Health insurance costs during early retirement

55 posts in this topic

 

worst case is you´d have to get mandatory private insurance under the Basistarif for about EUR 700/month.

 

this is hilarious...find me a broker here who will sell Basistarif and I will be your slave lolo...the law it is...getting it is virtually impossible...so impossible that i plan on doing a you tube on the subject as well as writing a short e kindle on the subject...the stories and characters...some here...some dont care come here anymore they fear i will trash them...the one who deleted himself from here is so much fun...and i am NOT kidding...spent hours and hours and hours with wonderful conversations...i learned everything about this guy, so interesting and makes a the best espresso outside Italy! I am not kidding, only thing is, so far as his willingness to sell me basistarif...well...this won't happen if for no other reason than brokers make NO commission off basistarif ...basistarif is a vulgar word and should NEVER be mentioned around brokers in this country...i find this funny now...and as i said, i shall be writing a kindle ebook for my QUEST and ODYSSEY to gain basistarif over months and months and months has been a failure...i have now a list of over 100 excuses ...some so bizarre they will make my ebook a best seller for it truly is crazy...i do NOT blame the brokers and i do NOT blame the insurance companies BECAUSE although it has been THE LAW since July of 2009 and was very humanitarian thing the German govt did with this basistarif...HOWEVER it was not planned out well..for brokers are not members of some cloistered religious order nor are they the Salvation Army or the insurance arm of Mother Teresa of Calcutta's Sisters of Charity...nein nein nein...they are business people and they are running a business for profit so WHY should they be obligated to work for FREE and this is what happens besides the fact that the insurance companies that after months and months of working for nothing finally in some cases the independent brokers PUSH and DO FORCE an insurance company to sell this and ONLY do so because the CLIENT is forking over tons of money so the broker does not work for free so months and thousands of euros later the insurnace company will find themselves being forced to sell what is a total LOSER for ALL but the one who needs this insurance and the broker is then looked upon not so kindly and this is horrible for the poor broker for he now is on a sort of black list for having forced the companies to sell a policy that cannot be cancelled even if the person misses a payment and if the person who seeks this insurance walks into a brokers office with liver failure ,brain cancer, diabetes, heart disease, and dementia, etc, etc, etc according to law it must be sold ...i.e. the broker cannot say I REFUSE TO SELL U BASISTARIF for if he or she did this they would be breaking the law..of course having a zillion excuses is what happens and as i said, I do not blame them but come on and i wont say who gave me this silly excuse...that his son was going off to some ashram in the Himalayas to become a permaneent Buddhhist monk and so he was taking off to try to talk him out of it and was just rushing out the door to join his son and fly to Katmandu and asked me to pray to Jesus that he could change his son's mind. THAT was about the funniest one. There is another absolutely funnier than hell one about a certain city in this world that everyone cant stand but this other one in order he thought to get easy rapport with me told me that this city was a SECOND HOME TO HIM...so hilarious was this i almost pissed my pants. So if u lookin' fir basistarif as i said if one of u all brokers out there and I KNOW u KNOW who i am for u all do from Linkedin and u are a small clique and wow i now have spent over 5000 euros and i owe this one i love the best over 700 euros for his coffee and conversation which included not one single word other than ...well not a word about insurance...it WAS THE most expensive cup of coffee i ever had...but it was and still IS the BEST cup of coffee i've ever had. Good night as i said i not wishing to name names ...i mean WHY...just wished to share my experience with this 680 euros plus 80 for the long care nursing that sadly i cannot get so i must say bye bye forever it seems ...i love Germany and i love Germans and sad this is going to happen to me for this has become my home. And i shall soon lose it.

 

Kateuk: it would make so much better reading if you would structure your text a wee bit - this is really painfull to read as it is.

 

First of all: you only talk about "broker" which leads me to belive that you have not understood yet the difference between tied agents and independent broker in the first place. Tied agents (both single and multi tied) is the norm in Germany, about 80-90 % of insurance intermediaries are tied agents. As such they legally present the interest of the insurance companies they are tied to and are not "working for you" in any way or form. An independent broker has to present your best interest, he is acting on your side, in your name.

 

Since the insurance companies don't want anyone in their Basis-Tarif (and yes, you are right, it is the law, but they still try to avoid it like the pest), the tied agents will most often not be able to get anyone into the Basis-Tarif with the insurance companies they are tied to. Because they suffer penalties internally if they do and more.

 

An independent broker WILL get you into a Basis-Tarif. But he/she is running a business and it costs a lot of time and a serious amount of twisting arms at the insurance companies to get someone into the Basis-Tarif. We discuss this quite openly with our clients and if it is the first and only business we can do with the client, we will charge a flat fee of around 500 EUR for our troubles. I think that this is fair and so far all our clients found it fair, too, when properly explained. Of course at the beginning would always be an assessment if the client actually needs the Basis-Tarif or not and if he is eligible for it (not having a proper Visa if you come from outside the EU can indeed make it impossible to getting a Basis-Tarif). Sometimes an international health insurance may well be a better solution - depending on what medical conditions there are that need instant coverage or not.

 

But I can fully understand your vexation and frustration as I have to communicate with German insurance companies everyday and most often it is about telling them what the law is and what they have to do or else...

 

Cheerio

I am a professional independent insurance broker, financial adviser, and authorised advertiser. Contact me.
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Hi,

If I have private health insurance paying for example 400 per month and retire at 55 or 60 or whatever age what happens if I remain in Germany and continue to pay in to the private health insurance company?  My employer contributes to my health insurance so what happens when I retire and they are no longer my employer?  Do I have to pay the portion they are no longer paying?  Does my premium go up to over 700 per month?

