DawgSavr
Dryer sheet wannabe
- Joined
- Jul 13, 2021
- Messages
- 24
I will be 58 in less than 2 short months and my DW of 35+ years is 6 months younger and has been a stay at home mom and held a part time job to make herself some mad money until end of 2020 when the owner closed and retired. She talks of going back to work part time but not sure how serious she is. 2 adult kids are making their own lives.
I would like to retire at year end and have heavily loaded Healthcare, Dental and Vision in our retirement plans as though we will be paying full freight in perpetuity. We are fortunate that we can defer a small pension, 401K and Pre-Tax IRA’s, Social Security and small annuity payments post medicare eligibility as we have built a buffer of Taxable brokerage investment savings that we can use to bridge the gap while giving us flexibility to manage our MAGI for ACA Cost Sharing options. We are looking at a Bronze, HSA, policy with a very low premium that includes our respective doctors and hospital network which also allows us to continue to add to our current HSA bucket. We are healthy and hopefully will remain so for many, many years. Through my research, ACA is a good option for us, especially in 2022 with no cliff and lower premiums due to Pandemic relief…but obviously this will not last forever, and who knows what will happen with all of the debate around lowering Medicare age, including dental and vision and impact from the new virus strains that are popping up. All of which is out of our control and very difficult to plan around.
Hence our predicament...
I work in the Central Banking System, after attaining age 55 and 10 years of employment, retiree, subsidized health insurance is an option for my wife and I including Medicare Advantage subsidies, no dental or vision but the option to continue in the group plans with no subsidies. I am 3 years away from attaining this benefit however, the movement of my cheese, the bureaucracy and politics wear me thin and I hate the thought of going through the motions just to attain a very nice benefit when my time is more important than money and I have a bucket list of things to start doing that I get excited about each time I review it … however, where we are with Healthcare options in the country, this seems to put me more in control … could I suck it up and cross the finish line…sure…do I have to no.
Interested as to what others would do if they were or have wrestled with a similar predicament?
I would like to retire at year end and have heavily loaded Healthcare, Dental and Vision in our retirement plans as though we will be paying full freight in perpetuity. We are fortunate that we can defer a small pension, 401K and Pre-Tax IRA’s, Social Security and small annuity payments post medicare eligibility as we have built a buffer of Taxable brokerage investment savings that we can use to bridge the gap while giving us flexibility to manage our MAGI for ACA Cost Sharing options. We are looking at a Bronze, HSA, policy with a very low premium that includes our respective doctors and hospital network which also allows us to continue to add to our current HSA bucket. We are healthy and hopefully will remain so for many, many years. Through my research, ACA is a good option for us, especially in 2022 with no cliff and lower premiums due to Pandemic relief…but obviously this will not last forever, and who knows what will happen with all of the debate around lowering Medicare age, including dental and vision and impact from the new virus strains that are popping up. All of which is out of our control and very difficult to plan around.
Hence our predicament...
I work in the Central Banking System, after attaining age 55 and 10 years of employment, retiree, subsidized health insurance is an option for my wife and I including Medicare Advantage subsidies, no dental or vision but the option to continue in the group plans with no subsidies. I am 3 years away from attaining this benefit however, the movement of my cheese, the bureaucracy and politics wear me thin and I hate the thought of going through the motions just to attain a very nice benefit when my time is more important than money and I have a bucket list of things to start doing that I get excited about each time I review it … however, where we are with Healthcare options in the country, this seems to put me more in control … could I suck it up and cross the finish line…sure…do I have to no.
Interested as to what others would do if they were or have wrestled with a similar predicament?