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Wise Exchange Rate Today June 16, 2022

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tpiro

@talamban  OMG dude.. I am in the  same boat as you... living on SS in Cebu.  You are right about the Medicare Part B...  still hold on to Part A.. it doesn't cost you anything.. USA owes it to you for working all the years.  I save over $2k a year not using Part B and I use that in the Philippines for medical/prescriptions for "pay as I go".  So far it is working for me and you can't beat the prices.  But I'm going to hang on to Part A for any major medical I may have in the future and just fly back to US or Guam.... as long it's not an emergency surgery..  flip of the cards on that one!   I had to fly back for my brother's surgery recently and trust me.. in New England area-  is horrific and i can't afford anything here... cost has gone through the roof.  1 lb of bacon is over $9.. glad I quit smoking b/c a pack of ciggs are $20....   forget it!  and I can't wait to get back home to Cebu.  Good luck and let's keep in touch.    Tony

Timo62
I am also concerned about higher prices in the U.S. Prices there seem ridiculous compared to here in the PH. I am maintaining my Medicare and also Med Insurance for my younger Filipina wife and our three children. Are you aware of the costs for hospital care in U.S. now? Youtuber John of "Turquoise Sunsets"  told how he just paid $125 for a doctor visit for his wife (while they are in the U.S.) the doctor wrote her a prescription for a $15 medicine. He said she could probably have gotten it here in the Philippines in a drugstore without a prescription.
I just checked and found that Florida State average ER visit cost (charge) was $7,321 (if one does not have medical insurance) or $50 to $150 copay if one has medical insurance.
Philippines looks better all the time! If one can live near an average good quality hospital here in the Philippines.
My Mom, who moved here with us in 2018, died after several hospitalizations here. Around one month each and they totaled to about $60,000 U.S. I reckon Her Filipino doctor kept her alive at least an extra six months. Mom was ninety five.
Enzyte Bob
Another thing almost associated. . . .Married men should leave paper trail for your surviving family members, especially in case you should die in the Philippines.

I have a printed list of 38 important logins & passwords, also a list of challenge questions.
A list of important names & telephone numbers, insurance policies with up to date beneficiaries and addresses for next of kins.

A will, a living will, a power of attorney document in case I'm not capable of making decisions on my death bed.

You never know when your last day is, updating tomorrow is too late.

pnwcyclist
Really good point, Spence. Not to mention leaving something for them to begin with. Sad how many leave nothing for their partner here. We know of two just in the past year.
talamban

@tpiro Thx Tony. Good Advice. I continue to learn such helpful info on this Expat site. I will need to recheck my SS to see what I need to do for Part A. I think I eliminated it, but I agree wd be good for catastrophic med emergencies. However, I still feel if any Super Major Issue occurs; then doubtful I can afford it no matter where I am. I try to keep some money available; but if like Gov. Garcia's brothers experienced Multi-Million Dollar Hospital Bills, then I am not even close to being able to handle it. Ten K, and I am destitute. BTW, little known fact: When you die, SS will Claw Back your monthly payment from your bank if you die AFTER the Second Wednesday Scheduled Payment. My mother died on February 29th - only happens every four years - and they pulled her prior bank transfer. Heartless.

sekmet
@Enzyte Bob  I think it will compound. The point is if you have a low appetite for risk,  the I-bond is a pretty good bet. You won't get that interest rate from a  CD or bank account and they are guaranteed not to lose principle.

I have investments spread out over many asset classes.
tpiro
@talamban Oh absolutely they are heartless... sorry that happened to your Mom.  They don't care, government doesn't care, the healthcare system doesn't care, judicial system doesn't care... it is such a shit storm.  The US systems are pretty well broken and are in dire need of repair.   I would continue your Medicare Part A..  you have already paid for that.  If you did cancel it.. you may have to write a letter to Medicare and try to enroll back in come October.  Once you get fully established in PH, with proper identification-  you can apply for PhilHealth which runs about $360 USD per year.  They are not much but will help in some cases.  You may want to ask further on this.. on this expat.com.

Good luck Man...
Enzyte Bob
@talamban said . . . .BTW, little known fact: When you die, SS will Claw Back your monthly payment from your bank if you die AFTER the Second Wednesday Scheduled Payment. My mother died on February 29th - only happens every four years - and they pulled her prior bank transfer. Heartless
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Planning forward which I'm not advocating, which some social security recipients family have done, is not reporting the death or obtaining  a death certificate.

If funeral arrangements were made in the states, the funeral director does the necessary legal paperwork and the SS payments will stop.

From time to time you read about fraud of a family collecting SS benefits for years & years beyond the death. Maybe Granny was put in a freezer sitting on the back porch?    It's cheaper than renting a storage facility.

You would be amazed how many Centenarians are still alive? . . . . According to the SS administration, that still are collecting benefits.

My wife's cousin was the son of a US Navy Commander and a Pinay. The retired Commander built a beautiful American style home in Antipolo, wet bar, the whole nine yards on a nice size property. The family, the son & his wife, the grand children lived a very good life.

A very good life until the Commander died and his death registered. Now they are living in poverty.

Here in the Philippines a Cremation can be had for P5000 maybe an extra P1000 for no questions asked.
Moon Dog
I wonder how old you would have to be for SS to automatically stop payments? Will my benefits continue at age 120 if my death is not reported?
Enzyte Bob
I wonder how old you would have to be for SS to automatically stop payments? Will my benefits continue at age 120 if my death is not reported?
- @Moon Dog
I really have no idea. . . .But knowing or thinking, I had a strong feeling that the ss administration does not have software to detect that yet as they are always behind the curve.

So if somebody is really wants to take advantage of the system from the Philippines.

(1) Get a stateside re-mailer to forward any mail from the Social Security.
(2) Have a checking account in the states for your SS deposit. (Exclusively for your SS)
(3) Transfer the deposit immediately.
(4) Register at: MYSSA.COM
msmichaelstinson161

@Moon Dog If you're a registered Democrat it will continue ad infinitum.  If Republican,  you'll go to jail until you are 120.

pilotdrh

@lcdrski I heard it's probably going to go down a little with the credit for the over charges that were based on the Alzheimer pill.

Enzyte Bob

@lcdrski I heard it's probably going to go down a little with the credit for the over charges that were based on the Alzheimer pill.

- @pilotdrh

A man is worried he had Alzheimer so calls their hotline and leaves his number. They forgot to call him back.

A wife thinks her husband has Alzheimer so she makes an appointment for him. Th Doctor asks what seems to be the problem? The wife answers, he thinks he is a refrigerator. The Doctor said "What's so unusual about that?"

She replied, he sleeps with his mouth open and the light keeps me awake.

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