My husband is 2-1/2 years older than I. We've worked it out that he will retire at age 66 (December 31, 2006, which is also his birth month), go on Medicare, and I will continue coverage through his company policy under the COBRA rules for 18 months--then also switch to Medicare.

He had always dreamed of retiring early, but some things just aren't possible in this life. We will instead spend the next three years getting ready to retire with a bang. We are taking sailing lessons, and plan to buy a sail boat and live aboard. Over the next three years, we will dispose of "Things" we have accummulated over the 30+ years of our marriage, letting the three children have what they want, and take what they want for their children. The rest will be sold or given away. I have already shipped ten boxes of china and crystal and sterling flatware to our only daughter, and am now starting on the collectibles. It's amazing what a liberating feeling it is! And think what grief will be avoided when the last of us dies--nothing for the children/grandchildren/great-grandchildren to fight over! :)

We have each purchased long-term care coverage to protect our assets, and have had an estate plan drawn up to distribute whatever assets remain when the last one of us dies, so they don't even get to fight about the money. What a shame! (The boat will be sold and the money put in the trust.)

Because of certain pre-existing conditions, neither my husband nor I would have been able to buy health insurance of any kind at any price on the open market, so we just accepted that fact and planned around it.

Now for a question: How many of you would favor national health care coverage similar to Canada's? Five years ago, I would have run screaming in the opposite direction, but today? I'm not so sure I would.

Because of certain pre-existing conditions, neither my husband nor I would have been able to buy health insurance of any kind at any price

In principle, that statement is as stupid as saying "I couldn't buy car insurance because the bumper was already dented."

It's just one piece of evidence of how much our medical care & insurance system is ALREADY messed up by government intervention.

For those pre-existing conditions, why isn't the insurer that covered you when you developed them responsible? That's the way it would work with car, homeowner's, or liability insurance.

Now for a question: How many of you would favor national health care coverage similar to Canada's? Five years ago, I would have run screaming in the opposite direction, but today? I'm not so sure I would.

Canada's 100%-socialized medical system works as well as it does (which isn't all that well) because it has the US's only-about-65%-socialized medical system right next door.

A very cost-effective way for many US retirees to get routine medical care, though, is to take advantage of a loophole that lets you escape even that 65% socialization: go across the border into Mexico. Since you're outside the US, the US's efforts at socialized medicine don't apply; since you are rich foreign tourists (by Mexican standards, practically all American retirees are rich), Mexico's efforts at socialized medicine don't apply. Mexico is also one of those countries where drug prices are about where they would be if there weren't so many countries (all with socialized medical systems) saying to the drug manufacturers "Sell to us at barely above your cost of production, or don't sell to us at all" - in other words refusing to pay their fair share of development & testing costs, pushing those costs almost entirely onto the US.

<<Because of certain pre-existing conditions, neither my husband nor I would have been able to buy health insurance of any kind at any price on the open market, so we just accepted that fact and planned around it.
>>


You might be surprised.

Underb the Health Insurance Portability Act, most people coming off COBRA qualify for individual health insurance regardless of preexisting conditions. This varies somewhat depending on your state. In Washington State, a person coming off COBRA can sign up for any individual health insurance plan they wish with no exclusions for pre existing conditions. You should check the provisions your state makes under the HIPPA act.



Seattle Pioneer

HarrietB,

To address your question, but not directly answer it...

I too have been concerned about early retirement largely because of a fear of rising health insurance costs. Health care is so precious, yet its future costs seem to be wildly unpredictable when compared with the future costs of food and shelter, which seem to rise at a somewhat predictable rate with which we can cope (crossing my fingers here).

But if I look back at people in the past, they didn't get anywhere near the excellent health care that we now have - and people in the future may very well look back at us and be astounded at how little we got by on. I sometimes think of dropping health care altogether, and living the life which people once did. I think that's a rather drastic move, but the alternative may be living my life bound entirely by my need to support any potential medical costs. I hope I can find a middle ground. And I hope you keep looking and find a more pleasant alternative to your current chosen option.

