- My Forums
- Tiger Rant
- LSU Recruiting
- SEC Rant
- Saints Talk
- Pelicans Talk
- More Sports Board
- Fantasy Sports
- Golf Board
- Soccer Board
- O-T Lounge
- Tech Board
- Home/Garden Board
- Outdoor Board
- Health/Fitness Board
- Movie/TV Board
- Book Board
- Music Board
- Political Talk
- Money Talk
- Fark Board
- Gaming Board
- Travel Board
- Food/Drink Board
- Ticket Exchange
- TD Help Board
Customize My Forums- View All Forums
- Show Left Links
- Topic Sort Options
- Trending Topics
- Recent Topics
- Active Topics
Started By
Message
Estimated MONTHLY Health Care Cost for me @ 67- $8,400 - that's 28 yrs from now
Posted on 8/28/18 at 10:18 am
Posted on 8/28/18 at 10:18 am
I took a look at my 401k online account. One of the tabs shows an estimated monthly health care costs for me starting at 67 to be approximately $8,400 PER MONTH.
Can this be any where close to accurate?
I mean if this is correct, I am better off saving like I am for my kids and just taking a deadly amount of prescription drugs and taking that permanent slumber the day after my 67th birthday.
This figure has got me thinking "What the hell is the purpose of all of this if more than 1/2 of my projected monthly investment income will go to healthcare costs?"
ETA: this estimated cost is for long term care, co pays, Medicare supplement, and prescription drug plan.
Can this be any where close to accurate?
I mean if this is correct, I am better off saving like I am for my kids and just taking a deadly amount of prescription drugs and taking that permanent slumber the day after my 67th birthday.
This figure has got me thinking "What the hell is the purpose of all of this if more than 1/2 of my projected monthly investment income will go to healthcare costs?"
ETA: this estimated cost is for long term care, co pays, Medicare supplement, and prescription drug plan.
This post was edited on 8/28/18 at 10:25 am
10
Posted on 8/28/18 at 10:41 am to Covingtontiger77
Talk to some elderly people you know & trust: ask them how much they're spending on a Medicare Part B supplement. Then ask what their monthly incomes are....I don't doubt you'll find people, right now, spending 1/3 of their monthly retirement incomes to ensure they're not at the mercy of Medicare alone. So it's easy enough to imagine health care costs continuing to rise to even more stratospheric levels unless there is some kind of market reset.
We are going to collapse under the weight of health care soon. Or we will see retirees fleeing the country in droves....what a sad state of affairs.
My better half just had an MRI on his foot. Thinking about maximizing his schedule, he had the MRI at the local hospital down the block from his office. Dumb move: his portion of the test was $975. I called a local imaging-only place and they quoted $375 for the same test. Of course, all the $975 was out of pocket b/c we haven't met our deductible. Everyone, rich/poor, loathes the lack of transparency in pricing, billing practices, and outright larceny that masquerades as "free market healthcare" in the US.
We are going to collapse under the weight of health care soon. Or we will see retirees fleeing the country in droves....what a sad state of affairs.
My better half just had an MRI on his foot. Thinking about maximizing his schedule, he had the MRI at the local hospital down the block from his office. Dumb move: his portion of the test was $975. I called a local imaging-only place and they quoted $375 for the same test. Of course, all the $975 was out of pocket b/c we haven't met our deductible. Everyone, rich/poor, loathes the lack of transparency in pricing, billing practices, and outright larceny that masquerades as "free market healthcare" in the US.
Posted on 8/28/18 at 11:01 am to hungryone
quote:
My better half just had an MRI on his foot. Thinking about maximizing his schedule, he had the MRI at the local hospital down the block from his office. Dumb move: his portion of the test was $975.
Your last sentence is spot on; he's dumb. He went to a hospital and was surprised by a big bill? All he had to do was check with his insurer (you know, the people who pay the bill) prior to the test and they could've recommended the most effective pricing option based on his insurance plan.
Paying too much in this instance is purely his own fault.
Posted on 8/28/18 at 11:36 am to Covingtontiger77
quote:
Can this be any where close to accurate?
That's probably high. Fidelity says a 65 year old couple today needs $280k to cover medical costs to age 87/89 for the husband/wife. That's no slouch by any means, and it excludes LTC, but it's still a far cry from $8,400 per month for an individual.
Posted on 8/28/18 at 11:48 am to Covingtontiger77
quote:
for long term care,
Bingo. Take that out of the equation and its probably $1000/ month. LTC is extremely expensive, so not sure why that's a surprise really?
Posted on 8/28/18 at 12:33 pm to Covingtontiger77
Medicare Supplement insurance, Medicare Part B premiums, and a drug plan should run $250- $275 per month at 65. That’s with a deductible under $200 and the freedom to go anywhere in the country. Nothing to bitch about here.
Long Term Care insurance for same age bracket should run approximately $5000-$8000/year for a healthy couple. Self insuring for a long term care event could run you $40-$100k per year depending on level of care needed.
Long Term Care insurance for same age bracket should run approximately $5000-$8000/year for a healthy couple. Self insuring for a long term care event could run you $40-$100k per year depending on level of care needed.
This post was edited on 8/28/18 at 12:38 pm
Posted on 8/28/18 at 8:44 pm to Covingtontiger77
Long term care is amazingly expensive. At this point I'm considering not even budgeting for it and making sure I'm in a right to die state when I turn 60ish. I don't want to spend the most money of my life on the worst years of my life in a nursing home. Now, the million dollar question is will I have the same views when I'm 59+. I sure hope I do.
Posted on 8/28/18 at 9:50 pm to Covingtontiger77
This thread is depressing.
Makes me want to live more in the now
Makes me want to live more in the now
Posted on 8/28/18 at 10:31 pm to LSU6262
quote:
Makes me want to live more in the now
All we have is now. I wish that wasn't true, but it is the G-d's Honest Truth.
Posted on 8/29/18 at 6:17 am to Covingtontiger77
Have you adjusted that number for inflation? Or is it already adjusted?
Works out to be about $3600 in 2018 dollars assuming 3%.
Works out to be about $3600 in 2018 dollars assuming 3%.
Posted on 8/29/18 at 11:06 am to Covingtontiger77
Geeze it would just be so much easier to die.
Posted on 8/29/18 at 11:32 am to Covingtontiger77
That number probably assumes that (and data supports it) you will have diabetes and some form of dementia by age 67.
Avoid both of those and the number is meaningless.
Avoid both of those and the number is meaningless.
Posted on 8/30/18 at 7:50 pm to Covingtontiger77
quote:
Can this be any where close to accurate?
We have no clue what your health situation is, so it's impossible to answer. That said, if it turns out to be that bad you can always do the medical tourism route.
Or maybe just start eating right and exercising well. I know a guy who is 75 and runs half marathons. He's slow, but he finishes. Needless to say he isn't a fatty or on dialysis.
Page 1 of 1
Popular
Back to top
Follow TigerDroppings for LSU Football News