Health Care Insurance

#1
VolStrom

VolStrom

He/Him/Gator Hater
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#1
I retired this year at the ripe old age of 60 with the promise from my former employer that I could buy health insurance until I qualified for medicare. Well after my 35 years of working for them and them offering healthcare insurance, they decided to renege on their promise a few months after I retired and I no longer have coverage after the end of December.
They apparently think us former employees are stupid because their excuses for canceling it were. Bottom line is I need health insurance the first of the year and I'd like to know what my options are other than Obamacare. I
I have a health care condition that requires I take a rather expensive specialty drug so I'm guessing my options are few and far between.
 
#2
#2
VolStrom said:
I retired this year at the ripe old age of 60 with the promise from my former employer that I could buy health insurance until I qualified for medicare. Well after my 35 years of working for them and them offering healthcare insurance, they decided to renege on their promise a few months after I retired and I no longer have coverage after the end of December.
They apparently think us former employees are stupid because their excuses for canceling it were. Bottom line is I need health insurance the first of the year and I'd like to know what my options are other than Obamacare. I
I have a health care condition that requires I take a rather expensive specialty drug so I'm guessing my options are few and far between.
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I retired at 53 and after wife had a couple of surgeries our premium went from about 8k/yr to nearly 30 k per year. So I went back to work basically to get health insurance.
Good luck finding a policy that will cover preexisting conditions except Ocare. You will probably get a policy that covers everything except what has ever been wrong with you.
I hate them, and it is crummy insurance, but farm bureau might work for you.
 
#4
#4
kiddiedoc said:
You might consider looking into a cost-sharing program, also. I have a couple of friends with Medi-share who have been pleased with it thus far.
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We were on medi share for years until recently. Only reason we dropped and picked up BCBS was because my wife’s employer offered her family insurance for a tad more than MS but with better coverage. I recommend it to anyone looking to save some money and spend out of pocket
 
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#5
#5
kiddiedoc said:
You might consider looking into a cost-sharing program, also. I have a couple of friends with Medi-share who have been pleased with it thus far.
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Absolutely this. While I don't sell health insurance anymore, I'm still a licensed agent and I researched the daylights out of them last year and ultimately went that route. It has worked just as they said it would and if you're reasonably healthy, is highly recommend them.

The only hang up would be The expensive prescription drug. The drug coverage is limited. Otherwise, you'll save a lot of money. Get a quote and compare the savings to paying out of pocket for the prescription.
 
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#6
#6
VolStrom said:
I retired this year at the ripe old age of 60 with the promise from my former employer that I could buy health insurance until I qualified for medicare. Well after my 35 years of working for them and them offering healthcare insurance, they decided to renege on their promise a few months after I retired and I no longer have coverage after the end of December.
They apparently think us former employees are stupid because their excuses for canceling it were. Bottom line is I need health insurance the first of the year and I'd like to know what my options are other than Obamacare. I
I have a health care condition that requires I take a rather expensive specialty drug so I'm guessing my options are few and far between.
Click to expand...
Also... Was this a Group plan you were on? If so, you should be eligible for a COBRA extension of at least 18 months. It won't be cheap, but it might be your best option.
 
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#8
#8
Have you looked at the Affordable Health Care act policies...or Obamacare as you say? I used it for a year and honestly it was great. That was 14-15', but I was surprised how normal it was once I had it. It's basically a credit towards your healthcare policy that you choose. I've heard it's got worse but that could be just be heresay. It's at least worth looking at and not just dismissed because of its controversy. You're the kind of person who deserves assistance after being screwed over by a greedy employer. Best wishes.
 
#9
#9
GAVol said:
Also... Was this a Group plan you were on? If so, you should be eligible for a COBRA extension of at least 18 months. It won't be cheap, but it might be your best option.
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I elected to use the retiree plan instead of COBRA, so the retiree plan doesn't have to honor COBRA. The COBRA coverage was actually about a $100 less per month than the retiree coverage.

After a significant amount of research I've discovered that this may be a blessing in disguise, at least for a year. My pension barley squeaks under the $48k limit for government assistance and if I manage investments just right, Uncle Sam will pay $17k towards my healthcare premiums. In addition the specialty drug I take has a copay assistance card that will pay up to $15k that will cover the out of pocket maximum after which the Obamacare plan pays 100%. I may not be right about all of this, but it looks like I'll get free healthcare next year with no premiums and no copays.
 
#10
#10
VolStrom said:
I elected to use the retiree plan instead of COBRA, so the retiree plan doesn't have to honor COBRA. The COBRA coverage was actually about a $100 less per month than the retiree coverage.

After a significant amount of research I've discovered that this may be a blessing in disguise, at least for a year. My pension barley squeaks under the $48k limit for government assistance and if I manage investments just right, Uncle Sam will pay $17k towards my healthcare premiums. In addition the specialty drug I take has a copay assistance card that will pay up to $15k that will cover the out of pocket maximum after which the Obamacare plan pays 100%. I may not be right about all of this, but it looks like I'll get free healthcare next year with no premiums and no copays.
Click to expand...

Wow, that certainly sounds like a "win."
 
#11
#11
VolStrom said:
I elected to use the retiree plan instead of COBRA, so the retiree plan doesn't have to honor COBRA. The COBRA coverage was actually about a $100 less per month than the retiree coverage.

After a significant amount of research I've discovered that this may be a blessing in disguise, at least for a year. My pension barley squeaks under the $48k limit for government assistance and if I manage investments just right, Uncle Sam will pay $17k towards my healthcare premiums. In addition the specialty drug I take has a copay assistance card that will pay up to $15k that will cover the out of pocket maximum after which the Obamacare plan pays 100%. I may not be right about all of this, but it looks like I'll get free healthcare next year with no premiums and no copays.
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So. You are getting ACA?
If so you are correct. As little I come as possible. Spend down savings/no 401k, IRA withdrawals.
 
#13
#13
been here 37 years at 63 going to retire find another job with INS. The Farm Bureau was $1500 me and wife Cobra was close to the same... Looking for a job making half what I MAKE just to get Ins...
 
#15
#15
Orange Daddy said:
been here 37 years at 63 going to retire find another job with INS. The Farm Bureau was $1500 me and wife Cobra was close to the same... Looking for a job making half what I MAKE just to get Ins...
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Get the other job first. Government usually offers health insurance.
 
#16
#16
I would recommend saving about a 100,000 then move to another country. Then you don't need insurance just pay cash. It cost my company 33,000/year for my insurance. That's ridiculous! Damn that's my house note and property taxes.
 
#17
#17
overseasorange2 said:
I would recommend saving about a 100,000 then move to another country. Then you don't need insurance just pay cash. It cost my company 33,000/year for my insurance. That's ridiculous! Damn that's my house note and property taxes.
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Well "overseas" are you living overseas?
You are correct. You can live in France or many other countries without the fear of bankruptcy caused by the US health system.
 
#18
#18
Go aeiou said:
Well "overseas" are you living overseas?
You are correct. You can live in France or many other countries without the fear of bankruptcy caused by the US health system.
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Not anymore, but I lived in three different countires in the course of 12 years due to my job. Enjoyed everyone of them!
 
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