rec7 wrote:Looks like mine will be free.
http://laborcenter.berkeley.edu/healthp ... alculator/
hicabob wrote:Probably obvious - but getting/staying healthy should be a priority which keeps costs down and retirement fun up, so listen to the doc when he tells you to exercise 4 times/week or more and get that BMI under control.
Raybo wrote:I retired in 2000 at 48. I've always paid for my own health insurance and know that I can expect 10% increases year after year from Kaiser, my insurer. While I find this increase outrageous, that estimate has been accurate for past 15 years or so.
In my retirement model, I assume that medical costs will grow at 10% per annum until I am 65. At that age, I assume they will continue at that rate, but not increase. I have no idea what medicare coverage will cost me but am assuming it won't be any higher than approximately 75% higher than what I am paying now (about $600/mo).
Ultimately, you have to decide if you want to work longer to have more of a cushion or retire earlier and run the risk of running low on money at an advanced age. Only you can decide how to play that trade-off.
My spending is still well below a 4% burn rate so even with escalating health insurance costs, I am keeping my expenses down to where I feel comfortable.
Rich in Michigan wrote:Does your employer allow you to continue enrollment in their group medical plan, albeit with higher premiums?
Both my wife and I retired at 60 and we both had that option with our respective companies, either as individuals or family coverage. Yes, the premiums went up markedly, and no the employer no longer contributed, but ours is still a good deal. Great coverage at a better price than we could get on the open market.
You should investigate that if you have not done so already.
Planning for medical costs is an important factor in any retirement decision and even more so for early retirees.
TheDoctor wrote:For anyone who's planning on retiring before age 65, how do you plan for health insurance / medical expenses prior to becoming eligible for Medicare? I'm aiming for early retirement and am investing with a goal of becoming financially independent, but I'm not sure how to plan for the loss of employer health insurance if/when I decide to stop working.
SimonJester wrote:Hmmm Question, if you retire you have no income other then say interest and capital gains for the year. So you could have several million in a Roth IRA and pull out as much as you want and still have no / low income and qualify for the Federal Premium Subsidy?
Hexdump wrote:Does anyone know what the plans being offered by the exchanges will look like ?
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