INSURANCE

[Morgan Mandel]

What good or bad things do you know about insurance? How are you handling it?

[Loretta Wheeler]

Well, I guess I'm the mumbler in the group...upon returning from Oz, of course insurance was a "big" issue. (It's similar to Canada's over there)...since we aren't sixty yet, and, ahem John's a year and a half younger than me, jobs and insurance were a big concern.

He's been fortunate enough to land an excellent job that pays very well, but we have to supply our insurance. It's averaging a little over $1,000 per mo. which is just alarming to me. I was accustomed to paying much less when I left the country...

So far, the insurance seems to pay ok....but of course, we're like everyone else, wondering what the heck you do if you're "downsized" .....

[Morgan Mandel]

I'm still on free insurance at work, working 4 days a week, with a $1000 deductible.

My husband cut down to 3 days a week and now has to pay through Cobra, about $440 per month. He says he's mainly working just to pay his insurance now.

Going part time is a killer. I can't imaging retiring yet, since insurance is so much.
Morgan Mandel

[Morgan Mandel]

Illinois is not as kind about insurance. Right now my husband is on Cobra since he changed to 3 days a week. I'm still covered at work. I work 4 days a week. I'd love to cut down also, but insurance would kill us.
Morgan Mandel

Suzanne Epstein said:

Health insurance is a huge issue in this country, and so many people fall between the cracks - not yet eligible for Medicare but perhaps not working full time, so no benefits. My husband (age 69) still works full time and we are both covered by his work, but we do have Medicare Part A as well. When he retires we will probably sign up with one of the senior HMO's. Here in California they provide very good coverage, with prescription benefits and no Part B required. My mother had it for years and it was very good. But I definitely recommend checking out all the various options to see the pros and cons of all.

[Marta Stephens]

My husband is 62; I'm following a few years behind him. We both still work full time and we're covered by my employer's health insurance. I'm with a state university--they contribute a considerable amount toward the plan; I'm paying for the family plan at just over $400 a month. It actually gives us great coverage with a relatively low deductable. When I retire, I'll have to continue to pay the premium. The nice thing is, my employer will continue to contribute to the plan too. I've been there for 29 years. Had thought about taking early retirement in a year or two, but I just got promoted with a nice raise. Can't walk away from it quite yet.

[Mary Cunningham]

My husband will be able to get medicare in 2 years, but he won't be able to quit work because he has to insure me. I won't be eligible for 4 more years. He wants to keep working anyway because he enjoys it, but I'm just hoping he'll be able to continue at the pace he's going.

If it weren't for health insurance, I think he'd love to work part time.

[Joan E. Phelps]

I spent 35 years in the insurance business...every aspect from regulatory, to lobbies/PACs, to general counsel, to advertising/PR/communication, to SIU/claims.

One positive: Consumers can get information or file complaints through state insurance departments.

One positive or negative (depending what your goals are): Like any other business (large AND small), the major goal is to increase net profits.

Joan