Hi my job was just eliminated at age 63

[ivinsfan]

SS is only neutral if you die on the crossover date. Otherwise if you die sooner then one should have filed early. If one dies later than the crossover date, one should have waited. Generally speaking, if one is not in good health or does not have longevity genes or lastly, if one needs the SS to survive, then claiming earlier makes sense.

Have you invented some magic machine that tells people when they are going to die? You know even healthy people with longevity can get hit by a bus. The reductions that are made for age correspond to average longevity and that is the only "penalty" for taking early SS. If you want to make a guess about your lifespan that's up to you.

 

[ivinsfan]

Thank you for your kind reply. I worked in Georgetown for the last 2.5 years and took the bus due to the intensity of the meter maids there. Before that I supervised a clinic in DuPont Circle and also took the bus there from right in front of my home. There is no stigma in using public transportation in DC. My car is paid off and a loaded 2008 Jetta SE with 11,000 miles and in perfect condition inside and out. I can get 6500.00 for it and not have to pay the insurance $989 per year, gas maintenance, registration every year and $130 to garage it plus gas. That is a lot of Uber rides, if you ask me for a car that is mainly used on weekends to buy groceries and go to Church. I walk a lot to many things so I do not have to pay parking rates. Do you still think I should keep it?

I don't think you should worry about downsizing your condo or selling your car until you have a chance to process what's going on. Get some health coverage, look around for a part/full time job and process what's going on. Don't worry about spending your 20K liquid that what it is for emergencies, and rainy days. Don't rush into claiming your SS until you have a good feel for the job market. Once again, I'll say a nice part time job, ACA insurance coverage and some SS will give you a nice living.

 

[ivinsfan]

With Christian Healthcare Ministries, pre existing conditions are not covered but they have prayer pages in their newsletter where members donate to covers those costs. I bet most people's costs are covered. We are finding that cash discounts make medical bills much more affordable!

You've been on this for less then 60 days but you "bet" most peoples pre-existing costs are covered. The OP is a 63 YO and you won't find many 63 year olds that don't have something pre existing...the OP can most probably get complete ACA HI for less then what this costs and it will be better coverage. The policy from CHM specifically exclude pre-existings..I glad if works for you but please don't sugar coat stuff and "bet" on things like this.

 

[ivinsfan]

Look at Christian Healthcare Ministries as a substitute for health insurance. The best level will cost $175 for the best benefits. We think it is our solution for unaffordable health insurance. I can answer questions about it if you want to discuss.

Have you read this entire thread, just curious why you are pushing so hard for this CHM...and by the way its an alternative to traditional health insurance not a substitute...the pre-existing condition exclusion can trip up a lot of people.

 

[samcat]

Have you read this entire thread, just curious why you are pushing so hard for this CHM...and by the way its an alternative to traditional health insurance not a substitute...the pre-existing condition exclusion can trip up a lot of people.

The poster asked me for details so I gave them to her. If she needs insurance, it is a great alternative. Did you read how they handle pre-existing conditions? Pre-existing conditions are not a problem. Other members cover them. It is our "insurance" and is a substitute. A bronze plan was going to cost us over $2300 per month and it was pretty much major medical with a family deductible of $12,000 and a huge co insurance max. We are saving $1900 per month. We can pay lots of expenses out of pocket and still save money. No deductibles after the first $500 is paid and most of the time that is covered by the cash discounts. No in network or out of network. You can see whomever you want.

 

[samcat]

You've been on this for less then 60 days but you "bet" most peoples pre-existing costs are covered. The OP is a 63 YO and you won't find many 63 year olds that don't have something pre existing...the OP can most probably get complete ACA HI for less then what this costs and it will be better coverage. The policy from CHM specifically exclude pre-existings..I glad if works for you but please don't sugar coat stuff and "bet" on things like this.

Others pay for pre existing conditions. We don't know her. Just giving her ideas. She can do whatever she wishes but I would think it would be nice to.have options. BTW, my husband is 58 and we switched.

 

[GoodWishes]

I grew up in San Francisco and one can definitely get by without a car. In fact, many don't have cars. It is even easier nowadays with Uber and Lyft in addition to the public transits. From your description, sounds like you can save several hundred dollars a month by not having the car in addition to whatever you can get for selling the car.

Given you already take public transportation and drive so little, I am for selling the car but I do agree with others that you can wait a little to think more about it. Top priorities are to get medical insurance and look for work.

I was unemployed several years ago. If I remember correctly (memory seem to get worse with age), it was very quick to apply for unemployment online. You already said you will apply. Go ahead and let EDD tell you if you qualify for anything.

 

[ivinsfan]

Others pay for pre existing conditions. We don't know her. Just giving her ideas. She can do whatever she wishes but I would think it would be nice to.have options. BTW, my husband is 58 and we switched.

I have nothing again the CH groups in fact a few people from my church are using this option. But I know for sure that written into the policy are exclusions for pre-existings..most have a tiered system where they pay a small % of the cost for existing until a certain time has passed...several years.

