Join Early Retirement Today
Reply
 
Thread Tools Search this Thread Display Modes
Vanguard article on medical costs in retirement
Old 06-22-2018, 02:57 PM   #1
Recycles dryer sheets
 
Join Date: Jun 2015
Posts: 225
Vanguard article on medical costs in retirement

Someone on MMM posted this link to terrific and comprehensive article on medical costs in retirement.

"Planning for Health Care Costs in Retirement"

https://personal.vanguard.com/pdf/ISGPLHC.pdf
__________________

gretah 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 06-22-2018, 03:25 PM   #2
Moderator Emeritus
aja8888's Avatar
 
Join Date: Apr 2011
Location: The Woodlands, TX
Posts: 11,336
Quote:
Originally Posted by gretah View Post
Someone on MMM posted this link to terrific and comprehensive article on medical costs in retirement.

"Planning for Health Care Costs in Retirement"

https://personal.vanguard.com/pdf/ISGPLHC.pdf
Thanks, great article and very accurate from this 70+ year old persons perspective.
__________________

__________________
Saying on a Get Well card from a friend of mine after I had my second hip replacement - "Don't let the Old Man in..."
aja8888 is offline   Reply With Quote
Old 06-24-2018, 04:45 PM   #3
Full time employment: Posting here.
 
Join Date: Apr 2005
Posts: 529
Great article - thanks for posting it!

All I can say is I'm glad to have spent 4+ years in Mexico and be comfortable with both the medical care and assisted living/nursing home options there. U.S. health care and LTC care costs far exceed many retiree's entire annual income and things are getting worse every year - with the powers-that-be seemingly eager to gut what little safety net there is.
kevink is online now   Reply With Quote
Old 06-25-2018, 01:15 PM   #4
Recycles dryer sheets
 
Join Date: Jun 2018
Location: Barcelona
Posts: 50
Interesting article.

I'm relieved to live in Europe in this case. It might have some disadvantages (in Spain, there's usually lower incomes than in US, I believe). But SS covers many things (not all of them but definitely helps), although is true that they take it from the salary. I am still not sure about which system is better (for individuals). What do you think?
Junior is offline   Reply With Quote
Old 06-25-2018, 01:35 PM   #5
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
 
Join Date: Jan 2018
Location: Tampa
Posts: 5,966
Quote:
Originally Posted by kevink View Post
Great article - thanks for posting it!

All I can say is I'm glad to have spent 4+ years in Mexico and be comfortable with both the medical care and assisted living/nursing home options there. U.S. health care and LTC care costs far exceed many retiree's entire annual income and things are getting worse every year - with the powers-that-be seemingly eager to gut what little safety net there is.
+1 for Mexico
but don't you have to be under a certain age (maybe 62) in order to get on one of the public plans?
__________________
TGIM
Dtail is online now   Reply With Quote
Old 06-27-2018, 10:18 AM   #6
Full time employment: Posting here.
 
Join Date: Apr 2005
Posts: 529
Quote:
Originally Posted by Dtail View Post
+1 for Mexico
but don't you have to be under a certain age (maybe 62) in order to get on one of the public plans?
No, no age limits for Seguro Popular, which is the main government program. Many expats in popular retirement havens like Lake Chapala and San Miguel de Allende enroll in SP for emergency only use and then pay out of pocket for routine care. Many also hedge their bets once they hit age 65 by enrolling in bare bones basic Medicare too in case they have to return to the U.S., while those few who have really cut ties discontinue paying into the U.S. system.

Hopefully there will be more options in the U.S. in future but worth knowing about Mexico and other south-of-the-border options - especially for things like assisted living/nursing home care. I know several couples who've moved to Mexico because one spouse needed such care and paying $1200 a month for great care is a whole lot more appealing than going broke paying $6000-8000 a month in the U.S.
kevink is online now   Reply With Quote
Old 06-27-2018, 10:56 AM   #7
Administrator
MichaelB's Avatar
 
Join Date: Jan 2008
Location: Sheltered in place
Posts: 31,832
Quote:
Originally Posted by gretah View Post
Someone on MMM posted this link to terrific and comprehensive article on medical costs in retirement.

"Planning for Health Care Costs in Retirement"

https://personal.vanguard.com/pdf/ISGPLHC.pdf
This is really a very thoughtful analysis, thanks for posting it.
MichaelB is online now   Reply With Quote
Old 06-27-2018, 11:39 AM   #8
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
 
Join Date: Jan 2018
Location: Tampa
Posts: 5,966
Quote:
Originally Posted by kevink View Post
No, no age limits for Seguro Popular, which is the main government program. Many expats in popular retirement havens like Lake Chapala and San Miguel de Allende enroll in SP for emergency only use and then pay out of pocket for routine care. Many also hedge their bets once they hit age 65 by enrolling in bare bones basic Medicare too in case they have to return to the U.S., while those few who have really cut ties discontinue paying into the U.S. system.

Hopefully there will be more options in the U.S. in future but worth knowing about Mexico and other south-of-the-border options - especially for things like assisted living/nursing home care. I know several couples who've moved to Mexico because one spouse needed such care and paying $1200 a month for great care is a whole lot more appealing than going broke paying $6000-8000 a month in the U.S.
Thanks for the response.
I thought there were 2 govt type plans. Perhaps the other plan has age limits?
__________________
TGIM
Dtail is online now   Reply With Quote
Old 06-27-2018, 12:18 PM   #9
Full time employment: Posting here.
 
Join Date: Apr 2005
Posts: 529
Quote:
Originally Posted by Dtail View Post
Thanks for the response.
I thought there were 2 govt type plans. Perhaps the other plan has age limits?
You're thinking of IMSS, which is used less and less and appears to be on its way to being subsumed within SP. Here is an excellent overview of options by a well-known facilitator (for visas, autos, health and much else) based in San Miguel de Allended. I recommend bookmarking her site if you plan on keeping Mexico open as an option.

HEALTHCARE
__________________

kevink is online now   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
Need Rec's for Lowering Medical Insurance Costs txdakini Health and Early Retirement 59 01-13-2011 07:19 PM
Medical costs REWahoo FIRE and Money 30 08-29-2009 01:42 PM
Medical Costs Report HHS OAG Health and Early Retirement 3 02-25-2009 06:15 AM
The good old USA and medical costs getoutearly FIRE and Money 83 02-20-2006 10:42 AM
Interesting...rising medical costs not due to malpractice payouts cute fuzzy bunny Life after FIRE 15 06-10-2005 11:52 AM

» Quick Links

 
All times are GMT -6. The time now is 11:38 AM.
 
Powered by vBulletin® Version 3.8.8 Beta 1
Copyright ©2000 - 2020, vBulletin Solutions, Inc.
×