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In reply to the discussion: Anyone else planning on retiring early due to the availability of health insurance [View all]femmocrat
(28,394 posts)76. I have been postponing retirement because of health care...
but now I am seriously considering going after the next school year.
I have been waiting for this for a long time!
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Anyone else planning on retiring early due to the availability of health insurance [View all]
kelly1mm
Jun 2012
OP
not sure u should bet your retirement on the whims of politicians if your situation is marginal nt
msongs
Jun 2012
#1
But for health insurance (if we had to pay for it out of pocket) our investments cover 140% of our
kelly1mm
Jun 2012
#6
If your income is under 133% of the federal poverty line you would be able to switch
kelly1mm
Jun 2012
#20
Part of ACA was that medicaid eligibility was expanded to 133% of the poverty line.
kelly1mm
Jun 2012
#8
Definitely! I am in Maryland so our Governor is on board with the Medicaid expansion.
kelly1mm
Jun 2012
#10
Medicaid isn't that good. And not that many drs. will see Medicaid patients. As long as you're okay
Honeycombe8
Jun 2012
#37
I am in rural maryland and all my current doctors take medicaid. Not much choice in the poorer
kelly1mm
Jun 2012
#39
You are lucky. I wish you further luck. (wish I lived in Maryland, except it snows a lot there!). nt
Honeycombe8
Jun 2012
#40
That is my NUMBER ONE concern now (health insurance was number one). I have tried to have a mix of
kelly1mm
Jun 2012
#21
Thanks for the tip - I will have to look into that. I guess I am just getting a little excited
kelly1mm
Jun 2012
#11
Wrong. See new eligibility requirements under ACA. No asset limits after 2014.
kelly1mm
Jun 2012
#16
We have lots of assets (paid for house, 400k+ in 401k, 300k in non-tax deferred accounts,
kelly1mm
Jun 2012
#17
That is what we think too! Took a lot of work and sacrifice to get to this point but
kelly1mm
Jun 2012
#19
We are grid tied with a battery backup. During the summer, we generate all our
kelly1mm
Jun 2012
#23
Medicaid claw-back provisions were instituted because of people gaming the system
Gormy Cuss
Jun 2012
#57
Think of it as a jobs stimulus program if it makes you feel better. My job can go
kelly1mm
Jun 2012
#65
ACA specifically states there will be no asset testing. It takes away the current
kelly1mm
Jun 2012
#63
I linked to the federal register for the no asset limit rule in post 16 if you are interested.
kelly1mm
Jun 2012
#73
The Social Security Act was substantially revised only four years after it became law.
Gormy Cuss
Jul 2012
#83
Not any more. Medicaid used to be for the poor (income and assets) Under ACA, the asset limit
kelly1mm
Jun 2012
#75
I hope that those who may leave the workforce allow for more opportunities for you
kelly1mm
Jun 2012
#81
At 9% unemployment, it's a good thing if people are able to leave the workforce
Hippo_Tron
Jul 2012
#89
I live in rural Maryland. All my current health care providers take medicaid. nt
kelly1mm
Jun 2012
#25
Not under the ACA in 2014. The law specifically takes away the asset limitations for qualifying
kelly1mm
Jun 2012
#74
I guess you weren't paying attention to the part of the SOTUS decision that said
eridani
Jun 2012
#26
Nope, I read the opinion and know that that part of the decision. MD is going ahead with
kelly1mm
Jun 2012
#28
So fuck the people in other states who will not be able to get on Medicaid, right? n/t
eridani
Jul 2012
#98
I doubt there would be that many that would retire early because they want to.
LiberalFighter
Jun 2012
#27
I disagree. I believe a good number of 50+ year olds are only working for health care benefits
kelly1mm
Jun 2012
#31
I think this could also encourage more people to become self-employed or to join start-ups.
pnwmom
Jun 2012
#29
How do you know that about the insurance on the exchanges, since they haven't been set up yet?
pnwmom
Jun 2012
#41
I already know that the Bronze option (if I could even afford that with age rating)
eridani
Jun 2012
#42
You're right -- that's not enough, especially if you're talking about hospitalization costs.
pnwmom
Jun 2012
#44
Looks like that translates to people purchasing insurance but not being able to use it due to cost
suffragette
Jun 2012
#52
Thank you for the links. You are right, 60% is not enough, and that is one of the changes
pnwmom
Jun 2012
#60
I really don't see why there couldn't have been just a single plan, with an actuarial
eridani
Jul 2012
#86
We have a $5k cushion in current yearly interest/dividend income v expenses. Property tax is
kelly1mm
Jun 2012
#33
I am really hoping everything works out! I didn't let my wife know about the lifting
kelly1mm
Jun 2012
#38
absolutely more free to pursue other , non-paying interests. I think a good many will do as I am
kelly1mm
Jun 2012
#36
That is what I have heard by talking with a lot of my workmates. They want to retire
kelly1mm
Jun 2012
#67
Hang in there until you are 65 because you will not be eligible for Medicare until then.
RebelOne
Jun 2012
#68
The ACA allows insurance companies to charge people over 50 higher premiums
Lydia Leftcoast
Jun 2012
#71
Medicaid at under 133% of the poverty line has no/very small copays and that is what
kelly1mm
Jun 2012
#72
Do you think this will be a trend? I think about 10% of the people 50+ may be able to retire now
kelly1mm
Jun 2012
#78
I don't know how early you are talking about but I retired at 62. I tried to get disability but
southernyankeebelle
Jun 2012
#80