Author Topic: Health Insurance - Chronic Illness  (Read 1809 times)

LooneyLuna

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Health Insurance - Chronic Illness
« on: May 20, 2015, 05:58:26 PM »
Hi everyone,

Like many of you I'm sure, saving has always been second nature to me, I only really started to consider retiring early a few years ago and have started to cut expenses and save more aggressively to reach that goal. My income in only just over 30k so I am still looking at working another 15 years or so and retiring around 45 ish.  My one real worry is health insurance though, and I know there are plenty of posts out there about how health insurance cissues can be resolved with the marketplace but this is usally written by individuals who don't have major health issues.

My situation in particular is I have rheumatoid arthritis and currently take Enbrel. In the past I took Remicade and Humira. I was diagnosed 12 years ago and have spent all this time on some sort of biological drug which is very expensive. I suppose in the next 15 years there may be a cheaper alternative but for now I'm planning according to my current situation.

A quick internet search brought me to these two threads.

https://www.inspire.com/groups/talk-psoriasis/discussion/cant-get-insurance-because-im-on-enbrel/

https://boardgamegeek.com/thread/1120828/my-experience-obamacare

So my question to the mustachians out there is.... has anyone out there with a major chronic illness managed to get coverage as an early retiree without getting dropped/rates doubled etc? Any advice?

Thank you all! :)

Gin1984

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Re: Health Insurance - Chronic Illness
« Reply #1 on: May 20, 2015, 07:08:28 PM »
That is the benefit of ACA, before that, you would never have been able to get insurance on the private market.  Now you can.  What state are you in?  You should be able to approximate your insurance costs on the state or fed website.

forummm

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Re: Health Insurance - Chronic Illness
« Reply #2 on: May 20, 2015, 07:45:43 PM »
The ACA is great for early retirees--we aren't tied to a job to keep health coverage.

Who knows what health insurance rates or the health insurance market will look like in 15 years though. If I were you, I'd just keep saving and pay more attention in 10 years or so.

milesdividendmd

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Re: Health Insurance - Chronic Illness
« Reply #3 on: May 20, 2015, 11:22:12 PM »

The ACA is great for early retirees--we aren't tied to a job to keep health coverage.

Who knows what health insurance rates or the health insurance market will look like in 15 years though. If I were you, I'd just keep saving and pay more attention in 10 years or so.

Totally agree. ACA uncouples affordable health insurance from employment. Big win for the FI crowd.

In the old days early retirement was a bet with very fat tails. Early retirement+unexpected illness equalled financial ruin. Now that's no longer the case. Healthcare is just another cost to account for.