Continue working until age 65

[SHRED]

---

That is where we are at now and that is where you will be if you are not rich and/or have guaranteed retirement health insurance.
Are we still going to be here during Obama's term(s)??

That is my reality.
My wife's pre-existing conditions and no retirement health insurance except the prohibitively expensive COBRA would require me to work until 65 or risk my life savings by not being covered. If we could get private insurance then how much do you think it would be? $1400 per month??

Obama and our politicians dancing around with private insurance corporations makes me nervous.

Why can't they tell the insurance corporations that they had their chance these past 30 years or so and they blew it.
Why can't we go to a Single-Payer coverage model?

What does the future hold?

I am 52 and could retire at 55 if I could get at least affordable coverage that would insure I do not lose my life's savings due to a hospital visit..
There are many in my shoes I suspect.
I would think having us retire would cause great turn-over in the job market and be of great benefit to those younger coming up by providing openings.

I wonder what Obama considers "affordable"?
I think we pay enough taxes and spend enough on military and other countries...why shouldn't the health of our citizens be covered fully?


---

[mmonk]

1. Because the insurance company lobby and prevailing ideology

rule Washington.

[graywarrior]

2. 65? More like til death.

[KG]

3. 65? i plan on having to work till the day i die.

[SHRED]

5. and you are resigned to that mindset?

[stray cat]

9. Who will pay for my retirement if I don't have money saved?

it sounds like a practical matter. Even in the past most people worked until their health problems made them dependent on others.

[KG]

10. financial realities of my life, dude.

i'm 50 and because of the path my life has taken i don't have a penny saved or 401k. only thing that would be there for me is SS and i damn sure ain't counting on that.

only meeting and marrying a rich widow will rescue me, and i ain't counting on that either.

[exboyfil]

4. In one sense if you have a preexisting condition then it is no

longer health insurance (or it is health insurance in a higher risk pool). COBRA reflects the current market rate for insurance (granted probably 40% of it is built into industry profits, inefficiencies, etc). Would 60% of current COBRA be affordable?

I am for Single Payer Universal Health Care, but even the Germans, with this plan, pay 16% of their income for insurance. Right now our medical expenses would dictate about 24% of our income (hopefully we can ratchet it down to 16% under UHC).

How retirees (especially early ones like you) are going to be expected to pay for UHC will be an interesting question. Do you want a risk pool for all individuals that you will pay for, do you want to have extreme subsidization like what happens with Medicare currently, or do you want needs tested health insurance based on income or assets? In the end someone has to pay for the health care. You can say well just tax the rich, but I think vast chunks are already spoken for in their income (the raise in marginal rates and the adoption of S.S. withholdings on all income is going to drive their effective marginal rate up 15%). How much more before they practice aggressive tax avoidance schemes that will reach the point of diminishing returns.

The problem is we are setting up a system in midstream. In addition the pay as you go system (Medicare) already set up has always been woefully underfunded for the benefits that are to be paid out.

[SHRED]

6. Unlimited public funds for banks and wars

And still we can't get universal coverage.

Something stinks.

[bdamomma]

8. we are not on the high list of priorities.

hopefully that will change some day.

[stray cat]

7. Most of our goals are to be healthy enough to die while employed

[Avalux]

11. I've resigned myself to the fact I'll work until I die.

There won't be an entitlements when I reach 65 and at this point in my life, unemployed and 401k shrunken - yeah, death.