Kenneth Moe knew that moving South, to retire in Maryville,
might pose some hazards to his health care coverage.

"If I had really gotten sick, I would have had to go back to Chicago to have anything done," he says.

As of January, he no longer qualified for COBRA coverage through his former employer. He won't qualify for Medicare until he turns 65 next year. He bears the full cost of his insurance; $1417 a month.

"There's all kinds of deductibles, all kinds of minimum payments and co-payments," he says.

"My wife and I prepared well for my retirement, but this is the cost of a nice car."

Moe has a "Guaranteed Coverage" policy; it can't be cancelled, nor
will his insurer refuse to cover treatments, according to insurance agent Bill Holland.

At minimum, such coverage will run about $800 per month, with a $2500 deductible, Holland says.

It's not quite like Vegas, but when you're picking insurance you start looking at the odds," he says.

"You need to ask not only what you can afford, but how often you need to go to the doctor. How many prescriptions will you need?"

A basic plan for a healthy family of four (2 adults, 2 children) carries a $700 monthly premium and a $2,500 deductible, Holland says.

"The premium drops to about $400 if you cover only for that big hit--
the major injury, major illness hospital stay."

Such catastrophic coverage carries a $5,000 deductible, but
families can offset that hit by establishing a Health Care Savings Account. Contributions to HSA's are tax-deductible, Holland says.

He recounts his own experience: "$125,000 and 3 stents later, I can figure out sooner or later how to pay the $5000 deductible. It's the other 120 thousand that I couldn't."

Thursday, President Obama told attendees at his Health Care Summit that the goal of reform is to maximize coverage while minimizing financial risk.

Obama was Moe's Senator before winning the 2008 election.

Moe believes the President could achieve real reforms by making seniors eligible for Medicare the day they qualify for Social Security.

"I'm not looking to have something for nothing," he says.

"But it least it would make it easier for me to get insurance without having to jump through so many hoops."