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

[Anonymous]

Anonymous wrote:

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?

What happened in 2009? Adults figured out their medical insurance.

[Anonymous]

Anonymous wrote:Don't most colleges have a plan you can buy into for students? What about ACA? We will most definitely be retired when our youngest starts college.

Of course the ACA is available now it will not be in a year. Maga stupids

[Anonymous]

Never had work offer health insurance or any benefits.
18-year old started college in new state as an independent student. He rents a room near college, works, will do his own taxes, registered to vote, got his DL there, bought a car, applied for medicaid and got it.
I don 't know too many parents who have done what I did, but it works for us for several reasons.
I won't touch the 529 if it interferes with him being independent and getting in-state tuition in a year. I will look into that.
I stayed in another state with younger child.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

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.

Do you view healthcare as a consumer product and not a basic entitlement (like education, clean water, paved streets)?

I view basic, lifesaving healthcare as something we should provide to all, but I don't view full health care as an entitlement. I understand it's more nuanced than that, but at the core, I don't want to pay more taxes to insure someone else's 25-year-old.

You are willing to pay taxes to educate other people's children, correct?

FYI, you pay taxes to insure senior citizens and people who qualify for Medicaid.

[Anonymous]

Anonymous wrote:No, we will have Tricare for life at 42, thankfully!

To the PP who doesn't support paying for others' health insurance: Tricare: Your tax dollars at work.

[Anonymous]

Anonymous wrote:We asked our kids to get their own insurance plans through their employers. Yes, it costs them but we felt it's important for them to become independent. We randomly give them more money than what they spend but we stopped paying for insurance once they got employed.

This trend of employed kids living at home, staying on parental insurance and phone plan etc is enabling them to have a faux lifestyle they can't afford. They need to learn to be self sufficient and live within their means. I see young women carry designer bags, wear overpriced shoes, travel to exotic places, eat at fancy restaurants and drive luxury cars but not having money to pay for healthcare or utilities. What's up with that?

I am OP but me asking my 25 and 23 year old to sign in employer policy just sucks money they could be saving in their savings account or putting in 401k. I am 63 but still work and with an 18 year old still in family plan. So for now their insurance costs me zero extra. I plan to work till youngest graduates college when I am 67.

Not kid related but my wife is a bit younger she turns 65 when youngest graduates college. So if I quit before 65 she also has insurance problems, kinda crazy I can’t even retire at 65 without my wife and youngest kid losing insurance.

[Anonymous]

How much is a plan for emergency medical care? That is what I had in the late 90s - 150 for the year. Most healthy 20 somethings don’t need the kind of coverage that their parents need.

[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.

A lot of big companies will pay you out in cash if you get coverage elsewhere. So maybe that’s what he’s doing? Can’t imagine FAANG not having insurance

[Anonymous]

No, we have tricare but if not retirement will be delayed to pay for college and grad school and continue to save.

[Anonymous]

Anonymous wrote:Never had work offer health insurance or any benefits.
18-year old started college in new state as an independent student. He rents a room near college, works, will do his own taxes, registered to vote, got his DL there, bought a car, applied for medicaid and got it.
I don 't know too many parents who have done what I did, but it works for us for several reasons.
I won't touch the 529 if it interferes with him being independent and getting in-state tuition in a year. I will look into that.
I stayed in another state with younger child.

So, you can afford college but are scamming the system.

[Anonymous]

Anonymous wrote:How much is a plan for emergency medical care? That is what I had in the late 90s - 150 for the year. Most healthy 20 somethings don’t need the kind of coverage that their parents need.

They go all the time. My wife and kids had 100 charges on my plan between doctors visits and prescriptions.

My middle daughter does 40 prescriptions a year. A girl let’s say on asthma, with excema on birth control could rack up easily 40 prescriptions a year. Add in two dentist visits, eye exam, obgyn and physical they are at 44 charges without getting sick.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

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.

Do you view healthcare as a consumer product and not a basic entitlement (like education, clean water, paved streets)?

I view basic, lifesaving healthcare as something we should provide to all, but I don't view full health care as an entitlement. I understand it's more nuanced than that, but at the core, I don't want to pay more taxes to insure someone else's 25-year-old.

You are willing to pay taxes to educate other people's children, correct?

FYI, you pay taxes to insure senior citizens and people who qualify for Medicaid.

To be fair, children and the elderly are more deserving of assistance than 25-year-olds.

[Anonymous]

Anonymous wrote:

Anonymous wrote:We asked our kids to get their own insurance plans through their employers. Yes, it costs them but we felt it's important for them to become independent. We randomly give them more money than what they spend but we stopped paying for insurance once they got employed.

This trend of employed kids living at home, staying on parental insurance and phone plan etc is enabling them to have a faux lifestyle they can't afford. They need to learn to be self sufficient and live within their means. I see young women carry designer bags, wear overpriced shoes, travel to exotic places, eat at fancy restaurants and drive luxury cars but not having money to pay for healthcare or utilities. What's up with that?

I am OP but me asking my 25 and 23 year old to sign in employer policy just sucks money they could be saving in their savings account or putting in 401k. I am 63 but still work and with an 18 year old still in family plan. So for now their insurance costs me zero extra. I plan to work till youngest graduates college when I am 67.

Not kid related but my wife is a bit younger she turns 65 when youngest graduates college. So if I quit before 65 she also has insurance problems, kinda crazy I can’t even retire at 65 without my wife and youngest kid losing insurance.

You can still buy a plan if you're not working if you have enough saved.

[Anonymous]

Anonymous wrote:

Anonymous wrote:No, we will have Tricare for life at 42, thankfully!

To the PP who doesn't support paying for others' health insurance: Tricare: Your tax dollars at work.

I fully support health insurance for lower income but not when a parent is scamming the system and can pay and chooses not to.

Tricare is a health insurance for active duty and retirees. If you want if post retirement you can do your 20 like the rest of us. And, we pay a premium, deductible and copays so it’s not free. We also pay a lot out of pocket as it doesn’t cover some specialists and meds.

[Anonymous]

Anonymous wrote:

Anonymous wrote:How much is a plan for emergency medical care? That is what I had in the late 90s - 150 for the year. Most healthy 20 somethings don’t need the kind of coverage that their parents need.

They go all the time. My wife and kids had 100 charges on my plan between doctors visits and prescriptions.

My middle daughter does 40 prescriptions a year. A girl let’s say on asthma, with excema on birth control could rack up easily 40 prescriptions a year. Add in two dentist visits, eye exam, obgyn and physical they are at 44 charges without getting sick.

The assumption is everyone is healthy. Dental care is separate from health insurance. Same with eye exams.