I was reading the other posts about saving for retirement in a one income family and it got me wondering. My husband and I have been doing home daycare for 19 years and before that we ran a small diner for 13 years. We've never had a LOT of money but we have a modest home, raised 4 kids, have quite a lot of credit card debt. We qualified for insurance coverage through the state for most of our married lives because of low income and 4 kids. Now we have no kids home and we no longer qualify. Apparently we make too much money. But just enough to pay our bills each month with nothing left over for savings. We are the working class poor.

My worries are that we now have NO insurance and NO retirement savings. I'm on meds for depression, diabetes, high blood pressure, and cholesterol. Hubby smokes but has no health problems. What the heck is going to become of us??? I've stopped going to the doctor because of the expense. Most of my meds I get at WalMart with their $4.00 generic plan and the ones I can't get there I beg from the doctor's office. I can forsee us working right up till the day we die because social security certainly isn't enough to live on.

Are there other people here that are in the same predicament? I guess I'm just curious and I don't really expect any answers. Just want to know about others situations. If I had my life to live over, I'd certainly work for a big company with benefits.

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Well we have always had ins but paid out the nose for it & then it never seems to cover jack we also dont have a ton of money to pay for all the health care but we have had too we with 3 kids never ever qualified for state health care so we are also working poor I guess. We dont have much to pay for this stuff not much saved but I am hopeful once youngest now 3 goes to school I will go back to a ft job & be able to save more.

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mom of 3 greats girls

First, Find out who is the manufacturer of your other drugs...most pharmaceutical companines offer discounted and free meds to people in need ask your local pharmacist but I must say you might get a better answer from a non walmart pharmacist ...walmart's pharmacists always seem to busy to help anyone IMO. If you don't get what you are looking for look the company up online. What they usually do if you qualify is issue you a card kind of like the free sample cards the doctor gives out. It lets the pharmacy know what the discount is.

Secondly just because your husband doesn't yet have health issues certainly if he continues to smoke he will. It's not if but when! And you think your prescriptions are expensive.....cancer treatments are through the roof. Just think if hubby could quit smoking it would free up some extra $ to either put in savings or pay off those credit card bills. I don't mean this to sound like a lecture I am sure you know...just wanted to put it on the table... You know it always seems easier to look at someone else's problems and think you can see a solution.. Don't hate me just my opinion

I wish you both the best and hopefully you will qualify for those cheaper prescriptions.

We also have no retirement. We are 40 and 43 DH is an otr truck driver. I have always been a sahm that homeschooled. We had a construction business, but due to the economy in our area, dh had to start driving. We have been foolish with our money at times and made several poor financial decisions, which we are paying for. Our youngest is off at college this year, and now we have a 10 month old that lives with us, but we are not financially responsible for her.

We have NO idea where we are headed financially and it sucks. We have health insurance for now at least, but as I said above, no retirement. I have been reading some of the posts you mentioned, and it just makes me sad that we weren't more responsible. There are many sides to it of course, just like any situation, and I don't think we would have been FAR better off, but better off none the less.

Please try to start saving even a tiny bit now.

Maybe you can manage to put even a small amount into IRA CD's every year.
It will give you some money that you can save and start using anytime after you are 59 and a half.

I know a couple people that have taken part time jobs or the insurance benefits.

Good Luck, Shirley

I've thought of getting a "real" job just for the benefits but don't think that with all my health problems I'd be able to be covered. I might be wrong. I did look into private insurance and the premiums would have been almost $300. per month for my husband and myself and I wouldn't have had coverage for the first 18 months because of my problems. That's a lot of money to be paying in without getting anything out of it.

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I don't know about your state, but I know in mine, you can't be denied health insurance based on past medical history *if* the plan is through an employer. It is worth checking out. I would be very suprised if New York doesn't have the same law. (Or maybe this is a federal law. I'm not sure.)

In Indiana I have heard they have to cover you "IF" you get the coverage when you start the job They have to accept the whole group of employees on a group insurance plan.

If decide you want to get the insurance later I think you may have to qualify for it.

I think there are a lot of people in this country in your situation.

My Dad is in the hospital and he is on what they call Charity Care, 100% covered at that hospital and at some Dr's offices. I would call your local hospital/clinic and see if you are even partially covered, or could get meds at a discount.

There are programs out there, but not too many people know about them. You have to call and dig around.

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"A true friend is someone who thinks that you are a good egg even though he knows that you are slightly cracked." ~ Bernard Meltzer

I know what you mean.

I pay $630 a month for Independent Health coverage for just me Since my pension is only $680 a month, things are tough.

