Quoted from cottonm4:When I turned 65 I got on Medicare. Medicare Part A costs nothing and covers very little. Part B, which costs $144.00 month; You don’t have to buy it but you a fool if you don’t.
But Part B, while it covers more than just Part A, is still limited. So, you need to buy Part C which is private insurance you buy. Part C is subsidized by the Federal Govt. My cost is 122.00 per month.
The insurance companies come courting you when you approach 65 because the Govt. subsidy pay them every month like clock work.
With Medicare your annual deductible is $184.00 per year.
So, with my Part B costing $144.00 month and Part C costing me $122.00 per month for a total I am spending $266.00 per month for full medical coverage and with only a $184.00 deductible.
Contrast that with Obamacare for $ 220.00 per month and a yearly $7500.00 deductible. So, if you really need Obamacare and get sick the first $10,000.00 per year is on you. This makes Medicare a screaming bargain.
The downside is prescription drugs . If you want drug coverage expect to pay around $100.00 month for the coverage, whether you use it or not.
All in all, because of healthcare costs, I never have been as I was the day I turned 65. It was like someone lifted the weight off of Atlas’s shoulders.
LOL all the major milestones one hits in life if they are fortunate :
18 (Draft card, could vote and we could legally drink...well back in the day)
21 (more important now than in the past, you were an adult)
25 (Quarter Century, closer to 30 than 20 ugh!)
30 (do not trust anyone over 30)
40 (life begins at 40)
50 ( the new 40)
62 (Social Security eligible )
65 ( Medicare eligible thank god, closer to 70 than 60...F me!)
Tough time to retire with COVID going. Got all the time to do what you want but can not go anywhere to do it....
Stay safe