Whisper9999
Recycles dryer sheets
- Joined
- Jul 5, 2004
- Messages
- 173
I hope to retire in about ten years, but I got discouraged from this link in Yahoo which painted a rather bleak picture of getting health insurance. It basically said that with any health issues, the health insurers would exclude you en toto or add an exclusion to your policy. They then offered some more practical solutions which I've listed below. My question is this: are these the only options available at this time? Are there better solutions?
http://finance.yahoo.com/focus-reti...-This-Move-Right?mod=retirement-post-spending
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Start the search. Launch your hunt for an individual policy a few months before you leave your job or before COBRA expires (once offered a policy, you usually have to start it within a month). You may want to begin your search at a site like EHealthInsurance.com, but keep in mind that those rates apply to the healthiest applicants. That's why an agent can be helpful in finding the best insurer and deal for your circumstances.
To keep your premiums affordable, your best bet may be a high-deductible insurance plan coupled with a health savings account (HSA), if you qualify. While you'll be on the hook for, say, the first $5,000 in expenses annually, you're protected from big-ticket disasters.
An Aetna plan from AARP (aarphealthcare.com) recently quoted $246 a month for a healthy 56-year-old male in Weber's zip code. You then pay for out-of-pocket costs with money from your HSA, which doubles as a tax-deferred savings plan. HSA contributions are tax deductible - the 2009 limit is $3,000 for an individual, $5,950 for a couple; plus another $1,000 if you're 55 or over. Funds grow tax-free; any nonmedical withdrawals after 65 are taxed as ordinary income.
Look for a last resort. If you can't get individual coverage, you have options, though they're not ideal. By law, states must make last-resort insurance available if you're HIPAA-eligible. But these plans can be limited and costly.
Another tack: Some states mandate guaranteed group plans for businesses with even one employee, which may make sense if you'll do any consulting work. For a national overview of your options, go to statehealthfacts.org and click on Managed Care & Health Insurance. Get in-depth information about your particular state at healthinsuranceinfo.net.
Finally, if you're up for adventure and can bear cold winters, you could move to one of the five states - Maine, Massachusetts, New Jersey, New York and Vermont - that forbid insurers from rejecting applicants for medical reasons. You'll pay for the privilege, however: Monthly individual HMO premiums in Albany, N.Y., for example, run from $666 to $1,333.
Weber, meanwhile, is intrigued by the high-deductible plan linked to an HSA. "It sounds like an attractive option," he says. Gently reminded by McClanahan that he may need to take better care of himself to qualify, Weber says that he'll get his cholesterol tested at an upcoming company health screening and see his doctor soon. He's willing to put in the effort to make his retirement a masterpiece."
http://finance.yahoo.com/focus-reti...-This-Move-Right?mod=retirement-post-spending
"
Start the search. Launch your hunt for an individual policy a few months before you leave your job or before COBRA expires (once offered a policy, you usually have to start it within a month). You may want to begin your search at a site like EHealthInsurance.com, but keep in mind that those rates apply to the healthiest applicants. That's why an agent can be helpful in finding the best insurer and deal for your circumstances.
To keep your premiums affordable, your best bet may be a high-deductible insurance plan coupled with a health savings account (HSA), if you qualify. While you'll be on the hook for, say, the first $5,000 in expenses annually, you're protected from big-ticket disasters.
An Aetna plan from AARP (aarphealthcare.com) recently quoted $246 a month for a healthy 56-year-old male in Weber's zip code. You then pay for out-of-pocket costs with money from your HSA, which doubles as a tax-deferred savings plan. HSA contributions are tax deductible - the 2009 limit is $3,000 for an individual, $5,950 for a couple; plus another $1,000 if you're 55 or over. Funds grow tax-free; any nonmedical withdrawals after 65 are taxed as ordinary income.
Look for a last resort. If you can't get individual coverage, you have options, though they're not ideal. By law, states must make last-resort insurance available if you're HIPAA-eligible. But these plans can be limited and costly.
Another tack: Some states mandate guaranteed group plans for businesses with even one employee, which may make sense if you'll do any consulting work. For a national overview of your options, go to statehealthfacts.org and click on Managed Care & Health Insurance. Get in-depth information about your particular state at healthinsuranceinfo.net.
Finally, if you're up for adventure and can bear cold winters, you could move to one of the five states - Maine, Massachusetts, New Jersey, New York and Vermont - that forbid insurers from rejecting applicants for medical reasons. You'll pay for the privilege, however: Monthly individual HMO premiums in Albany, N.Y., for example, run from $666 to $1,333.
Weber, meanwhile, is intrigued by the high-deductible plan linked to an HSA. "It sounds like an attractive option," he says. Gently reminded by McClanahan that he may need to take better care of himself to qualify, Weber says that he'll get his cholesterol tested at an upcoming company health screening and see his doctor soon. He's willing to put in the effort to make his retirement a masterpiece."