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Retirement Discussions / Retire Well on Less


Subject:  Re: Health Insurance? Date:  2/18/2005  11:57 PM
Author:  hjg0989 Number:  820 of 1845

"How do you early retirees manager health costs? "

Yea, this seems to be the big question. I keep beating myself up for not starting retirement saving earlier. The reality is, even if I had I don't think I would have had enough to go out early and pay for medical insurance on my own.

Three years ago, I had a MRI for a hearing problem and it showed an unrelated brain anurysm that had probably been sitting there for years. Everything went well with absolutely no after effects, but the medical expense was huge. Fortunately I was working and had full blue cross coverage. I have since decided that I will stay employed until I can retire at 56 with full health bennies.

The scary thing to me is that private policies can be cancelled if claims become to high. This should be illegal. The purpose of insurance is to have it in case there are huge medical expenses. It doesn't seem fair that they collect premiums for many years when there are minimal claims filed, yet they can drop us if we exceed a limit.

I don't believe they can drop individuals if they are covered under a group plan.

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