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In reply to the discussion: Anyone else planning on retiring early due to the availability of health insurance [View all]truedelphi
(32,324 posts)97. I find your concerns to be genuine
California has been very liberal in terms of bringing people aboard with county health insurance and what not. But now we are in trouble with our state deficit.
And this means state funding to clinics will be negligible. So even though "technically" people will have health insurance, once the clinics start closing, good luck with finding a doctor if you are on Medicaid.
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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