ramblingshots
Long Bay Club
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OK, The more forums I read , the more questions pop into my head. As you can see from my other posts, My wife and I are looking to slide towards/into FT sometime in the next year.
I have also been reading about the advantages of moving ones residency to SD, TX, or FL.
My wife has had several back surgeries over the past year and the Docs have pretty much given up on her, also I am a transplant recipient, with a blown back and no cartilage in one ankle. And we still attempt to exercise!
Any way, are there any real advantages to FL residency for someone like us? I mean if you take into affect the fact that I am 62, and she is 59, and we have decent Med.Ins., that will change over to Medicare at 65, in the middle of our peak FT years (we hope).
OR am I a paranoid geek, thinking to far ahead of the wave?
I Started with NOTHING, And I Still Have A Little LEFT! )
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WTTCS
freedom , U.S.A.
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Joined: 07/28/2003
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I am a Texas resident and I have VA, Medicare and another. However, I have several (more than 10) relatives that live in Fla. IMO, Fla has the best health care for the seniors that I have found. They use Humana and the benefits are unbelievable. Course most of that depends on your assests. I think one must keep in mind that Fla probally has a higher percentage of seniors than Texas, all crammed into a small state. This is just my experience in Tx and Fla, have no idea about SD.
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Bumpyroad
Virginia
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"Course most of that depends on your assets."
OK, what if you have a decent portfolio and aren't "in-need"?
bumpy
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hitchup
Fulltiming in Gainesville, VA
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Joined: 02/17/2005
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We chose FL mostly because it was handy. DH was working in FL when we decided to start FTing. Our SnB home was in GA. We don't save much on sales tax, but tags are lower without additional taxes. We save a little on State Income tax, but most of our income is out of state.
FL is definitely RV Friendly and has worked out quite well for us. We just ordered our 3rd FT 5er and haven't been back to FL since May of 2005. They have no problem doing everything my mail, including voting.
Our first out-of-state project was in SC. A retired FTer in a MHthe same RVP visting family and getting his annual medical/dental taken care of. He had TX plates because it saved him over $XXXX in tag fees. In GA, they called it ad valorem tax. Can't recall what SC calls it.
2009 DRV Mobile Suite 38TKSB3....our custom home
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Working Fulltimers since 3/2005
"Shoot for the Moon! Even if you miss it, you will land among the Stars."
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WTTCS
freedom , U.S.A.
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It was asked
""Course most of that depends on your assets."
OK, what if you have a decent portfolio and aren't "in-need"?
bumpy "
Truth is , if your in that kind of shape , what matters then? Fla is very kind to its in needy seniors, but they like to take your money if you have any.
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avan
Sioux Falls, SD & Livingston,TX
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I'm not sure I really understand the question. We are FTers and domiciled in SD. We are both under Medicare age but DW is and has been on Medicare for years due to being disabled. I have a regular individual issue health policy.
We have had medical services provided to us in 38 states and our state of residence/domicile has been irrelevant. We own a RV lot in Naples, FL. Prior to that we had a lot in the Stuart FL area. We have wintered in FL ever since we went FT 11 yrs ago. DW has had many surgeries in FL and all but one of her regular doctors are in FL. The fact that we are SD residents is immaterial to all.
As long as the benefits of your policies are portable, i.e., not an HMO for example, state of service nor, for that matter in terms of health care, state of issue shouldn't matter. Economically, it may differ. Ins. companies file rate schedules with each state insurance commission. So rates will vary not only from state to state but also from area to area within the state depending on the area demographics and expected healthcare costs. A policy issued to a resident of metro Miami may cost more per month than a policy issued to a resident of Panama City and both will probably cost more than a policy issued in SD. Those differences however will probably not be threatening to one's economic well being. IMO, it's more important to be concerned with what your coverages are vis a vis your expected needs that what state it is issued out of.
OTOH, it sounds like you have individual issue policies. If you change states, you may not be able to 'carry' those policies to your new state and you will need to get new ones. At our age and the ages you state, we do not present prime demographics to an insurance company and the company may, in its underwriting, look real hard at your application and physical condition so as to determine that they won't take the risk (they tend to like young healthy insured). So you may be 'stuck' with your domicile state so as to not upset your current coverages. Once you get Medicare, that won't, of course, be relevant anymore (at least under today's laws)
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WTTCS
freedom , U.S.A.
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Joined: 07/28/2003
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Keep in mind that fla , under medicare Part b and d, are covered by Humana (You have to understand that states now control Medicare, with reimbursement from the SS ). Rates are based on assets. My BIL is very weathly and his PART B cost him 312.00 per month. That is what I mean by your assets. Yet my MIL, is a person who lives on SS only and her rate for the same is FIVE BUCKS, and the prescription rates are as varied in Fla. She pays 5 bucks period for each prescption. My BIL pays full price, no discount. Her doctor co pay is 5 bucks , His is 20 percent. That is the major differences in Fla that I have found. The rich pay more, the poor pay little.
Avan, your medicare parts b c d and on are based on assets IF you are a Fla resident. Not so in S.D.
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pamvanw
southeastern pa
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Joined: 03/17/2005
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Has anyone determined what the best state of residency is for the nonmedicare eligible fulltimer? TX, SD or FL?
Pam
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Bumpyroad
Virginia
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WTTCS wrote:Keep in mind that fla , under medicare Part b and d, are covered by Humana (You have to understand that states now control Medicare, with reimbursement from the SS ). Rates are based on assets. My BIL is very weathly and his PART B cost him 312.00 per month. That is what I mean by your assets. Yet my MIL, is a person who lives on SS only and her rate for the same is FIVE BUCKS, and the prescription rates are as varied in Fla. She pays 5 bucks period for each prescption. My BIL pays full price, no discount. Her doctor co pay is 5 bucks , His is 20 percent. That is the major differences in Fla that I have found. The rich pay more, the poor pay little..
that was why I asked that question. a big difference between $312 and $5 a month. But is that based on earned income, net worth, etc.?
that could have a big effect on a decision.
bumpy
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WTTCS
freedom , U.S.A.
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Joined: 07/28/2003
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Net worth. And boy does my bil complain about it, yet loves his mothers side. LOL
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