Health Insurance Options (NOT old enough for Medicare)

[NCBBA11043]

So, we are thinking about retiring early (60) . . . One of the things holding us back is health insurance. Looking online, most plans are HMO's. What about those of us that want to travel throughout the US? Are there any economical PPO's? I haven't even seen any PPO's in the marketplace. And how do you determine your income for subsidies? We won't be drawing from Social Security for a few years, but living off of our bank account and 401(k) / investments. Financial analyst hooked me up with a broker, but he was clueless - just wanted me to call him 2 months before we quit work to sell me on HMO's connected to the two big hospitals in our area. Does me no good in . . . Arizona let's say.
What are other people doing in similar situation?

[Lundy]

Following - The wife and I have the same question. We can stay on our work HMO which limits us to stay in California as a resident or take a buyout and purchase our own. But which one????????

[ben31]

Call yourself self-employed, which you really are. https://www.healthcare.gov/self-employed/

[Fishrsafe]

Following as well, wife and I are in the same situation.

Thanks,

Pete

[TitanMike]

I retired on my 61'st birthday. Wife and I merely purchased a High Deductible Health Care Plan (HDHCP) which is basically a catastrophic coverage plan. As it's title said, it had a high deductible ($6,000) so to cover the Dr visits and "runny noses", we also set up a Health Savings Account (HSA). Money could be placed in it tax free and it remained tax free (including earnings) as long as it was spent on medical expenses.

When putting it all on paper, regular insurance would have cost me ~$15k per year for the two of us. The HDHCP ran $5280. We made regular deposits in the HSA, the first year enough to cover a deductible.

Annual physicals ran ups around $300 (with discount the HDHCP got for us).

Less than a year after retirement my wife (now deceased) needed major surgery. Total cost that year for insurance, medical costs, and deductible were just over $11K and if I'd purchased regular insurance I would have been out of pocket over $14K PLUS Deductible and CoPays.

The plan was part of the Blue Cross/Blue Shield network so it covered me everywhere in the US.

I'm sure some things available then have changed by now but this is certainly something I would look into. However it does require looking at finances from an annual perspective rather than just month to month. Getting the HSA built up and getting used to the idea that basic medical expenses are now out of pocket, with insurance only kicking in when major problems occur. You do get to use the money you put into the HSA to pay these but bear in mind, YOU are the insurance company for those first expenses until you reach the higher deductible.

In a sense I still have a similar situation with my Medicare Advantage Plan. I have a cap to my out of pocket expenses so I try to keep my own reserve fund to cover these.

[GFAR]

My wife and I in the same boat! We are paying a wad for insurance that is a joke! We are self employed and get no break! BCBS controls NC what a mess! The health care system is a JOKE! We are looking for answers too!

[OYO]

Anyone can buy off the Market Place. You just or may not qualify for tax credits based on your income.

The types of plans available will vary greatly based upon your state

We retired at 59 (6 years ago). My experience is that the major insurance companies are getting out of personal health plans business.

I should add -retired 6 years ago with no regrets.

[OYO]

Originally Posted by GFAR

My wife and I in the same boat! We are paying a wad for insurance that is a joke! We are self employed and get no break! BCBS controls NC what a mess! The health care system is a JOKE! We are looking for answers too!

Agreed.

[clintbonnie73]

You might try: (Christian based health insurance)

medisharemarketplace.com

Don't know anything about it.. but have heard it advertised on the radio... suppose to save hundreds of dollars..

[robsshots]

and will save you a bunch. Part of their program is designed to get you into healthy living. Full-timing on the road should help get you there, too...hiking, biking, walking, eating better, etc etc.

Great people who live to help you stay healthy.

[MinneweeseMI]

Originally Posted by clintbonnie73

You might try: (Christian based health insurance)

medisharemarketplace.com

Don't know anything about it.. but have heard it advertised on the radio... suppose to save hundreds of dollars..

We've been trying to learn about MediShare and CHM (Christian Healthcare Ministries). It seems like they are insurance companies that don't own sports teams, race cars, huge buildings in expensive cities, etc. We haven't joined them yet, but every time DW sends $950/month for terrible coverage, we inch closer.

[campbuzz98]

When I was looking for a healthcare provider a broker gave me this info on the Christian Medishare program. It might work for you. I didn't join it, but it looks like a good deal.

You might want to look at this.

Here is the link to get more information and begin application process: http://bit.ly/1PEmSzj

Here is the link for the calculator: http://bit.ly/1RVThSn

It uses the PHCS Network of Doctors and Hospitals.

