Hi all;
I’ve been reading many on-line forums about retirement and most are U.S. based. Naturally health insurance and health care costs are a significant factor for many Americans who are retiring or are already retired, especially those on a tighter budget.
As a Canadian, the only health care expenses I have are dental and drug costs (for prescriptions, we pay a $100 deductable and then drugs are about 6 bucks a prescription after that.) I don’t have to pay for hospital stays, doctor visits, medical testing, etc. For example: my father, who is 98, was recently admitted to hospital after a fall in his seniors residence. He was in the hospital for a month, during which time he had several cat scans, xrays, physio and OT. He paid nothing-- except for the ambulance. An American aquaintance told me that if this had happened to her father, he would have born significant costs.
My question is: how do my neighbours to the south manage retirement with health care costs? What portion of your monthly expenses are set aside for premiums?
Thanks in advance for sharing.