MY RETIREE HEALTH CARE DILEMMA
I was forced to retire in 2011 and took Cobra for 18 months. My Cobra is running out by the end of this month.
I am only 64 years old and have one year before I can qualify for Medicare. I never thought I would be looking forward to being on Medicare, but I am!
I have pre-existing medical problems (nothing I am dying from) so I was denied by an insurance company which means I cannot get private individual medical insurance on my own.
The only plan available to me is a HIPAA Portability Plan which, by law, has to accept those with pre-existing problems, but, in return, their premiums are EXTREMELY expensive. BCBS has the most reasonable premium which is $1,047 a month for just ME!
In my search, I found other companies charged as high as $5,000 a month for an individual policy. The BCBS policy is terrible and basically only covers going to a PCP doctor and medications. All else falls under a $10,000 deductible, plus a copay of $4,000 if I should need to be hospitalized, have surgery, etc.
Although taking this insurance will deplete my bank account, I feel I have no choice as we all know anything can happen at any time and then we are left with major debt to have to pay while in retirement.
I also had surgery earlier this year while on Cobra. My portion to pay was around $5,000, so that will be added to my debt. While it is horrifying to have to pay these high premiums and the high deductible, it would be more horrifying to have to pay an endless debt because of having no insurance! I spent a year trying to find answers to no avail.
There just isn't a good alternative. There just has to be a better answer for us!