Now its nice they have an area where people can "Donate" out of the goodness of their heart, but that is no guarantee that you will get ANY money for a pre-existing, let alone all of those bills covered. It's dependent on the charity of others. They reserve the right to look at your medical records and decide if it was a pre-existing that had been treated or SHOULD have been treated in the past.

I happy it works for you, in this case the OP can get better coverage for equal or less money from an ACA plan. It's important that people understand how these programs work. IMO they have many limitations and the best things about them is that they offer to get your medical costs reduced to the insurance company level and not rack rate, which a regular uninsured person could be charged.

 

[DCJennifer]

Any chance there are other positions that may open up at the same church before your medical runs out? If so, even if it pays less, it gives you more time to make decisions without feeling so much pressure.

The Church has only eleven employees in their budget and no there are no positions available where I could have expanded my skillset. They have three Priests, a Director of Administration, A youth Missioner, An organist and choirmaster, a Communications and Media Director, Parish Coordinator( accounting and Admin combo) and four Sextons who do all the general maintenance and set up at various times for events and general clean-up. My Administrative assistant position was eliminated for the Parish Coordinator job.

 

[DCJennifer]

Others pay for pre existing conditions. We don't know her. Just giving her ideas. She can do whatever she wishes but I would think it would be nice to.have options. BTW, my husband is 58 and we switched.

For the record, I have NO pre-existing conditions, am on no medications at this time--knock on wood. Thanks for your replies and assistance. I need to weigh all my options.

 

[DCJennifer]

You are divorced, but were you married 10 years or more/ If so, look at your options with filing for spousal SS.

Hello there. I was married 15 years and I have indeed looked into all of my options and I do not see a lot of positives there. He is a federal employee since 1979 and did not pay into social security. He did not designate half of his pension to go to me. While I did not give up any pension rights in 1995, he did not designate me after the divorce to receive any either.

 

[DCJennifer]

I grew up in San Francisco and one can definitely get by without a car. In fact, many don't have cars. It is even easier nowadays with Uber and Lyft in addition to the public transits. From your description, sounds like you can save several hundred dollars a month by not having the car in addition to whatever you can get for selling the car.

Given you already take public transportation and drive so little, I am for selling the car but I do agree with others that you can wait a little to think more about it. Top priorities are to get medical insurance and look for work.

I was unemployed several years ago. If I remember correctly (memory seem to get worse with age), it was very quick to apply for unemployment online. You already said you will apply. Go ahead and let EDD tell you if you qualify for anything.

Thanks that advice sounds great to me. Once I am employed, I will make a decision on the car. I have a personal concierge business which I hope to grow, and while I hoped to use Uber if needed for tasks, my own car will be good for a while.

 

[ivinsfan]

For the record, I have NO pre-existing conditions, am on no medications at this time--knock on wood. Thanks for your replies and assistance. I need to weigh all my options.

That's helpful but I did find the language "should have been treated" a little vague and possibly troublesome. I want to be sure others reading about the CH ministries understand how it works.

As always everyone needs to do their own research.

 

[ivinsfan]

Hello there. I was married 15 years and I have indeed looked into all of my options and I do not see a lot of positives there. He is a federal employee since 1979 and did not pay into social security. He did not designate half of his pension to go to me. While I did not give up any pension rights in 1995, he did not designate me after the divorce to receive any either.

It doesn't matter who he designates I'd spends a little time digging around this area.

 

[joeea]

Have you invented some magic machine that tells people when they are going to die? You know even healthy people with longevity can get hit by a bus. The reductions that are made for age correspond to average longevity and that is the only "penalty" for taking early SS. If you want to make a guess about your lifespan that's up to you.

When attempting to optimize SS claiming, everyone is forced to guess about their lifespan.

Remember, that if you get hit by a bus, you will no longer care when you claimed. The real risk is living a long life and have less income than you desire.

The "penalty" for claiming early SS benefits stays with you for the rest of your life.

If you must claim early, then you have no choice. But if you have a choice, it's best to think long and hard about it.

 

[Golden sunsets]

Have you invented some magic machine that tells people when they are going to die? You know even healthy people with longevity can get hit by a bus. The reductions that are made for age correspond to average longevity and that is the only "penalty" for taking early SS. If you want to make a guess about your lifespan that's up to you.

I was not implying that one can know whether it would have made more sense to file early or wait. At the end of the day though the answer will be known. At that point it's irrelevant to the deceased. Again the revenue is only neutral if date of death is on the crossover date.


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[ivinsfan]

When attempting to optimize SS claiming, everyone is forced to guess about their lifespan.

Remember, that if you get hit by a bus, you will no longer care when you claimed. The real risk is living a long life and have less income than you desire.

The "penalty" for claiming early SS benefits stays with you for the rest of your life.

If you must claim early, then you have no choice. But if you have a choice, it's best to think long and hard about it.

My issue is that people call this a penalty...your claiming your money sooner so you get less money per month , that's just common sense.

