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Author: intercst Big funky green star, 20000 posts Top Favorite Fools Top Recommended Fools Feste Award Nominee! Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 737267  
Subject: Health Insurance Costs Date: 1/24/2000 11:17 AM
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Check out the rate tables at the Texas Health Pool web site, see link:

http://www.txhealthpool.com/

Rates are as high as $700/month per person ($1,400/mo. per couple) for folks age 60 to 64. That's the mortgage payment on a good size home here in Texas.

Make sure you thoroughly study the health insurance issue and have good coverage in place before you "pull the trigger." (On early retirement, that is, not the trigger on a pistol. <grin>)

intercst
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Author: gettergo One star, 50 posts Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 2543 of 737267
Subject: Re: Health Insurance Costs Date: 1/24/2000 9:21 PM
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Intercst;

Your information on the costs of health coverage on this board, and your home page, have been the best source on the subject I have have found. Thanks.

I wonder though, for those who RE for a life of, say, RV full timing, whether South Dakota might not be a better choice than Texas, for establishing residence. I won't disparage the great state of S.D., by saying it's not "ideal" for year round living, but should you be a "part time" or traveling resident, there may be an advantage.

Like Texas, S.D. has no state income tax. Additionly, I understand that the sales tax is less, as is vehicle insurance. On the health insurance cost issue, SD. is a State Guaranteed Issue state, compared with Texas being a High Risk Pool state.

I wonder if anyone has compared the health insurance costs between the two states?

Dave G.

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Author: dkrichards One star, 50 posts Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 2567 of 737267
Subject: Re: Health Insurance Costs Date: 1/25/2000 4:53 PM
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<<Make sure you thoroughly study the health insurance issue and have good coverage in
place before you "pull the trigger.">>

I'm just starting to look at the possibility of retiring at age 53. Health benefits, pensions, etc don't start until age 55. Can you suggest a good starting point to complete the "study" above? We've got a good PPO now, and would like to have something like that. I've heard cobra might be the way to go, especially since we'd have 18 months max until the regular retirment health care kicks in (along with the pension <g>).
Thanks.

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Author: arrete Big funky green star, 20000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 2571 of 737267
Subject: Re: Health Insurance Costs Date: 1/25/2000 5:11 PM
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I'm just starting to look at the possibility of retiring at age 53. Health benefits, pensions, etc don't start until age 55. Can you suggest a good starting point to complete the "study" above? We've got a good PPO now, and would like to have something like that. I've heard cobra might be the way to go, especially since we'd have 18 months max until the regular retirment health care kicks in (along with the pension

COBRA is probably the best way to go. We're in a similar situation, and I've checked with several insurance programs (I'm in Virginia). In a lengthy discussion with a representative from USAA (they will find several health insurance possibilities for you), we determined that ultimately the cheapest method was COBRA, even though you pay the whole amount. Buying individual policies at our advanced ages is generally more expensive than COBRA, especially if there are any pre-existing conditions.

If anybody out there has a better notion, I'd love to hear it. (OK-see it).

arrete

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Author: windhoven One star, 50 posts Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 2574 of 737267
Subject: Re: Health Insurance Costs Date: 1/25/2000 5:37 PM
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I found Health Insurance in the state of Minnesota
that is only $77.00 per month. This is for a $500 annual deductible, with 50/50 co pay of the next $5000
and then they take care of the rest up $5 million.

This cheaper rate may have something to do with being a non smoking 33.75 year old.

Cheers,
Windhoven

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Author: dkrichards One star, 50 posts Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 2647 of 737267
Subject: Re: Health Insurance Costs Date: 1/28/2000 9:14 AM
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<<COBRA is probably the best way to go. >>

Thanks for the reply. Yes, it's starting to look like Cobra is going to be the best for us, assuming it can be had for 18 months after I leave this company. I've asked our benefits department about that, but have not received a reply from them yet.

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Author: dkrichards One star, 50 posts Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 2648 of 737267
Subject: Re: Health Insurance Costs Date: 1/28/2000 9:15 AM
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<<This cheaper rate may have something to do with being a non smoking 33.75 year old.>>

Yep. My wife and I are in our early 50s, and both have "pre-existing" health care needs. Nothing major, but I suspect our cost would be nowhere near $77 month....more like 3-4 times that!

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