midlifeguy
Dryer sheet aficionado
Hi all -
I considered posting this in the Health Forum, but I thought it was a pretty universal question. I'm nearly 40, live in NY, have a good financial situation (2M portfolio and paid off house), and have considered biting the bullet and retiring early, or semi-retiring. My biggest worry through this decision-making process has been healthcare, as I have had nightmares of my indvidual policy premium spiralling upward from its current $1,000 per month to $2,500 per month over the next eight or ten years. Given the passage of healthcare reform on Sunday, should I relax now? I have tried to get as much detail about the law as possible, and I know there aren't as many cost control measures in there as most people wanted (public option being the main one), but it does seem like early retirees (who don't have their healthcare covered by their former employer) now have more protection both in terms of premium/out-of-pocket caps, no need to worry about losing insurance due to getting sick, etc. I have 25 years to go before Medicare - yikes - so I'm hoping I can get by without some kind of health insurance catastrophe now that the insurance world has changed. So my question is: Do you all feel like these reforms are GOOD, BAD, or NEUTRAL for early retirees? Thanks.
I considered posting this in the Health Forum, but I thought it was a pretty universal question. I'm nearly 40, live in NY, have a good financial situation (2M portfolio and paid off house), and have considered biting the bullet and retiring early, or semi-retiring. My biggest worry through this decision-making process has been healthcare, as I have had nightmares of my indvidual policy premium spiralling upward from its current $1,000 per month to $2,500 per month over the next eight or ten years. Given the passage of healthcare reform on Sunday, should I relax now? I have tried to get as much detail about the law as possible, and I know there aren't as many cost control measures in there as most people wanted (public option being the main one), but it does seem like early retirees (who don't have their healthcare covered by their former employer) now have more protection both in terms of premium/out-of-pocket caps, no need to worry about losing insurance due to getting sick, etc. I have 25 years to go before Medicare - yikes - so I'm hoping I can get by without some kind of health insurance catastrophe now that the insurance world has changed. So my question is: Do you all feel like these reforms are GOOD, BAD, or NEUTRAL for early retirees? Thanks.