They don't "punish" you for taking money early, it's meant to give people options. It's a nice annuity chance for people that want to take advantage of itbut somehow it's turned into a huge, how long am I going to live so I can wring every penny out of the system, when in fact every person had different needs, wants and lifespans.

 

[lizh]

DCJennifer, I think you're going to get a new job in no time! I can tell by your thoughtful and clear responses to this thread that you have great skills. I know ageism is out there, but also there is a huge need for people who are willing to be organized and detail orientated without a desire to run the show (like millenials!). Don't underestimate your experience. Admin jobs run the world and it is really really hard to fill them with people who want to do the work!

I agree to wait a little bit to sell the car. Take a deep breath. Get some help with your resume and customize your cover letter for each position you apply for. Find some health insurance to tide you over. Put up a profile on LinkedIN and see what is out there! You can end up in great place to finish up your career! You got this!

Liz

 

[45th Birthday]

The poster asked me for details so I gave them to her. If she needs insurance, it is a great alternative. Did you read how they handle pre-existing conditions? Pre-existing conditions are not a problem. Other members cover them. It is our "insurance" and is a substitute. A bronze plan was going to cost us over $2300 per month and it was pretty much major medical with a family deductible of $12,000 and a huge co insurance max. We are saving $1900 per month. We can pay lots of expenses out of pocket and still save money. No deductibles after the first $500 is paid and most of the time that is covered by the cash discounts. No in network or out of network. You can see whomever you want.

Wondering, since you are saving $1,900 per month, how much have you contributed to the medical expenses of others with pre-existing conditions?

 

[Pilot2013]

Hello there. I was married 15 years and I have indeed looked into all of my options and I do not see a lot of positives there. He is a federal employee since 1979 and did not pay into social security. He did not designate half of his pension to go to me. While I did not give up any pension rights in 1995, he did not designate me after the divorce to receive any either.

I don't think this matters. With a 401k you can designate someone other than your spouse as beneficiary ONLY with signed agreement. I would assume that applies to government version of 401k as well (can't think of the name for it). For Pensions, I believe it is part of a QDRO that your attorney SHOULD have made sure was part of the Divorce Decree? If he/she didn't bring it up or have a QDRO done as part of the divorce, you had a lousy attorney. Maybe you can see him/her for negligence.

 

[mystang52]

Here's 2 more suggestions:
1) With your nursing background, check out job openings for Telephonic Case Manager. Some insurers have these on staff, and there are companies that specialize in this (Genex is one example). Nurse Case Managers coordinate treatment and act as a go-between for the patient, doctor and insurer. I know, from my prior career, this is a big industry in Workers' Compensation, but no doubt also for other areas such as Auto and Health insurers.

2) Before selling your car, why not just suspend the insurance? Since you have a designated parking spot, you can safely leave the car there while it's uninsured. Maybe not a huge monthly savings, but every penny counts, and in the short term you have not made an irreversible decision about getting rid of a reliable car.

 

[ivinsfan]

The poster asked me for details so I gave them to her. If she needs insurance, it is a great alternative. Did you read how they handle pre-existing conditions? Pre-existing conditions are not a problem. Other members cover them. It is our "insurance" and is a substitute. A bronze plan was going to cost us over $2300 per month and it was pretty much major medical with a family deductible of $12,000 and a huge co insurance max. We are saving $1900 per month. We can pay lots of expenses out of pocket and still save money. No deductibles after the first $500 is paid and most of the time that is covered by the cash discounts. No in network or out of network. You can see whomever you want.

Your costs without premium assistance on a bronze isn't really workable no one disputes that point. But it's just a fact this doesn't meet ACA standards for major medical insurance....they freely acknowledge that point.

I'm happy this works for your family but might not work for everyone.

 

[gayl]

If you were a 1099 employee then you don't get UIB. However others have already pointed out that the employment office has perks other than a check. They were instrumental in helping me get grounded when an employer forgot to report my earnings × 9 months. I got paid, my W2 just showed what they paid UI & SDI on. When I showed up they had padlocked the doors and I would have been screwed w/o the UI personnel.

So you may / may not get $$s but you will get your next step (Executives Unlimited, Professional Associations, ect)

 

[Mdlerth]

Sad but true

They don't "punish" you for taking money early, it's meant to give people options. It's a nice annuity chance for people that want to take advantage of it but somehow it's turned into a huge, how long am I going to live so I can wring every penny out of the system

+1

I think most people would be better off if they understood that maximizing their lifetime "take" from SS is NOT the same as maximizing the usefulness of the benefit.

 

[Doc0]

We use liberty healthshare for insurance. If you have no preexisting I think this is better than aca.

You seem.to want to do a lot of negotiating about job choice, as if you have that luxury. I don't think you have that luxury. I think you need a paycheck. You are not financially independent, aka get a job. Once you have a job THEN you have some luxury to move into something better. You are eligible for Medicare at 65. Medicare is not free, it's just relatively cheap. Full SS is 3 years away. In the meantime the fantasy of "choices" will leave you broke.