journeyer

hi

if i move back to the us what will the cheapest health care coverage option be for me under the HCA? i do not plan on working.

i turn 62 next year and will draw my us social security. am wondering if it's just better to wait until then to move back, when medicare will kick in.

thank you

Pulaski

There is no easy answer to cheapest. Cost = insurance premiums + out of pocket expenses, so if you're healthy and make little use of medical services, such that your total medical costs are perhaps only $1,000-$2,000 per year then paying for more than a "bronze" (high deductible) policy would be a waste of money.

On the other hand, if you're a heavy user of medical services then the total cost to you would be lower if you paid higher premiums for a policy with lower out of pocket payments.

AZ_Alba

Although Social Security can be claimed at 62, I believe it is 65 before you are eligible for Medicare unless you have been on disability for at least two years.

Medicare.gov - Eligibility & Premium Calculator

robin1234

Remember Medicare starts at age 65, not 62 like Social Security...

Nutmegger

And also don't forget to do the maths -- if you can hold off on claiming your pension until you are 66, you will receive a larger monthly amount.

robin1234

Also, let's say OP is cautious and delays returning to live in the US till 65th birthday, so Medicare becomes available. It's important to note the significant monthly cost of Medicare. Assuming the OP worked in the US for at least ten years, so paid sufficient Medicare tax, he will get Medicare Part A free of charge. Part B is $120 per month, then additional premiums (for instance, Part D and Medicare Supplement OR Part C) could be an additional $300 to $500 per month, depending on coverage level chosen, location in the US, etc. Yes, one can rely on just Part A and Part B for just $120 per month, but then potentially very considerable copays, deductibles and other fees can be due...

Nutmegger

Absolutely -- I have chosen at this time to take the minimum coverage available in CT for "medigap" and drugs, and it still costs another $1,500 per year. The F "medigap" plan that I have isn't even offered by all insurance companies or in all states.

robin1234

I just looked at the Medigap policy finding tool on the official Medicare site. They seem to be estimating a total estimated cost per year (which I think means premiums plus reasonable anticipated copays and deductibles and other uncovered expenses) in the region of $6,000 to $8,000 per year. This is in line with the lifetime figure I've seen quoted, that out of pocket healthcare costs from age 65 on may be in the region of $160,000 per person for life. So whether you opt for a high end (most expensive) Medigap policy, or a high deductible F policy, you'll end up paying .... one way or the other.

lansbury

Not sure where you are getting your costs from. I pay $104.90 for part B. Then another $120 for part C and D plus dental coverage. The latter being through a supplemental plan + dental with Providence. That supplemental plan includes "free" gym membership.

robin1234

Sorry, I couldn't remember the exact price for Part B, so I estimated at $120 which I now see was a bit high. Then I looked at the Medicare search engine for Medigap policies for my zip code, they are priced anywhere from $50 a month to $500 a month, but I was also alluding to possible out of pocket expenses. Medicare, as I said, gives estimates for annual expenses (premiums plus out of pocket) of between $6,000 and $8,000 per annum. That is, approx $160,000 for a lifetime.

Nutmegger

My part B is the same as yours. Then I have chosen part F for $100.11 per month from Anthem and part D for $22.10 from Aetna. Of course, there are a zillion permutations to choose from.

SanDiegogirl

Part B is based on income. So the more you earn the more you pay.

Just saying in case the OP has a fair amount of income or investments he is living on in his retirement.

Nutmegger

But I believe that the modified adjusted gross income on the tax return for a married couple, filing jointly, has to be over $170,000 for that to kick in. At that level, folks probably aren't worrying too much about saving a few bucks on Medicare.

journeyer

ah, thank you, and realise that I should have included more info. Yes, healthy, little use of medical services. i'm afraid I have paid little to no attention to the HCA since living in the UK - didn't really anticipate returning to the us anytime soon, but it now looks that way.

journeyer

oh gosh i can't believe i'm american and didn't remember that, but then again it hasn't been until just recently that i've started reading up on my benefits.

am not disabled.