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neb
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# Posted: 6 Dec 2014 09:45am - Edited by: neb
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I want to retire as soon as I can and I have about 4 years till I'm 62. How I understand it is they look at your previous year income to get what you pay etc. Now after that first year I will be making hardly nothing in income will I be able to adjust my premium payment to adjust my income after the first year? Any help with this insurance crap would be appreciated. I also know that I won't be eligible for MED till 65 but will be able to get SS at 62.
I have not went and talked to an agent yet but have done research on my on. I'm looking for some advise and some real life experience with how it works.
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turkeyhunter
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# Posted: 6 Dec 2014 10:36am
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I NEVER thought I would say this...still can not believe I am
I have a cuz who is self employed all his life...and just got obamacare
60 bucks a month...unreal
if you cant beat um join um!!!!
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SandyR
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# Posted: 6 Dec 2014 01:34pm
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I agree. We are self employed and pay so much self employment taxes. We got ourselves insurance. We pay no co-pays. It is very good insurance.
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Wilbour
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# Posted: 6 Dec 2014 08:38pm
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We Canadian are left scratching our heads.
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neb
Member
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# Posted: 6 Dec 2014 09:06pm - Edited by: neb
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TH>>60$ that is unreal and I wish you hadn't said it! LOL I need to go talk to someone and get the scoop because there are a lot of variables involved what a person pays. I will work at least one more year but I'm getting things in order. Thanks TH
SandyR>>Is your insurance obamacare?
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buckybuck
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# Posted: 7 Dec 2014 03:15pm
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My wife and I had to go on ACA in September after we lost our employer-sponsored health insurance. It's based on your current annual income, with subsidy amounts based on age and whether or not you smoke. You do have to document your earnings, and sending a copy of your previous year's income tax return is one of the ways you can do that. We were in a similar situation as you in that our income dropped dramatically from the previous year. I talked with a rep (admittedly, I'm not sure she knew much more than me) and we finally came up with sending the 2013 tax return and bank statements from 2014, along with a letter explaining that our situation had changed and the bank statements more accurately reflected our current year income than did the 2013 tax return.
I will says that my wife and I have a fairly modest income these days, and we definitely pay a lot more than $60 a month for our ACA coverage, and we also have co-pays.
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ChuckDynasty
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# Posted: 7 Dec 2014 04:10pm - Edited by: ChuckDynasty
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I went on the website put my info in and it was a couple of hundred more per month and up depending on the insurance company and the deductible than my grandfathered in plan for a family of four and I have a 10k deductible, all non smokers and no health problems. I don't get it.
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toyota_mdt_tech
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# Posted: 7 Dec 2014 06:24pm
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Quoting: ChuckDynasty I went on the website put my info in and it was a couple of hundred more per month and up depending on the insurance company and the deductible than my grandfathered in plan for a family of four and I have a 10k deductible, all non smokers and no health problems. I don't get it.
I get it. If you thought health care was expensive before, wait till its free.  Basically, if your working, you will now pay loads more, higher deductible and less coverage. If you are not working at all, on welfare or social security with a low fixed income (retired seniors), you will pay less if anything at all. It really dings anyone else, especially the young. Add in the loads of illegals, I dont see how we can keep from going broke at a much faster rate. (I know we owe 18T now)
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turkeyhunter
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# Posted: 8 Dec 2014 04:16pm
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after hearing all the insurance problems...
I am really thankful I have insurance provided by my employer that I retired from
( da govt)
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BaconCreek
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# Posted: 9 Dec 2014 06:54pm
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It's called wealth redistribution posing as health insurance.
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turkeyhunter
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# Posted: 9 Dec 2014 07:31pm
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Quoting: BaconCreek It's called wealth redistribution posing as health insurance.
AMEN~~ sad but TRUE!!!
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ICC
Member
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# Posted: 9 Dec 2014 08:11pm
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So doesn't anybody who lives south of the 49th parallel believe that basic health care should be the right of all of the country's citizens? And if the answer is a No, why?
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toyota_mdt_tech
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# Posted: 9 Dec 2014 09:44pm
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If your answer is yes, why?
Healthcare is not a right. Do I have a right to be free from others coming after me to confiscate my wealth?
There has always been a system in place for emergencies, elderly, poor, children, it was always taken care of.
What next, right to a home? Many say that now. Suppose they want me to buy that also.
