Pucky Freak
Well-known member
Assuming that I do not change my career that I began in 2009, I can retire in 14 years at age 55 and collect a pension. Assuming the 6% cost increase per year in health insurance continues (non-compounding), a 22k annual health insurance "gold" plan in 2024 would rise to 42K by 2039, and 55k after another ten years, at which point Medicare would kick in.
Rather than pay well over 50% of my annual pension income towards health insurance premiums, opt for the lump sum payment in lieu of a pension and roll into a traditional IRA. Then, live off 457(b) and Roth distributions for a decade to have a MAGI of $0 and qualify for zero cost heath insurance.
With my current chronic health conditions I would pay the least total amount on healthcare under a gold plan vs. a silver or bronze plan with lower premiums. Health care sharing plans are an option too, with chronic health conditions being the most likely disqualifier.
Rather than pay well over 50% of my annual pension income towards health insurance premiums, opt for the lump sum payment in lieu of a pension and roll into a traditional IRA. Then, live off 457(b) and Roth distributions for a decade to have a MAGI of $0 and qualify for zero cost heath insurance.
With my current chronic health conditions I would pay the least total amount on healthcare under a gold plan vs. a silver or bronze plan with lower premiums. Health care sharing plans are an option too, with chronic health conditions being the most likely disqualifier.
