Retirement — health insurance before Medicare age
Hi Terry, I’m want to retire in January 2021. But thing that is holding me back is the health insurance. I was wandering if there was options or other insurance that are much less expensive then the one I’m being offer? Thank you .
Terry Says
That’s the most important consideration for people who retire before they are eligible for Medicare. Your company may offer COBRA — a mandated 18-month extension of your company health benefits. But it is VERY expensive.
You can also go to www.eHealthInsurance.com to seek out individual policies. You might even qualify for an Obamacare policy with a subsidy, depending on your retirement income.
There are short-term policies — that last for just a year, that are also less expensive — but they may not cover pre-existing conditions or have as broad a coverage as a more traditional policy.
But do make arrangements in advance — because it would be terrible to start out retirement with no health insurance, or a policy you cannot afford!
