Paying for health insurance

Thank you all for the information. We have our homework cut out for us. We have been planning to full time for five years so we don't want to give up because of health care cost. But as RV'ers we also know we have to be flexible with this lifestyle.

Thanks again,

Big Katuna wrote:
Single payer (think Medicare) can work as it mostly eliminates greedy costly insurance companies and it controls costs as now you have a large group that can dictate what the greedy medical industry will be paid.

And providers will line up like they do for Medicare.

The present system is broken.

Fully Agree!

I never found a doctor who didn't take Medicare. Medicaid Yes but usually Medicare is something most do take. With Medicaid, also goes by other names in other states, I had seen did not cover even 40% of what was billed. They do better with Medicare. But one really needs to have a supplemental insurance also which has been brought up already. My insurance , self plus one, does pay for a lot more than what Medicare pays but may have limits for each year depending on what it is, Mental Health, acupuncture has limits while Chiropractor pays all visits. Anymore insurance is a must. The chance of something happening is to great, Even if you are in perfect health right now.

My $2000/mo insurance does not cover drug/alcohol treatment or weight loss surgery.

Medicare does.

And our prescription prices are among the highest in the world.

westernrvparkowner wrote:
Many physicians do not accept Medicare. Also, many treatments are not covered under Medicare. Plus, you almost have to purchase Medicare Supplemental plans to have decent coverage.

Huh? Been on Medicare for 14 years and had our share of various medical issues, including cancer and traveled the country for 16 years. Never had a problem finding a doc who didn't accept Medicare and have had everything covered. Medicare Supplement... yes you need one.

TechWriter wrote:

Paul127 wrote:
We are retiring at the age of 56, so we have a long time to purchase health care.

Here's the bad news . . .

Let's say you domiciled in Sumter County, FL (a good place for Escapees). The least expensive ACA plan would be the BlueSelect Bronze 1452 - EPO plan with a $7350 deductible. Actually a good plan since it provides out-of-state health networks which you need as a full timer.

Without subsidies, this EPO would cost you $1083 per month (or $12,996 per year) in premiums. To get a subsidy, you would have to make under $64,080 per year between the two of you. So if you had to pay your entire deductible + premiums, that would be $20,346 per year (without a subsidy).

BTW, you could also get hit with "balanced billing" charges. For example, let's say you need surgery and go to a hospital that is in your health plan network. You're covered, right? Maybe not. Let's say your anesthesiologist is not a doctor in your health plan network . . . you could end up paying for him.

Anyway, so you could pay $12,996 in 2018. Let's figure premiums continue to rise at 10% a year. (Lately, they've been going up much more.)

So at the end of 2026 (your last year buying health insurance before Medicare), you will have paid about over $176,000 in premium costs alone.

Unless someone has a lot of money, I encourage folks to wait until they're 65 (Medicare eligible) to start full timing.

Paul127 wrote:
We are retiring at the age of 56, so we have a long time to purchase health care.

Here's the bad news . . .

Let's say you domiciled in Sumter County, FL (a good place for Escapees). The least expensive ACA plan would be the BlueSelect Bronze 1452 - EPO plan with a $7350 deductible. Actually a good plan since it provides out-of-state health networks which you need as a full timer.

Without subsidies, this EPO would cost you $1083 per month (or $12,996 per year) in premiums. To get a subsidy, you would have to make under $64,080 per year between the two of you. So if you had to pay your entire deductible + premiums, that would be $20,346 per year (without a subsidy).

BTW, you could also get hit with "balanced billing" charges. For example, let's say you need surgery and go to a hospital that is in your health plan network. You're covered, right? Maybe not. Let's say your anesthesiologist is not a doctor in your health plan network . . . you could end up paying for him.

Anyway, so you could pay $12,996 in 2018. Let's figure premiums continue to rise at 10% a year. (Lately, they've been going up much more.)

So at the end of 2026 (your last year buying health insurance before Medicare), you will have paid about over $176,000 in premium costs alone.

Big Katuna wrote:
Single payer (think Medicare) can work as it mostly eliminates greedy costly insurance companies and it controls costs as now you have a large group that can dictate what the greedy medical industry will be paid.

And providers will line up like they do for Medicare.

The present system is broken.

Many physicians do not accept Medicare. Also, many treatments are not covered under Medicare. Plus, you almost have to purchase Medicare Supplemental plans to have decent coverage. Following the same model, you will still have to buy insurance on top of paying higher taxes. Not so sure everyone will come out ahead.
When a large group dictates what someone providing a good or service can charge, often times that provider just stops providing that good or service. If prices are kept artificially low and the drug companies and the physicians, hospitals and care providers make less money, there is going to be less incentive to innovate and invest in research and development. That $10,000 a month drug may sound like a ripoff, but if it saves your life or limb, it is probably worth 10 times that amount. Take away that $10,000 in revenue, that drug may never have been developed.

If you want to see how your health care will be with the government running it, look at the VA. I do think we need changes, but am not convinced in anyway the the gov should run it.

And people just keep getting fatter.