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Retire at 62 and health insurance

Started by Deleted user
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Deleted user

I want to retire at 62 but what can i do for health insurance??

A

Ariel T.

  1. Let an insurance sales agent find you and allow them to present their coverage packages. (First identify if they are compassionate and genuinely care to help you. Including your financial needs.)

  2. You have the opportunity to find healthcare providers, like your Primary Care Physicians-specialists-dental-vision-etc., ask for out of pocket price estimates on services you possibly may need in the future. Most providers are willing to work out low cost options in your case. Try several physicians in your area to find the lowest costs.
    • The important detail in doing this; do the math. Estimated costs for insurance plans vs estimated out of pocket expenses.
  3. If you are not already on an approved regimen, start taking Highly quality Vitamins & Supplements suited to your needs NOW. Highly quality is key, they have the potential to aid in minor ailments to help reduce office visits & Pharmaceuticals expenses.
    Disclaimer: I am not a qualified healthcare physician to make any claims or guarantee my opinion is accurate to any extent. I suggest consulting with your physician(s) on this topic.

Deleted user

My insurance agent has already looked for me a plan and the cheapest is $803 month. Which I cant afford

M

Melissa D.

Also worth looking at the Healthcare Marketplace when renewal season rolls around. I believe subsidies are based on income rather than assets, so maybe you can adjust your retirement income/withdraws to make that work for you.

Deleted user

Tried that too. It will go by my previous years income and will be $780 a month. I have to be on ss for a year to make it affordable. With no healthcare insurance that would be risky

M

Micky H.

Unfortunately @Lillie C. I think this is one of the major issues that come with living in the United States (healthcare is just expensive). The Healthcare Marketplace is a good start, but even that is expensive. Luckily, there is no more penalty for not having health insurance.

My only advice here is look into retiring to another country where your dollars will go further. Also you may also wish to search "Medical Tourism" or "Healthcare Arbitrage" and see if that can set you in the right path to have checkups for chronic issues if you have any. If it's medications, get prescriptions for generics and use a website like GoodRx to find the best prices to acquire the medication. Many pharmacies have a generics program where even without insurance it is affordable.

Deleted user

I looked into that. It was $800 a month. Way pass my budget

R

Renee P.

Unfortunately many people work until age 65 just to get health insurance. Some of employers offer Heath insurance for part time employees.

A

Abigail S.

So upsetting there aren't more affordable options

Deleted user

I was lucky and happy to get approved for Medicaid. I. retired 6 years ago at age 53. I don't have a steady income, but I work online making money until I can apply for social security at age 62, then l will apply for Medicare

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