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If I get sick, I will be looking for other options, but for now supplement would not make sense.
I will be signing up in about six months. Hope it’s not too confusing!!!
Well for me I only see medicare options A B G K L NI signed up for A and B, as I am healthy and haven't had any sickness in years. Don't smoke/drink/drugs.I have to ask that question if you can change your options ea year or are you locked in once you start?I need to ask the supplement carrier how they handle excess charges. Costs being what they are, it probably prudent to have a plan for that also. The wife has serious medical costs so her sign up will be much different than mine, but thats 3 years off.
Congrats to you all for living long enough to be on Medicare. I see it getting taken out of my paycheck every week and wonder if I will ever see a benefit from it.
Retirement for me was predicated on becoming eligible for Medicare. Went with original Medicare and chose a retiree medical plan from my former employer offering a low deductible, low out of pocket annual limits, no lifetime maximum, and no in- vs out- of network BS.
We signed up for the F plan when we turned 65 because my wife has some expensive health issues and the same with myself. The advantage plans are OK, but if you want to change down the line to a better plan you are subjected to a health screening based on pre-existing conditions and of course age.
really?
Seems most here have their Medicare coverages covered. I'll throw some info in on when you should draw your SS benefits. I do basic pre-retirement benefit planning for Seniors when I have contact with them through my office. Often when someone draws their benefit at 62, they limit what they can earn while working after age 62.One of the criteria and basic input for when you should take your Social Security benefits would be to figure your longevity age. If your parents passed add their ages together and divide by 2. This will give you an age that could help you decide. 62, 66+ or 70. At age 70, you can work FT and receive 1/3 more of your benefit that you'd get at full retirement age 66+. If defer till age 70, you can keep adding to increase your benefits . The additional 3.5 year will increase your monthly amount and at age 70 which is the max amount that you can draw.If you're confused......consi der this as a pay increase to your monthly income at age 70 if you're still working which will be 1/3 more than if you took it at age 66+. Do you like your job or not? Hopefully you have other income streams that you can draw on. Pension, PT work, passive investment, 401K, IRA and/or retirement fund.There is another variable that I'll bring up. If you draw at age 62 and get a good paying job after that then you can pay back what you drew then wait to draw again at full retirement age at 66+ or the total max age of 70. As stated earlier you'll be increasing you monthly when you withdraw again.Hopefully you're eating better and taking care of yourself physically better than your parents thus improving your longevity age vs. your parents.You have a limit that you can earn while working at 62 and drawing while working.
Good info. Don't forget about spousal benefits. If you are the primary bread winner and your spouse has more longevity than you, you might want to wait in order to maximize their income when you are gone.
I'm so glad I don't have any of this to worry about in retirement. I feel for you guys. I retired at 57 and never gave health cover a second thought.Ciao
jeeze im jealous! They need to drop the age of eligibility at least 10 years. The only thing keeping me from an early retirement is health care costs.
just hoping my 401-k is fat enough by the time I'm 59.5 to carry me to full retirement age.... In that window, hopefully I can get on my wife's insurance from her workplace. There are many reasons to marry a hot younger woman, this is one I didnt consider when I made the leap, but hoping it pays off dividends!
The flip side of an age difference in a married couple is that if you marry a younger spouse who is for years on your employers medical plan, you need to prepare to pay for their health insurance individually when you stop working and switch to Medicare. I realized that after marrying a woman very slightly older than me, and she now kids me by saying I knew it all along and factored it into marrying her!