Blog, illness, insurance, retirement

Insurance Rant

Day 43

Today I will be ranting, so if you don’t really want to hear it, I will understand if you walk away now. I just need to get this off my chest.

Health Insurance

When we retired, we were on Cobra, a costly but good insurance program. We aren’t eligible for Medicare yet so when our Cobra expired, we had to buy health insurance to bridge the gap until we were eligible for Medicare.

We found a policy. It was double what we were paying per month and there is a $13,000 deductible before the insurance kicks in. Obviously, we bought it because we needed something in case of a catastrophic event.

Medicare

medicareSo Medicare is on the horizon. But that’s not straightforward or free like some people think. Part of it that covers hospitalization will be at no cost, but any doctors visits, deductibles and prescriptions are all something you need to buy.

If only it were simple and easy to understand.

Some people buy insurance managed by the Federal Government. Some people buy from an Insurance company that manages the healthcare offered by the government. That means you deal with the insurance company for claims. You might be required to go back to using an approved network of doctors. And that network may only be available in the state you live in.

If you want to cover non-insured costs like deductibles and services that Medicare does not cover you need a gap policy.

There is Part A, Part B, Part C, Part D, and today we received paperwork for Plan F, Plan G, and Plan N. What????????

Guess what? Not all doctors and hospitals even accept Medicare. That’s fun.

Eyes, Ears, and Teeth

Most plans do not cover eye exams, hearing aids or dental. And all those parts of our bodies get worse and in need of attention the older we get!

Plan Ahead

If you are young and healthy, try to stay that way. Watch your diet and get some exercise. If you haven’t been going to the doctor, go while you can avoid insurance. My insurance would cost 50% less if I was 10 years younger.

Also, SAVE, SAVE, SAVE. Your cost of living does not go down when you retire. The only money you don’t need to spend might be for work clothes and gas to get to and from work. Insurance is definitely more expensive the older you get. If you can retire with no car payment and no mortgage, I would highly recommend you try!

Right now I am fortunate to be as healthy as I am. I have some things I need to be better about and I am working on those things.

Health care is a BIG BIG business. And we are two of the fortunate people.

RANT OVER

To enjoy a long, comfortable retirement, save more today.
Suze Orman

 

 

 

 

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9 thoughts on “Insurance Rant”

  1. Insurance is the number one reason why I am afraid to retire. I sadly have many autoimmune diseases as well as other crap. I fear that what I have saved will disappear from medical expenses. I feel for you. Not a rant, a sad set of circumstances. I feel you.
    Gentle hugs,
    Lauren

    Liked by 1 person

    1. Lauren, it’s a mixed bag for sure. We retired before 65 when Medicare kicks in. We are glad we did because these will probably be our healthiest retirement years. Most of my friends on Medicare say that it pays for most things, but most of them cannot really tell me what Plan they chose. We are fortunate that our doctor accepts Medicare. It was just that gap before 65 that hurt us.

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  2. My gardening companion is now on Medicare, I’m still on our lame SC Retirement Health Insurance plan, but I’m still cognizant that we’re so much better off than most folks. There are still the monthly Medicare Payments and my PEBA (SC retirement expenses), not to mention the co-pays, etc.

    Ugh, and dental and vision care — well, that’s a whole another thing. We have “supplemental” plans via our SC State Health Plan, which helps, but…

    We’re more fortunate than most, for sure, but our health care system really is dismal in our country, compared to other places.

    Liked by 1 person

    1. It is dismal, indeed, Lisa. We thought sure we would go with BCBS plans but they are only good in the state and in their network. I certainly do not want to be that confined in my retirement years. And yes, we, too, are better off than a lot of people. I never lose sight of that.

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  3. I’m sorry you are having to go through this, Maggie. My hubster and I are each on Medicare A + B and then on my FEHB program. So we don’t need Medicare D, which has to do with pharmaceutical but you and your husband might.

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    1. Thanks, Marge. I am sure we will need D — otherwise, we pay a penalty if we pick it up later on. We are fortunate neither of us takes any prescriptions right now.

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  4. Popping in to say, I totally hear you on this! More than once I’ve wondered if health “insurance” is really worth the piece of paper it’s written on! :p

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I appreciate those who read and enjoy your thoughtful comments.

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