Fortunately, DH is covered under Medicare because he is disabled.

kain about the job... the other posters are correct, you cannot be denied coverage if you work for a company with a group plan for health insurance for their employees...

the same is true, for life insurance. people who have conditions who would be denied life insurance coverage, cannot be excluded from 'group' policies either.

people do not always realize this! if you have employer plans you can use them and cannot be excluded because of any health reasons, for health or life insurance or disability coverage, if your company offers any of those things -

Even if you aren't excluded you can be subject to waiting periods for pre-existing conditions. Unless you can provide proof of continous coverage, you may have to wait anywhere from one month to 18 months before certain pre-existing conditions are covered.

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Mental that one, I'm telling you. ---Ron Weasley, "Harry Potter and the Chamber of Secrets"

I know it's not proper etiquette to ask a woman her age but I think it might be helpful here. Or in other words, how long until you will be able to receive SSI and Medicare assistance?

I always thought of daycare as a very demanding and physically exhausting job. It seems like if you could do that, that you have the health to get a job with benefits....


cj/

No problem asking me my age... I'm 55. And daycare is demanding but after providing care for so long I feel that it's kind of my life's work. I really, really enjoy what I do. I was always able to be here for my kids while they needed me at home (even when they didn't appreciate me being here for them) and I get a lot of satisfaction out of mothering the kids I watch. I'm now on my second generation of kids. Children of kids that I watched years ago. As for my husband - with him as my partner we're able to take care of more kids so that we've been able to make a living. Just no extras.

He also has taken care of his dad for the last 4 years while he was ill. My FIL died last month. Now it's MIL's turn. Her health is on the downhill slide. Before that he helped care for my mother who suffered with emphysema for 10 years and needed lots of help getting to and from doctor's appointments. It's a not-traditional employment arrangement but it's worked for us all these past 31 years. Up until now when we're both thinking of the future.

At 55 I can't see either of us getting a decent job paying us what we make now. The way I see it - there are no easy answers. We made choices without looking ahead when we should have. And what do they say? Hindsight is 20/20? So so true.

I appreciate all the posts and am kind of glad to see I'm not the only one in this predicament. I guess misery does love company. We'll manage somehow. I've got 4 kids and I like to think that they've picked up some of our nurturing ways. I don't WANT to rely on them but I'm sure at least 3 of them will be there for us. LOL The 4th one who's our youngest I'm not so sure about.......

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In TN, there USED to be an insurance (TennCare) where even if your health was awful, and your employer didn't have benefits, they covered you. It wasn't very good, and the docs were not the "highest" quality...in fact, most of them were clinics, etc. But at least it was seeing a doctor and getting meds.

They stopped the whole plan due to corruption within and subscribers taking advantage. Even arrested quite a few of them for fraud. When it was cancelled, they had a big thing on the local news that showed a group of obviously disabled folks (wheelchairs, crutches, etc) that were picketting (sp) the local town hall because that meant now they had no way to get health care. Recently they introduced this new thing "CoverTN" I think it's called. Luckily hubby gets insurance from work now. He has had pacemakers and also has HBP and blood clots. He is on several expensive meds and I don't know what we would do if we couldn't get insurance for him.

Me being on disability, I have Medicare and a PDP, but I am so worried about him. He really needs to stop working. He does outside manual labor (works in a lumber yard lugging sheetrock and lumber all day in the sun). He refuses. He is from the old school where u worked til u died. There is no way to convince him that he is on that road already.

With my hubby's job and their coverage (blue cross blue shield) it's a year and six month waiting until they cannot go back on the pre existing condition thing. That period was over for him on June 5th. I counted the days so that I could make his appt with his heart doc..lol!

I hate to say this, but if you are an insulin dependant diabetic, you will probably not be able to get private health insurance on your own without a 'certificate of continuing coverage'. A friend of mine had a baby last year and developend gestational diabeties and was on insulin. Her DH lost his job right before the baby was born and they were looking for a less expensive alternative to COBRA. They could not find a plan that would cover her because she was on insulin last year, eventhough she had her tubes tied and won't be having any more children, they still will not cover her.
So now they are paying $1000/month for COBRA, mostly because they don't want to lose their continuing coverage certificate.

I know several of my parents friends, 50's and 60's, who work only for the insurance benefits. So I agree with the above poster that is a good option. You say you can't make as much as you are making now. But one hospital stay could make the lower income worth it. I was in the hospital for a week and it was $23,000.

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Raising my baby RIGHT!!!!!!

All the cool babies are wearing cloth!

