Private insurance after 65

[johnhkc]

Various federal studies say that the lifetime cost of healthcare (total cost - not just costs after Medicare) after age 65 hovers around $430K at the median and $810K at the 95th percentile.


Since I already have saved to the 95th percentile, can I buy private insurance to cover me for the last 5%? Shouldn't the cost of any insurance where I take such a huge deductible be much lower than typical? What percentage could I take on myself that would produce the most bang-for-the-buck?



According to CMS, 1% of the population does not sign up for Medicare. I assume these are HNWI who either pay cash or have an insurance "benefit" through a company they own?


If money is no object, what are my options besides Medicare?

 

[bingybear]

If money is no object, just pay cash.

You note that 1% don't sign up for medicare and have made an assumption that they are all wealthy. I have no information to support or dispute that. However, the other side of the coin could be that some people don't qualify for medicare. One does need 40 quarters paying into the system. Some people work and earn money outside the earned income methods. They may have capital gains but no social security taxable income.

People can also buy into medicare if they have the money.

I also would wonder if some fall to the medicaid ranks if assets are low enough.

But they could all be loaded.