No. of Recommendations: 0
math999man writes,

my mother has a friend that spend $300 / month for insurance (a low amount for todays seniors) - at 20% increase / year after 20 years, the monthly rate is $11,000. granted, 20% is a LOT but even if 1/2 that - the monthly cost will be $2,000.

I have no special medical condition. The notice my employeer passed out was to the whole company - not just me. I am a senior project engineer - a professional position - 45 years old, with 20 years experience. So - I would have expected some reasonable coverage by my employer after a total of 30 years of service when I retire.

The reason I am posting this experience is to let others know not to take it for granted that medical expenses will be covered by your employer. All companies are reducing cost and what better costs to cut back on then costs associated with future retired workers - they will not be a concern in 20 years to the present management.

Several people at work that are close to retirement (5-7 years) are thinking of becoming Canadian citizens for the socialized medical coverage.

I think a lot of the present day workers are in for a big surprise when they retire.


I agree.

I retired in 1994 at age 38 after working 17 years as an Engineer. I'm planning on arranging my finances so that I have $100,000 per year available for health insurance when I'm 65. (I'm paying $4,000 this year at age 46.)

However, I suspect we won't get to the point where the average person is paying $100,000 per year for health insurance. There'll be some kind of revolution long before that happens.

intercst
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