Retirement Medical

[alatide]

How do you think your medical expenses will be paid for in retirement. Remember that companies are NOT obligated to follow through on any promises they have made to you while you were an active employee. They can cut off your retirement medical insurance at any time. Also remember that if that happens many people won't be able to get insurance because of pre-existing conditions.

 

[OldRegular]

How do you think your medical expenses will be paid for in retirement. Remember that companies are NOT obligated to follow through on any promises they have made to you while you were an active employee. They can cut off your retirement medical insurance at any time. Also remember that if that happens many people won't be able to get insurance because of pre-existing conditions.

Under Obamacare the government will take its cue from the companies and ration medical care.

 

[targus]

How do you think your medical expenses will be paid for in retirement. Remember that companies are NOT obligated to follow through on any promises they have made to you while you were an active employee. They can cut off your retirement medical insurance at any time. Also remember that if that happens many people won't be able to get insurance because of pre-existing conditions.

What makes you think that it will be any different when the government is in charge of health care.

Obam et al are already saying that the elderly will have to just sit down and shut up when they are denied health care under their rationing system.

I believe that they are calling that system "death with dignity".

 

[Crabtownboy]

How do you think your medical expenses will be paid for in retirement. Remember that companies are NOT obligated to follow through on any promises they have made to you while you were an active employee. They can cut off your retirement medical insurance at any time. Also remember that if that happens many people won't be able to get insurance because of pre-existing conditions.

I am not sure how many companies pay for retirees medical insurance now ... but it is not nearly as many as in the past. The company I worked for and retired from adds a bit extra to the retirement check. This is supposed to help with the cost of finding your own medical insurance. It helps, but does not cover it all by any stretch.

When a person reaches 65 they have to go on Medicare. To help cover that which Medicare does not cover people should get a Medi-gap policy if they can afford it.

Currently the agency that my wife retired from covers both of us. That may well change this fall considering the budget shortfall. At that time she will have to find another Medi-gap policy. I will probably move all my medical records, visits, etc. to the VA. That is a bridge we will cross when we come to it.

 

[alatide]

Under Obamacare the government will take its cue from the companies and ration medical care.

Is that what you're counting on? This isn't a question about Obama's policies. It's a question about your plans.

 

[alatide]

I will rely on Medicare with a supplement provided by my company. Without Medicare I am is dire straits.

 

[Salty]

I will probably move all my medical records, visits, etc. to the VA. That is a bridge we will cross when we come to it.

It may not be that easy to enroll in the VA unless you are serviced disabled. I suggest you start checking now

 

[alatide]

What makes you think that it will be any different when the government is in charge of health care.

Obam et al are already saying that the elderly will have to just sit down and shut up when they are denied health care under their rationing system.

I believe that they are calling that system "death with dignity".

Are you relying on Medicare? If so, then you are counting on the government.

 

[rbell]

Medical savings account, plus private long-term care insurance.

 

[targus]

Are you relying on Medicare? If so, then you are counting on the government.

Nope.

I am not counting on Medicare or Social Security.

 

[Revmitchell]

Medical savings account, plus private long-term care insurance.

Very Smart!:thumbs:

 

[windcatcher]

If any common sense were exercised by our leaders in Congress.... a long time ago a continuing privately owned and income deduction should have been allowed on individuals year to year roll over plans for 'medical care' which would have allowed increasing savings which were available for catastrophic events as well as for regular health care.

In the event of death in which the accounts still had a balance.... the balance should have been made available as either medical care to legal beneficiaries/heirs and/or options to pay for death/burial expenses, estate expenses and outstanding debts, and then taxable distributed income to the beneficiaries of the estate.

 

[alatide]

If any common sense were exercised by our leaders in Congress.... a long time ago a continuing privately owned and income deduction should have been allowed on individuals year to year roll over plans for 'medical care' which would have allowed increasing savings which were available for catastrophic events as well as for regular health care.

In the event of death in which the accounts still had a balance.... the balance should have been made available as either medical care to legal beneficiaries/heirs and/or options to pay for death/burial expenses, estate expenses and outstanding debts, and then taxable distributed income to the beneficiaries of the estate.

A current estimate is that a man needs $177K in savings and a women $221K (median drug expenditures) to meet costs over and above Medicare covered costs if they retire at age 65 without employer provided coverage (increasingly the norm). This is $400K per retired couple just for medical costs! Most Americans won't have that much in total savings for retirement. Where are you assuming these additional savings would come from?

 

[Bro. Curtis]

Where did those figures come from ?

 

[rbell]

A current estimate is that a man needs $177K in savings and a women $221K (median drug expenditures) to meet costs over and above Medicare covered costs if they retire at age 65 without employer provided coverage (increasingly the norm). This is $400K per retired couple just for medical costs! Most Americans won't have that much in total savings for retirement. Where are you assuming these additional savings would come from?

I run a racketeering business on the side.

 

[targus]

Where did those figures come from ?

He pulled them out of his fevered imagination.

 

[Crabtownboy]

Where did those figures come from ?

I am curious why you skeptics do not do some research on your own.

Read the quote:

For retirees who aren’t covered by the company plan, costs can be quite high. Fidelity Investments estimates that a couple who are both 65 and who retire this year without employer-sponsored health coverage will run up about $215,000 of medical costs in retirement.
http://74.125.47.132/search?q=cache...=en&ct=clnk&gl=us&lr=lang_en&client=firefox-a

edical care is not spread evenly over retirement. The expenses generally increase over time and bulge in the later years.

Estimating the cost of retirement medical care is difficult. Fidelity Investments has an annual survey that attempts to do that. The latest survey estimates that the average married couple age 65 today will pay $225,000 for medical care between ages 65 and 80. That cost includes everything Medicare does not cover: Medicare premiums, deductibles, copayments, noncovered care (including dental care), supplemental insurance, and prescription drugs. This estimated tab was $175,000 only five years ago. For most couples, the expenses will average $10,000 or more in the early years of retirement and be much higher in later years. Many people will live beyond 80, boosting lifetime costs. The Fidelity estimates are an average, so half of retirees will have higher costs.
http://www.investorsinsight.com/blo...-the-retirement-medical-expense-surprise.aspx

So, are you ready to spend $10,000 a year on medical expenses. Actually it will be even higher in the future if no health care reform is put in place.

 

[rbell]

So, are you ready to spend $10,000 a year on medical expenses. Actually it will be even higher in the future if no health care reform is put in place.

Your reasoning is faulty if you think that healthcare will automatically be lower, simply because a government monopoly is created.

 

[donnA]

I will rely on Medicare with a supplement provided by my company. Without Medicare I am is dire straits.

Obama wants to cut medicare and murder old people to keep from paying for people he deems worthless, just like he claimed babies weren't people, and supports their murder.

 

[Robert Snow]

Obama wants to cut medicare and murder old people to keep from paying for people he deems worthless, just like he claimed babies weren't people, and supports their murder.

Once again you take hyperbole to new heights! :laugh: