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Reply to "Can we afford to retire now?"
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[quote=Anonymous][quote=Anonymous]My insurance through the affordable health care act (ACA) at age 63 is $1300 per month with a $7000 deductible. That is for 1 person. I am on a silver plan, the cheapest. I get no rebate as you get no discount if your pay is gross over $49,000 per year in my state.[/quote] And in my state, for a 56 yo, the silver plan (EPO) is $1600/month (it was only 1300 last year). and yes the dedcubitle is $7K/$14K (ind/family). At 63, it would be $2300/month for the same plan. And yes this is just medical, no dental or vision. So at 63, we would be paying $4.6K for two of us and let's assume the deductible as well so another $1100/month (not difficult to hit a deducible like that when you are 55+, one medical issue, like arthritis and needing a few X-rays/cat scans or MRI and you are there. So $5.7K per month for medical insurance and expenses monthly. It's not cheap and you need to price it out and be aware of the ever increasing costs and don't expect it to be "fixed" anytime soon---we need single payer but that's not likely [/quote]
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