I want to retire early but... - Democratic Underground

SHRED

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Sat Jan-15-05 11:15 AM
Original message

I want to retire early but...

The damn health insurance costs are outrageous.

Think if we had a system that was affordable. I am 48 and would retire at 50 with a reasonable co-pay. One of the benefits would be that my retirement would leave room for my workplace to bump up those younger, family oriented, workers below. But NO I can't go. There are others in my same shoes also.
This is frustrating.

Does anyone know of a health care plan that has maybe "catastrophic" coverage with a small monthly co-pay? Something to protect the "nest egg"?

Any ideas on health care insurance co-ops? Through the Farm Bureau?

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brokensymmetry

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Sat Jan-15-05 11:22 AM
Response to Original message

1. Maybe.

It might be possible to become a student at a local state-supported college and get health insurance. The maximum benefit might be low - $100,000 or so - but other than that it can be pretty decent. The price should be around $800 per year....

You'd need to take a couple classes per year, if they've got it. Maybe political science? :)

Check it out!

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Famine

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Thu Jan-20-05 06:15 PM
Response to Original message

2. This won't help you but....

For younger people this is one of the strongest benefits for serving in the military, either Active, Reserves or National Guard.

After 20 years of service you can retire from active duty with full medical for you and your Dependants. In the Reserves and Guard you have to wait until age 60 currently but thats still 5 years ahead of Medicare. Even then, you get TriCare for Life which is a medigap policy that covers prescription drugs and a lot of other things not covered by Medicare.

I know about the downside of being in the Reserves although I'm sure someone will feel obligated to point it out.

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ultraist

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Wed Jan-26-05 11:41 AM
Response to Original message

3. I would check into Blue Cross/Blue Shield

We own our own business and have BCBS. My husband and I are 40 and with two kids and our payment is around $600 per mo. with low copays, low deductible, 100% hospital coverage, 80% prescription coverage.

I wouldn't recommend just catastrophic at your age, you may end up paying 15-20 grand in medical, out of pocket, for one incident. (It's easy to rack up several thousand, I had kidney stones two years ago and the medical bills were over $15,000).

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