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by Yoly Tumangan Tubalinal.
January 1, 2012
A fierce debate is going on in Washington about MEDICARE, the one program our country’s baby boomers (and that includes me) can’t live without at this point in their lives. Some very likely changes/possibilities are scary – raising the eligibility age to 67, increasing premiums for many beneficiaries, revamping co-paynments and deductibles in ways that would raise cost for retirees, privatization of Medicare and heaven knows what more?
But with more than 1.5 million baby boomers signing up for Medicare each year, the program is bound to suffer a huge financial challenge soon. Furthermore, its giant trust fund for inpatient care is projected to run out of money in 2024 and at that point, it will only collect enough payroll taxes to pay 90 percent of benefits. Hence, the need for Medicare reforms.
To add to the seniors’ health care challenges, it should be noted that a Met Life survey of long-term care costs pegged an annual nursing home cost at $87,000, $42,000 for an assisted living place plus much more extra fees for other needed services. Home health aides working around the clock in eight-hour shifts cost $184,000 a year. The survey further claims that 8 out of 10 people over 85 will need this kind of care.
Plight of FilAm seniors
Seeing how tough it is to grow old in America, I have been deliberating on the possibility of retiring in the Philippines. But being the “youngest” among three sisters, I’ll have only my nieces and nephews to count on to care for me there in my old age, a fact that makes me uncomfortable. It’s neither right nor fair to bind them in a responsibility that isn’t really theirs, after all, I have three kids whose moral duty it is to take care of me in my old age. Yet, I see the reality and I know deep within that having them look after me when I’m no longer very functional will make their lives stressful and could even strain family relationships. That, of course, is the last thing I want.
So, what’s an ageing Filipino American woman or man left to do?
My plight, as is the plight of many other FilAm retirees, led me to thinking how neat it would be to have a nice retirement home in the Philippines in a place where at our whim, Bart and I can take a slow, quiet stride along grassy paths, breathe the fresh morning air, soak in the warmth of the early morning sun and just totally get lost in the beauty of the scenery all around us.
To cook fresh fish and eat less meat. To savor the sweetness of homegrown vegetables and fruits. Pass the day leisurely and not worry about any deadline. Chat a lot and eat a little. Chat again and eat a little more. To sleep and wake up at my pleasure… These are the stuff a happy retirement is made of!
A lifestyle like this need not be expensive. For many FilAm retirees to avail of it, it has to be within reach of average Social Security income recipients. Glad to say, we have many options and a lot of choices to consider. Depending on our interests, preferences and priorities, we can explore these options and be surprised at the many possibilities we never thought were there in the first place.
And to build our own support system, we can try convincing some of our friends to also retire in the Philippines. We’ll live close to one another and create a neighborhood of close friends who will look after one another and readily lend help or assistance to someone that needs it. Though it seems far-fetched, hopefully, the idea of the U.S. allowing Medicare portability in the Philippines will happen soon. But if not, we can travel once a year to the U.S. for medical checkup and for those who left their children and grandchildren here, it would be a great opportunity to visit with them.
If you think I’m talking like this only because I’m still feeling buoyed by my recent visit in the Philippines, you aren’t exactly wrong. The truth is, I now see the Philippines from a different perspective. Because while I’ve always thought of the Philippines as a beautiful country, I’ve never thought of it then as a haven for the weary… a second chance at living life to the fullest before the sun sets on me.
Finally, I’m sharing a nice photo or two from our trip to the beautiful island province of Catanduanes, my husband’s birthplace.
Happy New Year!