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SandyR
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# Posted: 9 Dec 2014 10:08pm
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Neb, we live in NY and have insurance that the state provides for people that make under a certain amount. I think my husband and I have Medicare, and the kids have heathy NY. The insurance company that carries us is Blue Cross Blue Shield.
Like I said, it us very good insurance. If we made more money we would have to pay into it like a few people have said - about $60 a month.
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neb
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# Posted: 9 Dec 2014 10:53pm - Edited by: neb
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SandyR >>>That does sound like a great benefit. I have been very lucky person having a job for 33 plus years and have had insurance but had to pay 20 percent of the premium. I did do some looking and I would have to pay about 900$ a month on the open market. I would have about 8 years till I would be able to get just a supplement when I turn 65 (86000$) Then the cost would go down. That is a lot of money but I would need to have it. That is what makes retiring early hard for me to do. SS will help at age 62 to off set the costs some. I will need to make a decision on what I need to do.
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JDPugh
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# Posted: 9 Dec 2014 11:19pm
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Depend's on what state you are in. Here in North Carolina they did not set up an exchange nor did they expand medicaid. Here is what I found out when looking for myself....my wife has medicare.
If you make more than $15,400 (two person house hold) or so in taxable income you are eligible for a "subsidy". If you make less however Obamacare wants to put you in medicaid which means you would pay nothing. However since North Carolina did not expand medicaid that's not available here. Your options are to pay 100% of the premium which are pretty expensive for a good plan or go without.
I would suggest that if you are in a state that has medicaid available avoid it if you can. Find a way to show enough taxable income to get you over the income threshold.
Personally, I do not see this system lasting long, did not agree with it, had my own Blue Cross plan before which I liked but it was canceled by Obamacare. Had Obamacare for 2014 and I just signed up for a 2015 Blue Cross plan plus dental for about $75.00 a month. Subsidy is somewhere around $650.00 a month. I see no way this can continue long....great for me, bad for the grandchildren who will be stuck with the bill.
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Wilbour
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# Posted: 10 Dec 2014 09:49am
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Here in Ontario, as is the case for all provinces, we have "free health care". I say "free" because it's paid for through our taxes. People of wealth would like for private clinics to open so they can get better/faster service. The one group claim that it would be unfair to those who have little money but the wealthy say that would take them out of the "queue" of the regular system and allow the free system to run faster. So now the wealthy travel to the US for elected surgery and spend Canadian $ out of the county. How doe's that benefit this county? Yes they are no longer in the queue of the free system but spending that kind of money in another country does not make "cents"
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ICC
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# Posted: 10 Dec 2014 10:03am - Edited by: ICC
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Quoting: toyota_mdt_tech If your answer is yes, why?
Maybe I phrased what I said poorly. The entire healthcare system system in the USA is broke. I believe we all deserve a better system that works for everybody. The USA spends more money per capita on healthcare than any other country in the world. But we have a shorter life expectancy than other developed western countries. Almost twice as much spent per person compared to Canada and Canuks live 3 years longer, for example.
More infant deaths. More pregnant women deaths. We suffer more deaths from alcohol and other drugs, and endure some of the worst rates of heart disease, lung disease, obesity, and diabetes.
The USA system is driven by money, by profits for big hospital and pharmacy companies. They make more money if I am sick than if I am healthy. The system wants to replace worn out knees but doesn't take the time and effort to keep us healthy so we don't need expensive services and prescription drugs. Rather prescribe a pill or give an injection.
The present system sucks. I was hit by a drunk driver a year ago. I had good insurance. I was unconscious, the ambulance took me to the nearest hospital. Two weeks in ICU and 6 of those days in a coma, and 2 months in the hospital. Part way thru the stay and hundreds of thousands of dollars, I was told my insurance was no good there. My insurance carrier did not have an agreement with them. The hospital 1/3 of a mile down the road was where I should have been taken. So a year later and countless dozens of conversations in person and on the phone, plus countless letters, I still owe the hospital over 50,000 dollars. The insurance company played around and paid some things. The hospital played around with its billing and reduced or waived some fees. But I am still left holding the pot even though I had some expensive insurance.
Fine state of affairs when you have to worry about where you are taken when you have no control over the matter. I'll wager that the Canuks on here don't have that worry.
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silverwaterlady
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# Posted: 10 Dec 2014 10:29am - Edited by: silverwaterlady
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It is very sad that we Americans do not have the freedom to reinvent ourselves due to the state of healthcare. I know people stuck in jobs they hate but can't leave because they would lose their health insurance,people that have been working stressful,demanding jobs for 30 years and want to retire but can't because they are to young for Medicare,people that will just work the bare minimum now so they can get free Obamacare while others are paying higher premiums to cover them,etc.....
