Question for those of you between say 50 and 65 -

[hedgehog]

if you could go on to Medicare at age 55, would you retire early?

My husband's pension maxes out when he turns 63. He could retire then, but I'm not sure where we would get health insurance to cover the two year gap.

[Lifelong Protester]

1. Yes, I would

We baby-boomers, or at least this one, would like to get out of the way for the younger generations to have our jobs. But until the health insurance issue is sorted, we're stuck working longer.
I don't mind working, I love my job, but I also have this nagging feeling that if my demographic doesn't 'move on' and quit holding on to these jobs, the younger folks will not have a chance.

If the Medicare age was 55, you'd see a lot of retirements, and folks moving on to other work, not needing the insurance of their present job.

[SugarShack]

30. Me too, and they should open medicare to all NOW cuz my health is good and premiums would help shore

up the medicare system. it's expensive cuz only old ppl in it. they should allow open enrollment now, and I'd go into it...now. While still working.

[stlsaxman]

2. what does MediCare have to do with retirement? but, yes-

I'd jump on it quicker than stink on rice!!!!

[hedgehog]

6. I know people who have investments or retirement plans

that would pay them sufficient income to retire early if they were confident of being able to pay medical costs. For them , extending Medicare eligibility downward would mean early retirement, opening up a job for a younger person.

[seabeyond]

14. this is what has never made sense to me. talking about increasing age of retirement when

there is a decrease in jobs. i like how you say it, open the position up for a younger person. when more and more jobs are shipped overseas, what reasonable thinking person would suggest people need to work later into life.

it is so simple as 1+1=2, that i do not get why it would even be suggested.

[Locrian]

19. ^^^ yep that would be me

I would take it early if there was some way I could be sure I would be able to have HC.

[wordpix]

3. absolutely not

But that is just my situation. Health insurance/Medicare is only part of the retirement picture. You also need income - enough to live on for another 35 or so years, enough to travel and do what you want. That's not where I'm at but maybe you're better padded than I am.

Also, I now handle my mother's affairs. She has advanced Alzheimer's and Medicare does not pay a dime toward her care except for the Medicare supplemental drugs (about 1/2 coverage, but she has to pay premiums so the "benefit" is zero) and Medicare also pays 50-90% for doctors' visits, x rays and other procedures she's needed. She cannot be left alone for one second but Medicare does not cover the cost of her home health aides who are with her 24/7, which is the biggest cost. She has gone from having a healthy bank account with valuable stocks and bonds to zero in four years.

So you need to look at all angles, including the possibility of an illness like this that Medicare does not cover.

One thing about your husband's job: If it's negatively impacting his health, it might be best to get out. As people age, health is the most important thing you have---or don't have.

[sammytko]

27. If she has no money now, check into Medicaid.

[handmade34]

4. YES

[lunatica]

5. Universal medicare would change this country in a fundamental way

People would not be tied to jobs they hate. Lots of Boomers would gladly retire or work less. After a lifetime of work most people are glad to give it up. Why wouldn't they be? If I still had a retirement I could live on I would at least semi-retire. Unfortunately I had to use it up because I had to stop working to take care of my mother. I'll be able to sign up for Medicare in a year. And a year after that I'll be able to get Divorced Spouse Social Security and still continue to work.

[hedgehog]

15. Looking ahead, if Obama gets re-elected and if he gets a supportive Congress,

we could have single payer by the time my husband hits 63!

[Roselma]

7. yes

My husband is age 64, turning 65 in November. He lost his job in March 2010, and just recently found work. If we had Medicare for the BOTH of us (I am age 59), he would have just "retired". Now that he's back to work and we have insurance, we're looking back at how much we paid out-of-pocket for that insurance policy we had $1280/month just for the premiums, plus we had annual deductibles and copays and co-insurance. Medicare could have saved us a lot of money if we both could get on it. We're not broke, but Medicare would have removed our urgency to return to work. And...my hubby is now taking a job that some younger person could really use to support a family with children to raise.

[tsuki]

8. Yes, if I could have bought in (full freight) medicare at 55, I

would have retired. I had to go uninsured for almost 18 months before medicare kicked in. Scary time.

[Sherman A1]

9. I am not sure, however

I would have seriously looked at the options. Having more options of course is always better.

[cbayer]

10. I already retired and I am without insurance.

I hope to be ok until I can buy into a plan in 2014, but I would love to have Medicare.

[Warpy]

17. I haven't had access to health insurance since 1987

Because of that, I lived in penury, saving every dime I could for the disasters I knew would happen. It can be done but it's highly unpleasant and preventive care goes by the wayside.

I managed to stay debt free and I added it all up a couple of years ago and being without health insurance and paying out of pocket has saved me in the low six figures in decreased wages and skyrocketing premiums.

Run the numbers on what insurance would cost you and what your out of pocket expenses are likely to be. You might be as shocked as I was.

[cbayer]

20. I also think I have saved money, but I have been lucky to have been very healthy.

But I haven't had any screening exams or routine exams for a long time, so perhaps I am not as healthy as I think.

It takes a lot for me to seek out care. I developed shingles and just dealt with it until I developed some complications that couldn't be ignored. And I had to see a dentist a couple of times, but that probably wouldn't be covered anyway. I paid out of pocket for the immunizations and medications I needed for a trip to Africa.

My lifestyle is one in which injuries are not uncommon, but so far so good.

It's a scary way to live, to be honest.

[CBHagman]

11. No, I would not retire early.

Even if I were looking at a good pension, which I never will be, I would expect to have to keep working for a great many years.

[madrchsod]

12. good luck affording insurance at 63

he would have to get a part time job just to pay his premium. of course i`m assuming he`s in good health with no preexisting conditions.

[hedgehog]

13. 63 years old without any pre-existing conditions -

i don't think there is such a critter!

[DiverDave]

16. I cant

I have too many obligations.
My kids are 14 and 11.
At 55, I will have to wait til 64-65
But in all reality, since our 401 is worthless, I'll drop in
the traces.
I just hope I dont hurt anyone.
But, if I ever get so bad that I might
I'll turn in the keys.

[Liberal_in_LA]

18. no, wouldn't retire early if got medicare at 55. Working for other reasons that health care

[SOS]

21. No

But I would certainly buy into Medicare.

We can thank Joe Lieberman for not having Medicare at 55.

They had 59 votes in the Senate to lower the age to 55.

It was Lieberman's vote that killed it.

[Lochloosa]

22. I wouldn't retire, I would start my own business

[MFM008]

23. retire

Retire as soon as possible. My Dad retired in 1993 at 63 and passed away after 6 years, hardly long enough to enjoy it.

[raccoon]

24. Yes. nt

[mrmpa]

25. I couldn't retire fully, but I could work part time............eom

[greatauntoftriplets]

26. Yes. I'd retire now at age 63.

I was seriously ill in the summer and spent three weeks in the hospital. The bills would be a lot more palatable if I were on Medicare.

[sammytko]

28. I retired at 44 - have Tricare for Life and VA

[haele]

29. No, because I'll have Tri-Care at 60, and can also cover my family then.

I hate to say it's a better deal than Medicare, but that's only because the DoD has a better negotiation policy between providers and drug manufacturers than Medicare does. It also includes a wider range of Dental and Vision care, which Medicare doesn't. Honestly, if Medicare was revamped to give patients the same care as Tri-Care does, the US would be in much better shape.

Tri-Care - just one more proof that the Military is the largest Socialist organization in the US.

Haele

[DearAbby]

31. I could not retire...until they lowered the age for SS

I would at least have Healthcare insurance.