One illness or hospita stay can cause big problems. The one thing I always had was health insurance. We did not always have life insurance or pension (I have one but my dh did not). Two years ago the insurance company paid out $100,000 on my dh for viral encephalitis. The following year he had his gallbadder removed and prostate cancer. I have carried the health insurance for the last 10 years because it was cheaper ($300 a month). My dh is on disability and will get medicare part A in October.

I agree with the previous posters and think it should be a priority to find a way to get medical insurance. It's not too bad to go without when you are young, but with you and hubby's medical issues and age, it feels like too high of a risk to go without. Even with good savings, it is hard to pay for a medical emergency out-of-pocket.

I do get what you're saying about the daycare income being higher than what you could get at a regular job, but you do have to look at the total compensation, including benefits, when comparing. Is there a way to squeeze a job with benefits in on top of the daycare? Maybe cut your daycare business back in some way or pick up a night or weekend job?

cj/

I was always under the impression that in order to qualify for benefits in a company you had to work full time for that company. Is that wrong? Can you work part-time and still get health insurance? If that's the case then my husband or myself could definitely take something part time on the weekends or evenings. Of course, then we'd need that health insurance much sooner than otherwise because we'd be freakin' exhausted. As it is now our day starts at 6:30am and the last kid leaves by 5:30pm. And that's pretty much going at full tilt for the whole 11 hours. I don't know how much more I can do. I'm in bed at 9 every night just gearing up for the next day. I know... stop whining some of you are saying under your breath. LOL

All your posts have given me lots to think about. I just think this country is in a mess and our health insurance issueis just one of the many things wrong.

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You can always buy a medical insurance plan on your own. Anyone can ...but especially since you are self-employed. They are lots of plans out there. (of course, most have a high deductible) Do a google search on where to buy medical insurance. This site is a good place to start.
https://www.ehealthinsurance.com/ehi...o18811&sid=BUY
Also your local hospital billing service might have a few ideas on a good insurance that others in your area have.

Yes, I think with most places you need to be full-time, which can be 30+ hours depending on the particulars. Not likely to work out with the schedule you're keeping already. I guess all I've got to offer is a hug - how about that?

cj/

I have no retirement and no health insurance.BF has insurance but never uses it nor has retirement. I buy my 2 meds that I use online.(Birthcontrol and Spiro)I would like to quit birthcontrol since its rarely even needed.But I like being regular and helps control my hormone irregularities.I try to use vitamins ,herbs ,and supplements to treat a lot of my conditions.I stock up when there are really hot deals.I have found that vitamins ,herbs ,and supplements really help a lot !
I don't think I would use health insurance even if I had it.I just don't trust doctors,nor most of the meds out there.
I think I'd rather not know if I had 6 months to live.Or was dying of cancer.I'll just take what comes my way and deal with it.

Thanks for the hug. I really appreciate all the input. I guess I was just interested in seeing how many other people have gotten themselves into the predicament we're in.

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I agree with the others, medical insurance should be TOP priority right now.

Can you raise the tuiton rates of each kid? Even by $10-$20 a month? All this extra income can pay your premium on insurance. While not the most glamourous job, Walmart gives PT employees benefits.


While I sympathize with those of you who are in the situation discussed above, hopefully the "less experienced" of posters will learn a lesson from this.

SAVE SAVE SAVE. I know today seems sunny, but tomorrow may bring storms. If you have the option to invest in a 401(k) DO IT. Put AS much as you possibly can into it. Most employers match a certain percentage of your investment ( You put in $50, they put in $50)

With the current state our federal programs are in, NO one under the age of 45 should count on social security.

Sit down, plan out your financial future and sleep well at night. We personally put away $500 a month, that matched with employer contributions, means we will have about 2.5 Mil at retirement age. A HUGE amount of money for a small sacrifice now.

Stop eBaying and eating at The Olive Garden! Save for your future!

I agree with this! Even if you "only" put away $5 a week....well, at the end of the year, that's $260. It's not much,but, it is definitely something. Don't think you have an extra $5 a week??? Hmmmm, stop the paper delivery, no take out food, no StarBucks, dry your clothes on a line or rack....there are SO many ways to "find" money. We have always put away at least "something", and we are So glad we did. Time flies, as you know, and before you know it, you're retiring.

Good Luck.

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Doing the right thing isn't always the same as doing the easy thing.

I noticed some of you not getting coverage due to preexisting conditions. Check out All Accepted Insurance Agency, LLC - CoverageForEveryone.com - Life Insurance, Health Insurance They just covered a friend of mine and I think preexisting was not covered for a 1 yr period, but the rates were great compared to paying into the state pool. She was paying like $3000 to the state pool and now her rates are under $500.