Are you delaying Retirement so your Adult Children can have medical coverage?

[Anonymous]

Anonymous wrote:

Anonymous wrote:OP however my older kids have jobs however, it is expensive out of their paycheck and "technically" free for me as I have to have the family plan was my wife and kid in college is on it anyhow. I have medical, dental and vision for five people on plan.

If I quit my two oldest would go on their work plan, my one in college I guess some type of bare bone college plan (but I would end up paying the policy plus who knows if she even would have dental or vision coverage).

It is like a crazy domino effect.

And I don't think it is crazy in US my insurance is tied to my job. I do think having kids ands spouses dependent on it and something they cant control is crazy.

Where do they work and where do you work?

My kid pays $0 for their health insurance for their job because premiums are like nothing for single 20 somethings in good health. Assuming he stays with the company, I think he will have to pay something when he moves to a family plan.

I mean, what are your older kids going to do when they hit 27? You might as well cut the chord now and get them used to budgeting for insurance.

I wonder if some companies are taking advantage of knowing their new hires can stay on their parents' plans until 26 and not offering health insurance to new college grads. My nephew works for a special arm of a FAANG out of college and is still on his parents' insurance.

[Anonymous]

Anonymous wrote:

Anonymous wrote:OP however my older kids have jobs however, it is expensive out of their paycheck and "technically" free for me as I have to have the family plan was my wife and kid in college is on it anyhow. I have medical, dental and vision for five people on plan.

If I quit my two oldest would go on their work plan, my one in college I guess some type of bare bone college plan (but I would end up paying the policy plus who knows if she even would have dental or vision coverage).

It is like a crazy domino effect.

And I don't think it is crazy in US my insurance is tied to my job. I do think having kids ands spouses dependent on it and something they cant control is crazy.

Where do they work and where do you work?

My kid pays $0 for their health insurance for their job because premiums are like nothing for single 20 somethings in good health. Assuming he stays with the company, I think he will have to pay something when he moves to a family plan.

I mean, what are your older kids going to do when they hit 27? You might as well cut the chord now and get them used to budgeting for insurance.

Cut the cord now and have them pay more for worse insurance? Better to have them contribute to the premium paid by the parent until they hit 27. The dollars add up and we all need more of them in this economy.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:OP however my older kids have jobs however, it is expensive out of their paycheck and "technically" free for me as I have to have the family plan was my wife and kid in college is on it anyhow. I have medical, dental and vision for five people on plan.

If I quit my two oldest would go on their work plan, my one in college I guess some type of bare bone college plan (but I would end up paying the policy plus who knows if she even would have dental or vision coverage).

It is like a crazy domino effect.

And I don't think it is crazy in US my insurance is tied to my job. I do think having kids ands spouses dependent on it and something they cant control is crazy.

Where do they work and where do you work?

My kid pays $0 for their health insurance for their job because premiums are like nothing for single 20 somethings in good health. Assuming he stays with the company, I think he will have to pay something when he moves to a family plan.

I mean, what are your older kids going to do when they hit 27? You might as well cut the chord now and get them used to budgeting for insurance.

Cut the cord now and have them pay more for worse insurance? Better to have them contribute to the premium paid by the parent until they hit 27. The dollars add up and we all need more of them in this economy.

I agree with you on this as it's not a big deal to keep them on a current plan if you're still working, but to bring it back to the original question. Heck no, I wouldn't delay retirement just to provide insurance to my 22-26-year-old. They can get their own damn insurance at that point. I've spent a fortune on their education.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:OP however my older kids have jobs however, it is expensive out of their paycheck and "technically" free for me as I have to have the family plan was my wife and kid in college is on it anyhow. I have medical, dental and vision for five people on plan.

If I quit my two oldest would go on their work plan, my one in college I guess some type of bare bone college plan (but I would end up paying the policy plus who knows if she even would have dental or vision coverage).

It is like a crazy domino effect.

And I don't think it is crazy in US my insurance is tied to my job. I do think having kids ands spouses dependent on it and something they cant control is crazy.

Where do they work and where do you work?

My kid pays $0 for their health insurance for their job because premiums are like nothing for single 20 somethings in good health. Assuming he stays with the company, I think he will have to pay something when he moves to a family plan.

I mean, what are your older kids going to do when they hit 27? You might as well cut the chord now and get them used to budgeting for insurance.

I wonder if some companies are taking advantage of knowing their new hires can stay on their parents' plans until 26 and not offering health insurance to new college grads. My nephew works for a special arm of a FAANG out of college and is still on his parents' insurance.

Some companies allow their employees to opt out of one benefit like health insurance and use that towards another benefit. Win win situation.

[Anonymous]

I plan to retire early at 55 and pay for the family coverage @2k per month, kid will be 18

[Anonymous]

Anonymous wrote:America's growth and prosperousness depends on people working. Tying health insurance to job is one way to force more people to work. If you are ready to retire, I do not think providing health insurance to your very adult children should stop you. You can always subsidize their ACA plan if you feel an obligation to help.

In other words, we are all working for capitalism, and not vice versa.

