I'm having a difficult time finding answers on this on, especially with someone in a similar situation.
I'm 52, retired two years ago...my employer retirement insurance is a terrible price...$5500 annual premiums for a single male, high deductible plan so I still have a $2k deductible then 20% copay up to another $1000. So my potential out of pocket total is $8500.
My pension is $60k and rental income push me over the ACA option, so I have 13 years to pay this high amount that keeps increasing every year or find other options.
I am buying a couple condos in Mexico to rent out and also stay there for at least a few months of the year, so one option I found is there are foreign health care policies for around $1700 plus a $1000 deductible that actually work in the US, but the caveat is you have to reside outside the US for at least 6 months.
If I went with this option I've heard from a couple people this will effect my medicare when I do claim it because I will have turned down health care here for 13 years even though I've paid into it for 35 years...is this true? I can't find any info on this but they said I will have to pay a steep penalty for this.
Does anyone have experience with permanent foreign policies as in replacing your current one or information on if I'm penalized for turning mine down when I reach medicare age?
Another option is to marry someone with great insurance!
Any other ideas??
Thanks!
I'm 52, retired two years ago...my employer retirement insurance is a terrible price...$5500 annual premiums for a single male, high deductible plan so I still have a $2k deductible then 20% copay up to another $1000. So my potential out of pocket total is $8500.
My pension is $60k and rental income push me over the ACA option, so I have 13 years to pay this high amount that keeps increasing every year or find other options.
I am buying a couple condos in Mexico to rent out and also stay there for at least a few months of the year, so one option I found is there are foreign health care policies for around $1700 plus a $1000 deductible that actually work in the US, but the caveat is you have to reside outside the US for at least 6 months.
If I went with this option I've heard from a couple people this will effect my medicare when I do claim it because I will have turned down health care here for 13 years even though I've paid into it for 35 years...is this true? I can't find any info on this but they said I will have to pay a steep penalty for this.
Does anyone have experience with permanent foreign policies as in replacing your current one or information on if I'm penalized for turning mine down when I reach medicare age?
Another option is to marry someone with great insurance!
Any other ideas??
Thanks!