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Well

20 minutes ago, dipole said:

Hi,

If I have private health insurance paying for example 400 per month and retire at 55 or 60 or whatever age what happens ...

Your birth year on your profile says 1920.  So, 55 or 60 is long gone! :o

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36 minutes ago, PandaMunich said:

Yes and yes.

That is a serious amount of money to have to be finding each month for the remainder of my retired life.  How do people in practical terms cope?  

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Is that stuff about the UK paying the GKV if you have a UK pension correct? Seems too good to be true.

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If I'm paying about 430 euro now per month at mid forties how much can I expect to be when I'm 65 or 70 in today's money without accounting for inflation/CPI?  €900 to 1000 ?  more?

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43 minutes ago, murphaph said:

Is that stuff about the UK paying the GKV if you have a UK pension correct? 

 

No, it's a warning about private health insurance.

You might want to read it.

 

15 minutes ago, dipole said:

If I'm paying about 430 euro now per month at mid forties how much can I expect to be when I'm 65 or 70 in today's money without accounting for inflation/CPI?  €900 to 1000 ?  more?

 

Yes, sorry.

Solution, since you're under 55: reduce your pay, e.g. by working a few less hours per week, to under the Versicherungspflichtgrenze of 5,212.50€ monthly gross salary.

This will immediately kick you out of your private health insurance and make you a mandatory member of public health insurance - at least will charge by your (lower) income when you're retired and not according to your age.

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10 minutes ago, PandaMunich said:

Yes, sorry.

ok.  better not put roots down here then as it will completely derail my plans to retire early.

10 minutes ago, PandaMunich said:

 

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The redundancy payout I would hopefully use to retire early depends on a final high salary so it would be a bit difficult to manoeuvre around it and a lot would have to fall in place also house prices are crazy high in Heidelberg which is the only part of the Country I would want to live in so might as well head home.

Genius system; Germany paid nothing toward me in terms of social security when I was a young, tax me to the hilt while working here and use push factors to push me out of the country when I might start costing them money when I get older.  I'll try to get a state pension out of them and head back home.

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27 minutes ago, PandaMunich said:

 

No, it's a warning about private health insurance.

You might want to read it.

 

 

Yes, sorry.

Solution, since you're under 55: reduce your pay, e.g. by working a few less hours per week, to under the Versicherungspflichtgrenze of 5,212.50€ monthly gross salary.

This will immediately kick you out of your private health insurance and make you a mandatory member of public health insurance - at least will charge by your (lower) income when you're retired and not according to your age.

This is an issue I have on a daily basis with clients, Panda. The issue is..well, not only what-is-now but what is in 20-30 years? Nobody knows..that is the truth. People do not always take kindly to that question. ( I don´t either...I´m 67 and don´t want to think about being 87 or 97..jeez!! )

Germany may change its rules, system, complexity..no nobody knows. So I can only work on what it is NOW and add a caveat.

Nobody expected the Soviet Union to fall or Britain to leave the EU etc and the consequences...

 

And nobody expects the Spanish Inquisition!

:P

I am a professional independent insurance broker and authorised advertiser. Contact me.
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dipole, reducing your wage to get into public health is only required temporarily - then you can go back to a higher wage and stay within public as a voluntary member.

 

How that affects you on retirement, I don't know. Panda and john will, and it may not help at all, so please don't get your hopes up until they answer!

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2 minutes ago, someonesdaughter said:

As an Irishman you could have been accepted into the statutory health insurance in Germany, when you moved here - as a voluntary member, but you obviously didn't want that. 

 

I bet the salesperson who sold him private insurance didn't mention all the disadvantages of choosing that route. 

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🙂
 
5 minutes ago, dipole said:

that would have depended on the Insurance salesman who was introduced to me by my company appointed relocation specialist explaining the health insurance system to me which was not done...

 

Absolutely typical [for private insurance agents to lead foreigners up the garden path]. Plan to switch to public (hard to do in most cases) or retire somewhere else. That's what I'll have to do. It's too expensive in Germany.

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2 minutes ago, dipole said:

that would have depended on the Insurance salesman who was introduced to me by my company appointed relocation specialist explaining the health insurance system to me which was not done so I would appreciate it if you stopped trawling my history and dismount from your high horse.

Helpful contributions are welcome, yours are not.

Yours is a typical tale, dipole. You would not be surprised to know how little helpful information is really given to newcomers - even by companies.

It is not your fault.

It is very " easy " to say to someone..." this is our guy/gal " for insurance."

Most insurance " salespeople " don´t look at the bigger picture - which includes long term plans, family plans..and other issues such as personal liability insurance, income protection in case of an accident/long term bad health etc. Not only health insurance.

 

The relocation specialist is not an insurance specialist and the insurance specialist didn´t explain the system? That is unacceptable. Do you have any records of your email exchanges etc?

I am a professional independent insurance broker and authorised advertiser. Contact me.
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I assume I'll have to go part-time for a year.  I'll forego so much salary to get back on to the public insurance.   

I remember when I wanted to get out of the expensive haftpflicht insurance the same Broker sold me.  Kundigungsfrist wasn't explained to me either and he wanted his commission.

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12 minutes ago, dipole said:

I assume I'll have to go part-time for a year.  I'll forego so much salary to get back on to the public insurance.   

I remember when I wanted to get out of the expensive haftpflicht insurance the same Broker sold me.  Kundigungsfrist wasn't explained to me either and he wanted his commission.

 

I thought you only had to do that for a month, not a full year.

 

https://www.toytowngermany.com/forum/topic/307525-now-faster-way-back-into-public-health-insurance/?page=1

 

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