[Anonymous]

Anonymous wrote:I think it's more likely that parents peg their retirement to their kids' college years and the expense of tuition.

Most grad schools have health care plans available. It's reasonable for people age 22-26 who work full time to opt in to their employer plan (just as you do!). I mean - I think keeping my kids on my health insurance until 26 is a nice perk, but generally not one I'd make my own life decisions around unless my kid had substantial medical needs and no other path to insurability.

+1

[Anonymous]

Anonymous wrote:OP however my older kids have jobs however, it is expensive out of their paycheck and "technically" free for me as I have to have the family plan was my wife and kid in college is on it anyhow. I have medical, dental and vision for five people on plan.

If I quit my two oldest would go on their work plan, my one in college I guess some type of bare bone college plan (but I would end up paying the policy plus who knows if she even would have dental or vision coverage).

It is like a crazy domino effect.

And I don't think it is crazy in US my insurance is tied to my job. I do think having kids ands spouses dependent on it and something they cant control is crazy.

Why do you think it's reasonable?

Should access to education also be tied to W-2 employment?

[Anonymous]

America's growth and prosperousness depends on people working. Tying health insurance to job is one way to force more people to work. If you are ready to retire, I do not think providing health insurance to your very adult children should stop you. You can always subsidize their ACA plan if you feel an obligation to help.

Unfortunately, tying health care to employment also harms small business development and entrepreneurship.

[Anonymous]

Anonymous wrote:

Anonymous wrote:OP however my older kids have jobs however, it is expensive out of their paycheck and "technically" free for me as I have to have the family plan was my wife and kid in college is on it anyhow. I have medical, dental and vision for five people on plan.

If I quit my two oldest would go on their work plan, my one in college I guess some type of bare bone college plan (but I would end up paying the policy plus who knows if she even would have dental or vision coverage).

It is like a crazy domino effect.

And I don't think it is crazy in US my insurance is tied to my job. I do think having kids ands spouses dependent on it and something they cant control is crazy.

Why do you think it's reasonable?

Should access to education also be tied to W-2 employment?

Ny personal insurance. I think it is crazy a Dad with a SAHM and three kids he loses his job the wife and kids also lose health insurance. It also sucks in divorce or death for spouse and kids if one parent is sole source of health insurance.

And yes, my prior company I worked at was a young hip start up. I say 40 percent of company under 26 and single. Most people could care less about are medical insurance plans. Pretty cheap for company if 40 percent of company dont sign up for medical.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:OP however my older kids have jobs however, it is expensive out of their paycheck and "technically" free for me as I have to have the family plan was my wife and kid in college is on it anyhow. I have medical, dental and vision for five people on plan.

If I quit my two oldest would go on their work plan, my one in college I guess some type of bare bone college plan (but I would end up paying the policy plus who knows if she even would have dental or vision coverage).

It is like a crazy domino effect.

And I don't think it is crazy in US my insurance is tied to my job. I do think having kids ands spouses dependent on it and something they cant control is crazy.

Why do you think it's reasonable?

Should access to education also be tied to W-2 employment?

Ny personal insurance. I think it is crazy a Dad with a SAHM and three kids he loses his job the wife and kids also lose health insurance. It also sucks in divorce or death for spouse and kids if one parent is sole source of health insurance.

And yes, my prior company I worked at was a young hip start up. I say 40 percent of company under 26 and single. Most people could care less about are medical insurance plans. Pretty cheap for company if 40 percent of company dont sign up for medical.

I guess I agree with you, but I'm also a capitalist at heart and don't want to pay for the whole country's insurance via increased taxes. I could get on board with a health care system that people buy into that is not tied to employment.

[Anonymous]

We are Tricare, so our kids get kicked off at 23 or when they graduate from college. They can go on Tricare Young Adult to age 26, but the premium is $700/month, and they can likely do better on the exchange or on an employer’s plan.

Frankly, it’s been pretty motivating for one of our kids.

[Anonymous]

I hadn’t thought about that. I plan to keep working until my youngest graduates from college (hopefully when I’m 62). My retirement benefits include pretty good insurance. I hope I won’t feel the need to work beyond then, but that’s still several years away.

[Anonymous]

Anonymous wrote:I hadn’t thought about that. I plan to keep working until my youngest graduates from college (hopefully when I’m 62). My retirement benefits include pretty good insurance. I hope I won’t feel the need to work beyond then, but that’s still several years away.

But what happens kid cant get job or goes to grad school?

Does your retirement healthcare include children?

[Anonymous]

Anonymous wrote:OP however my older kids have jobs however, it is expensive out of their paycheck and "technically" free for me as I have to have the family plan was my wife and kid in college is on it anyhow. I have medical, dental and vision for five people on plan.

If I quit my two oldest would go on their work plan, my one in college I guess some type of bare bone college plan (but I would end up paying the policy plus who knows if she even would have dental or vision coverage).

It is like a crazy domino effect.

And I don't think it is crazy in US my insurance is tied to my job. I do think having kids ands spouses dependent on it and something they cant control is crazy.

It’s a benefit. You don’t have to take advantage of it.