# Health sharing before Medicare?



## Son Jester (Mar 5, 2020)

Hi all,
So I’m hoping to retire possibly later this year and with me being just a couple of years shy of Medicare and my wife still about six years away we are trying to find an affordable way to cover our health care.  COBRA is out of the question as it would be over $1600 a month so we are wondering if a Health Sharing ministry might be the answer.  Anyone used that or are using that and are happy with it?  Is it an affordable alternative or are the private health insurance plans worth considering?  Any advice would be greatly appreciated.


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## Butterfly (Mar 5, 2020)

Check in with an INDEPENDENT insurance broker and see what information you get from them.  It won't cost you anything and can save you a bundle.  Not a broker affiliated with a particular insurance carrier, but an independent broker.

IMHO health insurance, especially as we get older, is WAY too vital and complicated an arena to try to navigate on your own.

And no, I don't think a health sharing ministry is a reliable or viable way to go.


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## Son Jester (Mar 6, 2020)

Butterfly said:


> Check in with an INDEPENDENT insurance broker and see what information you get from them.  It won't cost you anything and can save you a bundle.  Not a broker affiliated with a particular insurance carrier, but an independent broker.
> 
> IMHO health insurance, especially as we get older, is WAY too vital and complicated an arena to try to navigate on your own.
> 
> And no, I don't think a health sharing ministry is a reliable or viable way to go.


Thanks for your response.  Apparently this was not the way to solicit a wide variety of opinions or advice.


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## Pepper (Mar 6, 2020)

Son Jester said:


> Thanks for your response.  Apparently this was not the way to solicit a wide variety of opinions or advice.


You did get an excellent response though.  If it's good, one is all you need.


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## Aunt Bea (Mar 7, 2020)

IMO it really depends on your financial situation.

It's not really health insurance it's wealth insurance.

If you rent, your income is primarily from monthly pension/social security, and you are healthy then you might be able to go commando.

If you own a home, have substantial savings/investments and or preexisting medical conditions then I think it would be wise to have a quality healthcare plan.

If the cost of health insurance is an issue I would keep working.

Good luck!


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## Butterfly (Mar 7, 2020)

I agree with Aunt Bea above.  I would keep on working if it was the only way I could have affordable health insurance.  A major health issue, like a heart attack or a bad car accident involving an uninsured driver, or a zillion other things, could wipe you out financially in no time.  Inadequate or no health insurance is just to big a risk to take, IMHO.

Working another couple of years is a small price to pay to protect your assets, IMO.


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## gennie (Mar 7, 2020)

There was a good interview with regulators concerning Health Care Ministries on either PBS or NPR recently. Sorry but cannot find now but be sure to investigate thoroughly before going there.  Many pitfalls.


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## Son Jester (Mar 7, 2020)

I didn’t want to discount the good advice I did get.  I truly appreciate any advice offered here to help me make some well informed decisions about this.  I was just hoping to tap into the wealth of wisdom I seen in many of the other threads I’ve read on this site.  Finding out what’s possible health insurance wise / price  wise at this stage in the game will help us decide if we can afford to retire.  I’m now researching independent insurance brokers as has been suggested.


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## OneEyedDiva (Mar 7, 2020)

I agree with Butterfly's reply.  That COBRA charges what they charge is just ridiculous. How are people who've just lost their jobs or left work for whatever reasons, supposed to be able to afford that?!


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## Lethe200 (Mar 20, 2020)

COBRA is not "ridiculous". That is the true cost of healthcare in America. It's hidden from many people because most corporate employers pay the bulk of the cost. That's why there's a difference between what a permanent employee makes "per hour" and what the true cost is when benefits are factored in.

Talk to anyone who is self-employed, and you'll get a truer picture of what healthcare actually costs in the USA.


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## Aneeda72 (Mar 27, 2020)

My husband can not afford to retire due to my wide variety of medical problems, not to mention his own.  In 2018 (maybe 2017), my stomach decided not to work.  I was in the hospital for 2 1/2 weeks being tube fed into my colon.  

Suddenly, I got better.  The doctors wanted me to go to a nursing home for two months.  Stayed for one day, awful, would rather be dead.  But that one day cost 2400.  I had to take insulin because their food was carb heavy.  

The total bill was over 200,000.  On an 80/20 plan, we would have owed 20,000 plus.  Just imagine if I had stayed for two months in the nursing home.  Since we had our primary insurance through his work and Medicare, we pay about 500 a year out of pocket.

You just never know.


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## WhatInThe (Apr 22, 2020)

Lethe200 said:


> COBRA is not "ridiculous". That is the true cost of healthcare in America. It's hidden from many people because most corporate employers pay the bulk of the cost. That's why there's a difference between what a permanent employee makes "per hour" and what the true cost is when benefits are factored in.
> 
> Talk to anyone who is self-employed, and you'll get a truer picture of what healthcare actually costs in the USA.


I mostly agree except COBRA is the true cost of health insurance not actual care. It all depends on the plan and company. I've had cobra 10 times the premium cost of what the employer offered and other jobs the cobra only doubled. A lot of states you get a basic Blue Cross type plan with higher deductibles. COBRA is nice if you have existing issue that need more procedures and dr visits. If you just want the basics covered ie don't go broke shop plans.


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## justinbrock (Jun 2, 2020)

Son Jester said:


> Hi all,
> So I’m hoping to retire possibly later this year and with me being just a couple of years shy of Medicare and my wife still about six years away we are trying to find an affordable way to cover our health care.  COBRA is out of the question as it would be over $1600 a month so we are wondering if a Health Sharing ministry might be the answer.  Anyone used that or are using that and are happy with it?  Is it an affordable alternative or are the private health insurance plans worth considering?  Any advice would be greatly appreciated.



It really depends on the state. Some states have decent short term medical options that may bridge the gap. OneShare is probably the most comprehensive healthcare sharing ministry. Medicare is okay too, but basically they pay nothing for preventative or until their "Annual Household Portion" is met. That's similar to a family deductible. If it's just you than it would be like an individual deductible.


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## old medic (Jun 2, 2020)

Im not sure whats the real name but there a nurse at the hospital that has something like this and is very happy with it.
Think her husband had back surgery done.


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## Yosh (Jun 18, 2020)

I think the state you live has a huge impact.  The states that fully implemented Obamacare have fairly decent and affordable plans that are subsidized for many people.  Here's a link to the healthcare.gov calculator for subsidies.  https://www.healthcare.com/aca-subsidy-calculator-40154


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