Join Early Retirement Today
Reply
 
Thread Tools Search this Thread Display Modes
Pre-existing condition-- care options?
Old 04-17-2015, 12:07 AM   #1
Dryer sheet wannabe
 
Join Date: Feb 2014
Location: Summit
Posts: 16
Pre-existing condition-- care options?

Hi,

My understanding is that it can be difficult to get private health insurance if a serious pre-existing condition exists. To date our company offering has addressed this well, however for post employment it's unclear what options we will have. Without coverage, meds can be very expensive. We're grateful our health has been reasonably ok, but unclear what future holds and would want to secure comparable coverage going forward.

Is this is a deal breaker (ie is the best answer to continue working just for benefits)? The flip side of continuing employment (for benefit purpose) is the associated delay and potentially enhanced risk over time of having to deal with deteriorated health and not be able to have the capabilities to enjoy an active retirement.

I've read a little about getting a standard plan with an exclusion clause (carving out coverage related to the pre-existing) and supplement w catastrophe insurance that covers the pre-existing condition only. This sounds like it may be ok for hospitalization charges, but unclear/doubt whether catastrophe ins would cover ongoing meds/potential general care. We do have LTC policies, but also don't think this would help w ongoing med costs/etc.

Thx in advance for any thoughts/experience/ knowledge in this area.

FYI - Under normal circumstances, DW & I (mid 40s) are likely 7-10 yrs away..details were shared in earlier post.

Thanks!
__________________

__________________
ATby55 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 04-17-2015, 12:30 AM   #2
Moderator Emeritus
Bestwifeever's Avatar
 
Join Date: Sep 2007
Posts: 16,373
Pre-Existing Conditions | HHS.gov/healthcare

No worries about preexisting conditions not being covered.
__________________

__________________
“Would you like an adventure now, or would you like to have your tea first?” J.M. Barrie, Peter Pan
Bestwifeever is offline   Reply With Quote
Old 04-17-2015, 06:58 AM   #3
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
donheff's Avatar
 
Join Date: Feb 2006
Location: Washington, DC
Posts: 8,643
What Bestwifeever said. Did you miss the entire Obamacare brou ha ha over the past 6 years? I envy your detachment. A bit more seriously, watch the Supreme Court end of year announcements in late June. They will be releasing the decision on whether Healthcare.gov qualifies for subsidies - possibly the last serious challenge against the ACA. If the subsidies survive it is a pretty good bet that you can count on being able to get some sort of HI when you pull the plug one way or another.
__________________
Every man is, or hopes to be, an Idler. -- Samuel Johnson
donheff is offline   Reply With Quote
Old 04-17-2015, 08:04 AM   #4
Dryer sheet aficionado
Samz's Avatar
 
Join Date: Apr 2015
Location: North of ATL
Posts: 41
I'm currently self employed, DW went RE when kids were babies.

So I've been shopping and buying my own Health Ins for 25 - 30 years. Before ACA / Obamacare, due to a few Pre Existing issues we were stuck with a Ins Co that kept jacking up our premium. Once we got on ACA in 2014 we saved $7K per year. No subsidies helping since I'm pulling in $ well over the cutoffs.

They now only ask your age and if you smoke.
__________________
belief system does not acknowledge dryer sheets existence
Samz is offline   Reply With Quote
Old 04-17-2015, 03:39 PM   #5
Recycles dryer sheets
outdoorgirl02's Avatar
 
Join Date: Jul 2014
Posts: 243
We have also been buying our own health insurance for years since both DH and I are self employed. It was extremely helpful for the pre-existing condition coverage law to come out. Before that, it was super expensive for me since I have some existing health issues.
__________________
outdoorgirl02 is offline   Reply With Quote
Old 04-17-2015, 03:41 PM   #6
Recycles dryer sheets
outdoorgirl02's Avatar
 
Join Date: Jul 2014
Posts: 243
Also, you can check out ehealthinsurance.com to see free online quotes and coverage options from a variety of providers.
__________________
outdoorgirl02 is offline   Reply With Quote
Old 04-17-2015, 04:01 PM   #7
Recycles dryer sheets
 
Join Date: Aug 2012
Posts: 138
Agree with the others. Obamacare, love it or hate it. But the one thing that it does do is allow early retirees (as well as everyone else) to get coverage regardless of preexisting conditions. That is very important for older folks that haven't reached Medicare age.
__________________
Live Free is offline   Reply With Quote
Old 04-17-2015, 09:16 PM   #8
Thinks s/he gets paid by the post
 
Join Date: Feb 2011
Posts: 1,629
Quote:
Originally Posted by Live Free View Post
Agree with the others. Obamacare, love it or hate it. But the one thing that it does do is allow early retirees (as well as everyone else) to get coverage regardless of preexisting conditions. That is very important for older folks that haven't reached Medicare age.
Practical effect of ACA (Obamacare) on ERs depends on the state you live in. Many states already had provisions for pre-existing conditions (e.g. "shall issue" laws/regs, hi-risk pools, etc.). Some folks have benefited by it, while others saw significant premium increases. Like most laws- some winners & some losers. And things continue to change as ACA gets fully implemented.

OP-- Might want to consider if your employer offers any retiree health ins for "full" retirees. Sometimes holding on for a few more years to qualify for added benefits &/or pension thresholds can make those last few years worth relatively much more $$$. Or not, depending on the employer.
__________________

__________________
ERhoosier 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
Randy Travis in Critical Condition easysurfer Other topics 3 07-11-2013 11:00 PM
Insurance Question: Job change and pre-existing medical condition EvrClrx311 Health and Early Retirement 11 09-20-2012 06:34 PM
Pre-existing conditions and underwriting rwwoods Health and Early Retirement 36 05-30-2007 12:17 PM
Pre existing conditions and Individual Health Insurance free4now FIRE and Money 10 12-30-2005 12:01 PM
Health Insurance and Pre-Existing Conditions intercst Other topics 0 08-07-2004 07:18 PM

 

 
All times are GMT -6. The time now is 02:45 PM.
 
Powered by vBulletin® Version 3.8.8 Beta 1
Copyright ©2000 - 2017, vBulletin Solutions, Inc.