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silverwaterlady
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# Posted: 10 Dec 2014 10:35am
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ICC, so sorry about the accident. Can you sue the drunk driver or the drivers insurance company to pay the remaining medical bills?
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ICC
Member
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# Posted: 10 Dec 2014 10:45am - Edited by: ICC
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Thanks for the concern and thoughts. You can't squeeze blood from a stone. He was unemployed, uninsured and unlicensed as well as being a habitual drunk. He did kill himself months later in a single vehicle crash, drunk again. That's another sad state of affairs. I'm more or less okay, can still do most of what I want to do. I set off metal detectors now (pins, plates and screws) I was walking on the city sidewalk and never even heard him coming from behind. He lost control on a curve, never hit the brakes. Never knew what hit me until later.
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toyota_mdt_tech
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# Posted: 10 Dec 2014 09:10pm
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ICC, I agree with your follow up post. I think we are on the same page.  
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Salty Craig
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# Posted: 10 Dec 2014 09:33pm
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I must chime in.
1st, I pay for my insurance with zero assistance from other Americans. (Government earns no money to help you, it's all taken from others)
2nd, I pay a fortune in private school tuition every year so my kids aren't exposed to the rot that is public education.
3rd, As long as Toyota lives, I won't be a Lone Ranger on this forum.
Salty
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toyota_mdt_tech
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# Posted: 10 Dec 2014 11:47pm - Edited by: toyota_mdt_tech
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Quoting: Salty Craig 3rd, As long as Toyota lives, I won't be a Lone Ranger on this forum. Salty
I bet we would get along great. 
My philosophy:
Work hard, play by the rules and do the right thing, even when n o one is looking.
I have no strings attached, I am not under anyone's thumb (debt free) . I am free!
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Salty Craig
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# Posted: 11 Dec 2014 06:40am
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I'm also free except bank loans. Don't take freedom for granted. It came to this country at a very high price. We are also just one mistake from losing it. The only reason our freedom still exists is enough Americans still believe that we are endowed by our Creator with certain unalienable rights. Life, Liberty, and the pursuit of Happiness.
Craig
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silverwaterlady
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# Posted: 11 Dec 2014 09:50am
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Hi Neb,sorry I went off topic. I am also retiring before I am eligible for Medicare. I went to the Obamacare web site for my state and was able to look at some of the available plans with prices determined by my projected earnings for 2015.
I did not go to the application page so I don't know if you can check out the app. There is quite a bit of information on the web site. Hope this is helpful info.
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neb
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# Posted: 13 Dec 2014 06:56pm
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silverwaterlady>> Oh no you are not off topic at all. It all helps what people are doing and that helps a bunch. I will go about 15 more months then throw in the towel. I enjoy the outdoors so much I can't see myself going any longer. This will give me time for some more planning. It is kind of a bitter/sweet for me. I will have 35 years at the same place so it won't be easy but it's time. Time for me!!!
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turkeyhunter
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# Posted: 13 Dec 2014 07:16pm
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Quoting: neb I will have 35 years at the same place so it won't be easy but it's time. Time for me!!!
I had 34 years counting my unused leave. And I have not been back since I cut the light switch off in my office the day I retired . That was over 5 years ago... the place will run with out you --I guarantee ya..LOL
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neb
Member
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# Posted: 13 Dec 2014 08:10pm
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Yep you are right TH. I'm looking forward to starting a new life.
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toyota_mdt_tech
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# Posted: 14 Dec 2014 12:44am
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I have had as of now, 26 yrs at my current employer. I have under 8 yrs before I can retire at the earliest. I will play it by ear. Wife is 5 yrs older, so she is only about a smidge over 2 years way. I will evaluate and decide then. But I think as soon as I can, I am gone. Wife and I have zero debt except for the second 20 acres lot we just bought, and that will be paid in several years. The plan is when the first one retires (be the wife), we will have zero debt, so the second 20 acres came at the right time. I want to build a larger cabin, more of a permanent home at my 40 acres. I'd love to do a log cabin, but the labor and moving large logs and the time it would take is a factor. I would attend the Log home Builders Assoc if I ever decided to go that route. I may attend it anyway.
Thats my plan and so far, everything is on course.
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