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

[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.

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.

+1000

Our kids get to stay on our insurance if it's the better choice for them. Why waste $$$?
We also keep them on our cell phone plans, as it's much cheaper that way. If you want charge them for the cost, but why make them pay $40-50 more per month?

Because OP wants to retire. This isn’t an issue if OP is fine working.

Why is it everyone’s working age kid seems to have shitty insurance, BTW?

My kids work professional jobs with excellent insurance for little to no cost.

Because their kids aren’t working corporate jobs. They are either in the service economy, or they are working for political campaigns, non-profits, internships, or other kinds of jobs that at interesting and fulfilling, and may pay off in the long run, but need parental subsidies right now. It’s the privilege of the upper middle class to be able to have these jobs.

It’s just a personal choice people make if they’re willing to continue working just to provide their kids with insurance. That’s a big sacrifice, but if you wanna do it, go for it. I will be retired before my youngest starts college and we’ll figure out insurance for them as long as they are in school, but once they’re done, we’ll let them adult and figure it out for themselves.

[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.

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.

+1000

Our kids get to stay on our insurance if it's the better choice for them. Why waste $$$?
We also keep them on our cell phone plans, as it's much cheaper that way. If you want charge them for the cost, but why make them pay $40-50 more per month?

Because OP wants to retire. This isn’t an issue if OP is fine working.

Why is it everyone’s working age kid seems to have shitty insurance, BTW?

My kids work professional jobs with excellent insurance for little to no cost.

Because their kids aren’t working corporate jobs. They are either in the service economy, or they are working for political campaigns, non-profits, internships, or other kinds of jobs that at interesting and fulfilling, and may pay off in the long run, but need parental subsidies right now. It’s the privilege of the upper middle class to be able to have these jobs.

You do realize most young service workers aren’t from UMC families, right?

[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?

Trueeeee

[Anonymous]

Good watch for parents who overindulge their lazy adult children.

[Anonymous]

No.

[Anonymous]

Anonymous wrote:

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.

dp.

TBF the system is scamming Americans. We pay more for the same service than any other country in the world.

If the student is declared independent, files their own taxes, then it's not scamming the system. It doesn't matter if the parent can pay for the health insurance. The student is independent, therefore, the system sees them as independent and can qualify for cheaper health insurance.

Believe me, I would much prefer a simpler system than trying to "play the system". But, until the government fixes our broken system, people should find legal ways to get cheaper premiums.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

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.

dp.

TBF the system is scamming Americans. We pay more for the same service than any other country in the world.

If the student is declared independent, files their own taxes, then it's not scamming the system. It doesn't matter if the parent can pay for the health insurance. The student is independent, therefore, the system sees them as independent and can qualify for cheaper health insurance.

Believe me, I would much prefer a simpler system than trying to "play the system". But, until the government fixes our broken system, people should find legal ways to get cheaper premiums.

That is scamming the system as often those parents are paying for college and paying for health care means you are not independent. There rae no legal ways to get cheaper premiums.

[Anonymous]

It would be cheaper to just send your low-income 20-something child to the marketplace and then you reimburse them the premiums/deductibles.

[Anonymous]

It does not make a lot of sense: if enrolled in college they have access to a plan, and if young college grads they either have access through work or can enroll in a marketplace plan, likely with subsidies if not making a lot of money.

[Anonymous]

This is a consequence of waiting until you are old to have children

[Anonymous]

Anonymous wrote:I think it is a stupidly American thing to have to plan your career and retirement around being able to have health insurance.

Agreed. Its a shame a nation like ours can't provide basics to its citizens.

[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?

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

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.

dp.

TBF the system is scamming Americans. We pay more for the same service than any other country in the world.

If the student is declared independent, files their own taxes, then it's not scamming the system. It doesn't matter if the parent can pay for the health insurance. The student is independent, therefore, the system sees them as independent and can qualify for cheaper health insurance.

Believe me, I would much prefer a simpler system than trying to "play the system". But, until the government fixes our broken system, people should find legal ways to get cheaper premiums.

That is scamming the system as often those parents are paying for college and paying for health care means you are not independent. There rae no legal ways to get cheaper premiums.

Declaring "independence" is a legal way to get cheaper insurance. The student has a job, even if it's not FT or pays a ton.

[Anonymous]

Anonymous wrote:I see my kids and grandkids as my legacy. A way to pass on my genes and continue the family line. It is basic biology. For me it is important to see my kids succeed not only for themselves but also so that they can give the same benefits to my grandkids and other descendents. I have invested time, effort, money, sweat, blood and tears to raise my kids. They know that they are very precious to me. I will give them all the benefits that I can, but, I will also make sure that my kids are worthy kids. Whatever time, love, affection, care, direction, guidance, support, communication, community, network - I need to give to them, I have given to them and will continue to give.

All of this is because you need to raise good and intelligent kids. Because once you have good-for-nothing, lazy, greedy, morally sick children - you do not get a do over.

I think the issue is if you give a lot, some kids will get lazy as a result of being given a lot. I struggle with this as dh and I were given nothing at all after 18. It motivated us and made us grow up very fast. I sometimes worry that helping our kids so much more (they are in college now and it's something I ponder a lot as we provide a lot of help) is going to make them less motivated to achieve. I am really surprised young working adults would be on their parents' plans.

[Anonymous]

Anonymous wrote:It would be cheaper to just send your low-income 20-something child to the marketplace and then you reimburse them the premiums/deductibles.

agreed, but some people think that's "scamming" the system.

IMO, that's just being smart.