living in the ‘Land of Smiles’

Chiang Mai, Thailand

The hidden cost of retiring early: $51,000 in medical expenses – FALSE, at least for me!


Retiring early may sound really tempting. But leaving the workforce just a few years early can saddle you with tens of thousands of dollars in additional medical costs.

If a couple chooses to retire at the age of 62 instead of 65, they will face $51,000 in additional medical expenses, according to a report released Thursday by Fidelity Investments.

The major cause: Medicare coverage doesn’t kick in until age 65. So without coverage from a former employer, which is an increasingly rare benefit, the couple would have to pay for private insurance.


Personal Story:

In 2005, I retired VERY EARLY, age 57.

I knew it would of been foolish to go without medical insurance, but my COBRA quote of $1,000 per month to turn my company insurance to private, was just too damn much!

NOTE: MY TOTAL EXPENSES: including medical, rent, food, transportation. etc, etc,  is +/- $1,250 per month.

So I retired to Chiang Mai, Thailand, where I have FULL (physician, hospital, and meds) PRIVATE INSURANCE, with NO deductibles.


COST: Less than my U.S. company insurance was in 2000!

MONTHLY PREMIUM INCREASE: This year was a typical increase. 190 baht / 32.5 = $5.85USD.   Yes I know, outrageous!

CLAIM DENIED – In eight-plus years, ZERO!

PAPERWORK: The hospital submits the bill to the insurance company directly, so ZERO!

IMPORTANT NOTE: Because I signed up with my company before I turned 60, I’m covered for LIFE!

SOCIAL SECURITY / MEDICARE: Because I don’t need medicare, my SS check is a little over $100 larger each month.


There are many hospitals to chose from, but I go to Chiang Mai Ram Hospital. (See Photo)


FINAL NOTE: There are many places to retire overseas, where the health care is very good, and the insurance costs are minimal. So, look around.




June 13, 2014 - Posted by | Uncategorized | , , , , , , ,

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