For doctors and hospitals in the network go to:

http://bit.ly/1QiqMjx

[stervin]

HI
Saw your question and although I am on medicare my wife is a few years behind me .
For the past 3 years we have opted for the coverage using the
Christian Health Ministry
Reasonable cost and based on sharing
Suggest you look it up on the web site and get back with me if you any questions
#A RATING and covers major medical based on what level u choose
Good luck
Steve

[robsshots]

nor is Christian Care - (I think they have merged...)

They are COST sharing organizations, in which members share each others healthcare costs. Not intended for bandaids and colds, but for really big deals i.e. catastrophic.

Great people, great organization, great service. Healthcare as it was meant to be.

Once able to get on Medicare, combine Medicare with a catastrophic plan and you'll be surprised at what you can get. Our coverage under that system - Medicare and Omaha Plan N I think - get us 50 chiro visits annually, covers MRIs, therapy, a lot of surprising stuff besides catastrophic. Our deductible is $166 each annually, but we have no health problems and take no prescription drugs. Wife is 66, I am 71, still going strong. Primary Care physician wants to put me on Lipitor - I just laughed at him. Cholesterol concerns and low fat diets are the biggest scams in medical history...hahahahaaaaaa....

[Seasonal]

Originally Posted by robsshots

... we have no health problems and take no prescription drugs. Wife is 66, I am 71, still going strong. Primary Care physician wants to put me on Lipitor - I just laughed at him. Cholesterol concerns and low fat diets are the biggest scams in medical history...hahahahaaaaaa....

, I hope to make it this long too, drug free (Beer doesn't count).

[groomn]

My husband and I would like to retire early and go full-time, we too will need insurance for the interim. The above sounds really interesting. Hope it is still available when we are ready.

[ADK]

I am in the same boat, I have 2 1/2 years till medicare and March 1st the cobra plan from a part time job is ending. In OK BCBS is the only provider that meets the government requirements. Rather than pay 888.00 a month with a 4,700 deductible I will be uninsured. I am taking out a cancer,heart & stroke, and accident policy with Cigna,price will be around 125. a month. This may be a bad decision but won't be my first bad decision I have ever made.

[Chaplain Kent]

You can move to Canada, a recent poll showed approval of their universal healthcare at 94%.

[TitanMike]

Originally Posted by robsshots

Once able to get on Medicare, combine Medicare with a catastrophic plan and you'll be surprised at what you can get. Our coverage under that system - Medicare and Omaha Plan N I think - get us 50 chiro visits annually, covers MRIs, therapy, a lot of surprising stuff besides catastrophic. Our deductible is $166 each annually

Depending on where you are in the country new Medicare recipients can be in a bit of a pinch. Many Doctors won't take on new Medicare patients and if they do, they often have a VERY SHORT list of "MedAdvantage" plans that they will accept. They got tired of billing several different companies including Medicare and the patient. My Doc is like that but the company I selected from his list is great. I get Prescriptions too for $162/month,

Originally Posted by robsshots

but we have no health problems and take no prescription drugs. Wife is 66, I am 71, still going strong. Primary Care physician wants to put me on Lipitor - I just laughed at him. Cholesterol concerns and low fat diets are the biggest scams in medical history...hahahahaaaaaa....

Thought this way too ------all the way to last September. I was 74, had low cholesterol, good LDL/HDL ratio, didn't use the salt shaker and avoided high sodium, high saturated fat, foods. Preferred to cook for myself rather than restaurants and fast food. My weight was only 20# more than when I separated from the Army in the early 70's. Great physical shape and could still lift my 100#+ generator in/out of my pickup truck. I could still see my belt buckle, bend over and touch he ground without bending my knees, and my chest measurement was (and still is) larger than my waist.

Then, without any warning on a Wednesday afternoon I had a heart attack. After a failed attempt to place a stent, I ended up coming home the next Friday with a completely re-plumbed heart.

If you're feeling great, fantastic. Hope you stay that way and don't end up with any sudden surprise like mine.

[Fishrsafe]

Originally Posted by robsshots

and will save you a bunch. Part of their program is designed to get you into healthy living. Full-timing on the road should help get you there, too...hiking, biking, walking, eating better, etc etc.

Great people who live to help you stay healthy.

My DW checked into Medishare, was told no smokers or alcohol consumption allowed. I do like my 3 beers on Saturday so I guess we need to look elsewhere.

Pete