More and more Americans aged 50+ have a new objective in mind when it comes to healthcare — just make it over the hump baby!
“Over the hump” means making it to Medicare — relatively unscathed.
Health plan premiums increase as you get older, and the oldest group consists of those folks aged 60 to 64, just prior to reaching Medicare age (65). Their health plan premiums are outrageous!
The next most outrageous group is age 55 to 59, and so on. The real slap in the face tends to hit somewhere around age 55 for most people. At that point, the cost can become too much to handle, forcing many people to start thinking in different terms.
Oh, like a health savings account plan?
Here is an article from the Dallas Morning News that does homage to the problem.
Scary costs for those approaching Medicare
Once you hit Medicare age, health plan premiums revert to a level not seen since your 30’s, relatively speaking.
For this reason, we have advocated the “make it over the hump” approach for years. Today, it makes more sense than ever. Forget about the frills. Just make it over the hump.
Get a health savings account plan with a high deductible health insurance policy and stash away as much cash as possible to make those golden years truly golden.