Join Early Retirement Today
Reply
 
Thread Tools Search this Thread Display Modes
Old 11-09-2015, 07:31 PM   #21
Thinks s/he gets paid by the post
Car-Guy's Avatar
 
Join Date: Aug 2013
Location: Citizen of Texas
Posts: 2,486
I was in my early 50's when I first became FI. I told myself at that time that I really needed to keep working to 55 so I could keep my emp's subsidized health insurance coverage once I retired. When I hit 55, I then asked myself, how can I walk away from the salary I was getting. The DW and I agreed I'd stay on to 57 1/2. Once I hit that, I quit setting retirement dates and foolishly hung around 3 more years.

So at first it was for heath insurance but at 55 it then became all about more money that I didn't need. (Greed)
__________________

__________________
Car-Guy is offline   Reply With Quote
Join the #1 Early Retirement and Financial Independence Forum Today - It's Totally Free!

Are you planning to be financially independent as early as possible so you can live life on your own terms? Discuss successful investing strategies, asset allocation models, tax strategies and other related topics in our online forum community. Our members range from young folks just starting their journey to financial independence, military retirees and even multimillionaires. No matter where you fit in you'll find that Early-Retirement.org is a great community to join. Best of all it's totally FREE!

You are currently viewing our boards as a guest so you have limited access to our community. Please take the time to register and you will gain a lot of great new features including; the ability to participate in discussions, network with our members, see fewer ads, upload photographs, create a retirement blog, send private messages and so much, much more!

Old 11-09-2015, 07:51 PM   #22
Thinks s/he gets paid by the post
 
Join Date: Jan 2011
Posts: 1,210
[only a little exaggeration]: DW loves me......SHE is working for our insurance coverage so I can be a stay-at-home bum.
Before I pulled the plug we had numerous discussions but the most important subject was health insurance. We have great coverage - she is a teacher - and I have a medical condition so insurance is that much more important. We agreed that she would continue to w*rk until at least Medicare age, although she may want to go even longer.
She loves what she does and actually wants to keep working; that's an emotion I can't identify with
__________________

__________________
mystang52 is offline   Reply With Quote
Old 11-09-2015, 08:37 PM   #23
Recycles dryer sheets
Mo Money's Avatar
 
Join Date: Mar 2014
Location: .
Posts: 269
The ACA's implementation (and its survival in various U.S. Supreme Court battles) was absolutely critical to my decision to ER. I have a preexisting condition. About a year before I ER'ed, on a whim I searched for the cost of health insurance in western Pennsylvania for a man in his 50s with a preexisting condition. I could not even find any policies! I was even considering moving to Massachusetts to ER, if the ACA was stricken down by the Supremes. Thankfully, while the Supremes weakened the ACA a bit, the legislation survived, and I jumped ship. So while the 2MM people may not have left their jobs with the help of the ACA, this one did.
__________________
“We always may be what we might have been.” -- Adelaide Anne Procter
Mo Money is offline   Reply With Quote
Old 11-10-2015, 09:17 AM   #24
Thinks s/he gets paid by the post
sengsational's Avatar
 
Join Date: Oct 2010
Posts: 3,849
ACA was the largest of 3 factors for me; without it, I wouldn't have walked. The other two factors? Turning 55 later in my departure year (penalty-free access to 401k, if needed), and being asked to train my replacements in India (BS bucket).

As to the study, since it's 2014 data, yeah, not showing a trend from releasing job-lock is not surprising. But I thought it would be a flood back in September of 2013: IBM to Move Retirees Off Health Plan, Into Exchanges
__________________
sengsational is offline   Reply With Quote
Old 11-10-2015, 03:21 PM   #25
Recycles dryer sheets
 
Join Date: Oct 2013
Posts: 204
Megacorp defined pension benefit @60 : $36k (not too shabby)
Megacorp retiree family healthcare @60: $17k (are you kiddin?)

Obamacare /CHIP healthcare @ 60: $1k

...I'm outta there....
__________________
.................................
A life without beer is not worth living
Nunthewiser is offline   Reply With Quote
Old 11-12-2015, 10:45 AM   #26
Full time employment: Posting here.
GTFan's Avatar
 
Join Date: Apr 2013
Location: Atlanta
Posts: 636
Same here - I can get retiree ins at full cost (around $1k a month) or a cost-shared Silver ACA plan for less than $200.

