50 yo's Caught Betwixt and Between
 

Ok, here I am whining. You see I feel those my age in the 50's are getting stuck. It looks most likely like we will never see Medicare (not political just practical-they are going broke quickly) and we can't move to TV because we are too old and no one will hire us...since we need full time work with insurance. We too have paid our bills and our social security all these years and I hear that Mr President wants to raise retirement to 67. I am afraid by the time we reach that age they will have raised it again...they simply can't afford Medicare. (I remember being young when my mom read where the government started using the Medicare and social security money and she said mark my words ...they are taking your money...she was right)

Yes, we have a good Financial Planner and we have options but it is mostly the insurance issue that could break the bank. Has anyone gotten "co-op" insurance (like the Amish have) and or just carried Catastrophic insurance. Does anyone understand them well enough to know the plusses and minuses of these products? Cobra is too expensive. I haven't approached our Financial guy about these options yet.

Wow, what a Debbie Downer I am being this a.m. Sorry for that! We run into people all of the time who have been able to retire early but this is not an option for us-since my hubs employer is a small business and cannot afford early retirement options. We discovered The Villages about 5 years ago which was way way too early. Please don't misunderstand thisis not about politics....we all are in the same boat donkeys and elephants.

I have no answer, but I share your concern
 

I am in a decent boat now, but save space for me in yours, as my wife and I are 55 and 54. At this time I consider myself VERY LUCKY that I can work at a company in Lexington, MA from my "office" in Mallory Square. It is perfect for me as long as that company continues to do well as I get access to affordable health insurance. I worry about a time if that job goes away.

Resume:

Must work remote to play golf with Dad in winter
Cannot work more than 4 days a week
Old enough to know what a slide rule is

Should be no issue getting a high paying job right :thumbup:

Don't worry, be happy.

Good morning, ssmith,

I would love to talk about this, but I am on my way to the dentist and then a pedicure. (not in the same chair though -- but hey -- what a great idea that would be, huh)

So anyway, if this has not gone into the political forum by the time I am back, I might have some things to add. I do believe a lot of the 50-somethings are being had, but there is more to it than what some would think -- I think.

So see you later-- maybe. But maybe not -- bc this thread will either be gone to political or I will have talked myself out of getting into it. I do think this needs to be discussed on the open forum though bc it certainly affects retirement planning so much.

Boomer

ssmith - Re: your insurance concerns. You might want to take a look at Assurant Health http://www.assuranthealth.com/corp/ah/AHHome.htm Our State Farm agent markets their products - I talked with them about potentials for us about a year ago, mostly just being inquisitive and trying to get a feel for what might be available. Assurant is available through other sources as well. There are tons of other companies (Aetna, BC/BS, etc.) that can provide coverage as well.

Cost..........there's a big issue! One route to consider to get potentially better rates (as part of a group) would be via membership in a professional organization of some sort that might have group coverage rates through a particular insurance provider. Just a thought. Also, COBRA coverage will get you your employer's group rates for 18 months though you'll be paying the entire tab (as you've probably already found).

One other thing that you mentioned - needing full-time employment for the two of you if you were to live full-time in TV. I'd suggest looking into that aspect of things in tandem with your health insurance coverage search. Good paying, full-time jobs with benefits seem to be fairly rare around the TV area......though if you're in the healthcare industry, jobs seem to be a bit more available.

Hope that's all of some help to you!

Bill :)

To complicate matters even further, if you have a pre-existing condition, it is almost impossible to get get immediate coverage for that condition if you get insurance someplace other than with a new employer. From what I am finding out, insurance companies will give you insurance with a rider that says they do not cover the pre existing condition for x amount of time (typically 1 year)

thank you, thank you
 

....Bill, for the option of looking into this insurance. Yes, I am a nurse; but the idea was for me to quit when we move.

Boomer come back, I would love to hear your ideas!

Paul, hope you find what you need for your condition without it being to costly.

AJ Brown, I hope you don't have to join us in our boat.

^Envious of your job SSmith.

SSmith, Thank you for posting this. I thought I was the only one in this situation. I am in the same boat as you and your husband. Why did my friends who are several years older than me bring me down here last year for a visit. Must have been to torment me! :). Well this is definitely been a goal for me to aspire to -- moving to TV at some point down the road. It will probably be a long road, but oh well. When I get back to Chicago and get caught up at work, I will be making an appointment with a financial planner at my credit union to go over my 401K and IRA to see that I'm on track. I don't want to spend my golden years with a snow shovel and ice scraper in hand.

I just got private healthcare insurance in Florida (I'm a legal Florida resident), and was told that Florida policies don't exclude pre-existing conditions - but they can deny you coverage or charge extra for it. There are about 10 zillion options out there, with different deductibles and coverages. Start with ehealthinsurance.com and look around.

Being in my early 50's I hear you.

But I would be more worried about SS than medicare. The govt, in the end, will still provide health care in some fashion as we approach retirement age.

I now have health insurance coverage provided through my part-time employer here in TV (very rare, by the way) and quite good and affordable. Just turned 60, so I plan to keep working until Medicare is available. Spouse is already on Medicare. Last year I paid premiums for “catastrophic” insurance, and tried not to go to any doctors, as I still paid the first $5,000 for anything. Prior to that we both had coverage from a group retirement plan that was very good, but became way too expensive - almost $18k a year for 2 of us. Spouse is diabetic and has Rx's galore. We have a good friend who moved here from Canada and it took her over 6 months to obtain coverage down here – not sure what she ended up with, but she did finally get approved. So yeah – figure it in your budget, and it won’t be cheap.

To Bogie Shooter...thanks I will put on happy face again!:D

To Shaumburger and Russ B, Well we can always take comfort, knowing that there are others in the same boat as us. BTW I am with you on the no shoveling issue and agree about the no SS but we have known for years that SS was going to end.

To Ohiogirl...what insurance did you purchase and was it a good price?

To DDan, it sounds like you have been on a journey and have found the insurance you need. I would ask you what employer it is that gives you insurance but know that the whole TOTV would be contacting them soon but, of course, if you want to PM me ....then that is a different story:thumbup:

I also think there just seems to be so many roadblocks on my way to TV....I didn't even mention the failing housing market and poor economy ... all these things are conspiring against us Wannabe's!:cryin2: oops Bogie I told you I would put on a happy face!

Co-op bill sharing
 

Here is a medical bill sharing ministry for professing Christians who agree to lower risks in the group by not smoking, etc. It is not technically "insurance". The group pays each other's bills and each participant is given a monthly amount to pay based on the deductible they chose, how many in the family are in it, how old, etc.

http://mychristiancare.org/medi-share/

Have faith in the USA, Im sure we will fix these issues. We always do.