They offered to put $500 a month into an IRS approved health savings account until we reach medicare age. We have a number of mutual funds to chose to put the money in. I still have a few more years of this left. It is not taxed when they put it in and it is not taxed when you use it for a legitimate expense.
I also had been paying approximately $150 a month into a union fund for over ten years that was suppose to help pay for our health insurance after I retired. This fund now provides approximately $180 a month that I can use for health-care related expenses. However if we do not use the funds every month... they just go away. We have been using this money to pay for a dental and a vision plan both which have little value to us.
In the future we will use the union plan to pay for our “catastrophic” health insurance plan and use the health savings plan money for routine medical expenses.
Thanks for sharing.
We are in our late 70’s and we went to Kaiser for our health care. My company’s retirement program and SS pays for our monthly costs. Then we have a small co pay for other services. So our medical needs big or small are covered.
Dental is not covered. Years ago when both of us were employed we had yearly health savings programs that really helped. We need to see if there are similar programs.
One adult son has a flat $3,000 per year dental plan. On my advice he negotiated a flat $250/month payment plan with his dentist/our dentists for anything and everything dental.
My wife has a chipped tooth and she will be seeing an endo today. She has started negotiations by saying no dental plans, and we will pay cash for any deal. So far that seems to be working.