Retiring at 62, Insurance ?

[Coach]

I’m thinking about retiring next year at 62 , Insurance is my only concern.
Those that retired before 65 what options did you find for insurance.
I’ll still have my wife and 3 kids on the plan.

Thanks, in advance.

 

[eightnsand]

Your ****ed. All part of the setup. One has to work til Medicare. Unless your a ner do well then it’s free.
Catastrophic insurance with high deductible and high premiums. Age of wife and kids would be helpful.
In for resolution and good luck.

 

[Treehawk]

In for info.

 

[Lightning8]

If you retired and have "minimal" income (drawing from savings, etc.) then you may qualify for subsidized Obamacare. Not sure if they look backwards on earning years.

 

[Navy Dad]

I’m thinking about retiring next year at 62 , Insurance is my only concern.
Those that retired before 65 what options did you find for insurance.
I’ll still have my wife and 3 kids on the plan.

Thanks, in advance.

I was blessed to have a wife who had great health insurance at her job and I was already on her plan.

 

[87KJH]

For a general idea of what insurance costs will be you can see plans and estimated prices for 2024.

Tips about the Health Insurance Marketplace® | HealthCare.gov

www.healthcare.gov

Every individual and family is different but some of the plans are $2,000 + per month for a high deductible plan and $2,600 + per month for a low deductible plan.

 

[basstracker89]

I was blessed to have a wife who had great health insurance at her job and I was already on her plan.

^^^^This......

 

[killerv]

For a general idea of what insurance costs will be you can see plans and estimated prices for 2024.

Tips about the Health Insurance Marketplace® | HealthCare.gov

www.healthcare.gov

Every individual and family is different but some of the plans are $2,000 + per month for a high deductible plan and $2,600 + per month for a low deductible plan.

Not possible, its called the Affordable Care Act for a reason

I'm being facetious of course

 

[killerv]

Just go to emergency room, basically free these days, whatever you get, what most people do

I know bad advise, but for some reason thats the case these days.

This past year a friend of mine lost his job, lost his insurance, mid 50s. Due to some rental property he has, when he went to sign up for Obamacare, they said he made too much money to get it. So he goes without, and then he has a bad medical event. In the hospital for a couple weeks, bypasses and stints in both legs. Bill....400k. After negotiations he settled at 110k for 30 years. Minimum payment 5 bucks a month. He wrote a check for 2k to start paying it down, they were so pleased they dropped it to 50k to pay back. It went from 400k down to 50k in the matter of a month or two.

 

[MrJim]

^^^^This......

Yep This. She needs to work 4 more years to hit 62 and I need 2 years til medicare.