Pretty simple decision there., but more importantly the pre-existing clause made the RE decision easier for me because I'll always have choices. And I think no matter what the ACA future holds that one benefit will never go away.
__________________
GTFan is offline   Reply With Quote
Old 11-12-2015, 12:02 PM   #27
Thinks s/he gets paid by the post
ivinsfan's Avatar
 
Join Date: Feb 2007
Posts: 2,201
Quote:
Originally Posted by Nunthewiser View Post
Megacorp defined pension benefit @60 : $36k (not too shabby)
Megacorp retiree family healthcare @60: $17k (are you kiddin?)

Obamacare /CHIP healthcare @ 60: $1k

...I'm outta there....
Medicare Part B coverage is more then 1K a year! and most people need to purchase additional Medicare coverage..get ready, at 65 your costs will rise..does this make sense to anyone?
__________________
ivinsfan is offline   Reply With Quote
Old 11-12-2015, 12:22 PM   #28
Recycles dryer sheets
 
Join Date: Apr 2013
Location: Fishers
Posts: 386
While I can get pre-65 ACA for $1K a year - - I budget $575 per month once the 2 of us turn 65 for medicare plus plan f
__________________
wmc1000 is offline   Reply With Quote
Old 11-12-2015, 02:34 PM   #29
Thinks s/he gets paid by the post
 
Join Date: Mar 2011
Posts: 3,709
Maybe its me but...

HCI is about $15K per year.

If $15K per year is making the difference between working or not working, I'm questioning how robust one's claim to financial independence is.

Yeah, it's great to have someone else pay for it but it seems one should have a bit more cushion in your plan. If $15K blows you out of the water, maybe you're not as FI as you think.
__________________
Living well is the best revenge!
Retired @ 52 in 2005
marko is offline   Reply With Quote
Old 11-12-2015, 06:34 PM   #30
Recycles dryer sheets
 
Join Date: Oct 2013
Posts: 204
Quote:
If $15K blows you out of the water, maybe you're not as FI as you think.
$15k for one year, no not really. But for 5 years it stings quite a bit...
__________________
.................................
A life without beer is not worth living
Nunthewiser is offline   Reply With Quote
Old 11-12-2015, 07:13 PM   #31
Thinks s/he gets paid by the post
 
Join Date: Jan 2008
Posts: 1,495
I am grateful for Cal-Cobra. In California, after 18 months of Federal COBRA ends, insurance companies are required by law to provide coverage for another 18 months. They may charge no more than 110% of the total premium paid by the employer. For me, this comes to a little over $5K/yr. Definitely beats ACA pricing (to include same low co-pays) while providing me same full coverage I had while working for a total of 3 years. Only downside is dental ends after 18 months of Federal COBRA as it isn't covered under Cal-Cobra.
__________________
Options is offline   Reply With Quote
Old 11-12-2015, 07:43 PM   #32
Recycles dryer sheets
 
Join Date: Jun 2007
Posts: 359
Quote:
Originally Posted by marko View Post
HCI is about $15K per year.

If $15K per year is making the difference between working or not working, I'm questioning how robust one's claim to financial independence is.
Since most early retirees will have paid off all their debt, health care winds up being the single biggest budget item.
__________________

__________________
FinanceGeek is offline   Reply With Quote
Reply


Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
 
Thread Tools Search this Thread
Search this Thread:

Advanced Search
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


Similar Threads
Thread Thread Starter Forum Replies Last Post
Where Have You Have Lived, Why you chose where you live to Retire or Still Mulling ShokWaveRider Life after FIRE 116 11-22-2012 10:21 AM
How do you know you are retired if you are still working ? Moemg Life after FIRE 19 12-19-2010 08:11 PM
for those still wo*king, are you still putting $ in your 401K? ER_Hopeful Young Dreamers 58 01-14-2009 01:12 PM
Why walk to work when you can walk AT work? Nords Health and Early Retirement 5 05-16-2007 11:05 PM

 

 
All times are GMT -6. The time now is 11:32 PM.
 
Powered by vBulletin® Version 3.8.8 Beta 1
Copyright ©2000 - 2017, vBulletin Solutions, Inc.