Now on to a more enjoyable topic: I love the idea of retiring to a boat. I have a couple of questions. How large a sailboat will you live on? And, how will you determine your state of residence? Will you be traveling all over the world, or confine yourselves to the coastal waters of the US?

Good luck to you!

Rocannon

Now for a question: How many of you would favor national health care coverage similar to Canada's? Five years ago, I would have run screaming in the opposite direction, but today? I'm not so sure I would

Well I've experienced both socialized healthcare (UK) and, and private healthcare (here), and I can honestly say that I experienced no difference in quality.

I had a bizarre nerve condition in my arm that was diagnosed by a doctor in the UK (I'm in a textbook somewhere). When my US doctors are taking medical history, they are astounded that it was diagnosed at all given the symptoms.

I've had two dentists here in the US and both have commented on notable quality of my dental work and orthodontia. Both were provided under Britain's socialized system.

Okay, so these cases are anecdotal. Many of the horror stories circulating are probably true, but there are plenty of horror stories going around in privatised healthcare too.

I'm going back to socialised healthcare in Britain. I'm not the least bit concerned.

I've had two dentists here in the US and both have commented on notable quality of my dental work and orthodontia. Both were provided under Britain's socialized system.


There are dentists in Britain? That must be a boring job. I was over there last summer. Those folks have some seriously messed up teeth.

tutone

Hi Harriet

check out Ayduda's post
http://boards.fool.com/Message.asp?mid=19965820

I'm a bit surprised that there were no responses to that post.

Medical Savings Aaccount's (MSA) will be converted to Health Savings Accounts (HSA) in 2004 w/ the ability to accrue monies over the years and invest those monies similar to IRA's.

IMO, well worth a look for those considering retirement and payment for health care.

Ralph

There are dentists in Britain? That must be a boring job. I was over there last summer. Those folks have some seriously messed up teeth.

Do you mean they had crooked teeth? That's not a huge health hazard you know! It seems to be one of those stereotypes that exist in the US that the British have "bad teeth". What exactly does that mean? (I'm not baiting - I'm geniunely interested).

From my perception, all it means is that more British people tend to have crooked and stained teeth. But it's not like we're wandering around with blackened rotten teeth. So, IMO, we're talking cosmetics, but that's why I'm asking since "the British have bad teeth" statement is so pervasive here.

To be honest, Europeans think the Americans ubiquitous dazzling smiles are freaky. Everyone looks the same. It used to be that Americans traveling abroad were easily identified by their sneakers and their fanny packs (chuckle, you should look up "fanny" in a British dictionary), but now it's their teeth.


FreakyBeastie.

Okay, so these cases are anecdotal. Many of the horror stories circulating are probably true, but there are plenty of horror stories going around in privatised healthcare too.

As a combination effect... friend of mine is alive today thanks to both socialized and privatized health care. I doubt he's actually in a textbook somewhere, but so far as we know, he's the 3rd person diagnosed with his form of cancer who's actually survived longer than a year. The first two were patients under socialized medicine elsewhere around the globe; his doctor was geeky enough to find their case studies in time to save my friend.

Just another anecdotal data point, nothing more.

ILC

There are dentists in Britain? That must be a boring job. I was over there last summer. Those folks have some seriously messed up teeth.

Do you mean they had crooked teeth? That's not a huge health hazard you know! It seems to be one of those stereotypes that exist in the US that the British have "bad teeth". What exactly does that mean? (I'm not baiting - I'm geniunely interested).

From my perception, all it means is that more British people tend to have crooked and stained teeth. But it's not like we're wandering around with blackened rotten teeth. So, IMO, we're talking cosmetics, but that's why I'm asking since "the British have bad teeth" statement is so pervasive here.

To be honest, Europeans think the Americans ubiquitous dazzling smiles are freaky. Everyone looks the same. It used to be that Americans traveling abroad were easily identified by their sneakers and their fanny packs (chuckle, you should look up "fanny" in a British dictionary), but now it's their teeth.


FreakyBeastie.

===================

I was just yanking yer chain.

I did notice though that orthodontics don't seem so popular. Folks teeth do seem to point in all sorts of odd directions.

tutone