Early RetirementHealth InsuranceInfographicsMedicareUpdated for 2020

5 Health Insurance Options For Early Retirees

By May 21, 2019July 31st, 2020No Comments

What options do early retirees have to obtain health insurance coverage before they reach age 65 and can enroll in Medicare? Estimating health care costs during retirement is already challenging and pre-Medicare retirees face additional uncertainty.

When planning for retirement, the key is to focus on the things you can control that matter and build in enough flexibility to feel confident that you can pivot if needed. If medical costs soar, consider your willingness and ability to cut back on other expenses to pay for it. The tradeoff may not be ideal, but it is within your control.

5 health insurance options for early retirees

  1. Continuation on your employer’s health insurance plan
  2. Jumping on a spouse’s insurance
  3. Public exchanges (ACA / Obamacare)
  4. COBRA
  5. Directly through private insurers

Infographic: 5 Medical Insurance Options for Retirees Under Age 65

Whether you’re considering an early retirement buyout package or just retiring early, medical costs should be part of your analysis. Consider the benefits of a comprehensive financial plan to assess whether it’s feasible to retire early and still live the lifestyle you want.

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