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Old 03-07-2015, 07:27 PM
 
289 posts, read 424,207 times
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Hello,
My wife and I would like to apply for social security at age 62 and retire in the next ten years. I need to do more research on this becoming a reality because we will need health insurance at the time we would like to retire. Can you please give me some suggestions on the options available for us at 62 ? I would greatly appreciate it.
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Old 03-07-2015, 07:34 PM
 
Location: Wisconsin
21,538 posts, read 43,992,643 times
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Ten years is way too far ahead to know anything for sure. Today and most likely through the end of this year you have subsidized insurance through the ACA exchanges. Who knows after June and the Supreme Court ruling, what follows. Fyi, ACA health insurance today for a married couple in their early 60's runs at least $1,000/mo. Your other option would be a health ministry. There has been a lot of discussion on the health insurance forum on both issues.

http://www.city-data.com/forum/health-insurance/

Last edited by Ariadne22; 03-07-2015 at 07:45 PM..
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Old 03-07-2015, 07:43 PM
 
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As of now either a employer plan or thru exchanges that I know of. Subsidty will depend on income like anyone else.
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Old 03-07-2015, 07:47 PM
 
1,734 posts, read 1,948,785 times
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Quote:
Originally Posted by Ariadne22 View Post
Ten years is way too far ahead to know anything for sure. Today and most likely through the end of this year you have subsidized insurance through the ACA exchanges. Who knows after June and the Supreme Court ruling, what follows. Fyi, ACA health insurance today for a married couple in their early 60's runs at least $1,000/mo. Your other option would be a health ministry. There has been a lot of discussion on the health insurance forum on both issues.

http://www.city-data.com/forum/health-insurance/
Ariadne - OMG! $1000/month???!!! We are well and truly in deep doo-doo as a nation. Time to dust offthose manuals on dual citizenship. I wonder how close (generationally) you need to be to the auld sod?

Terrifying prospect! Thanks for the information. Best, Jane
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Old 03-07-2015, 07:53 PM
 
Location: Central IL
15,224 posts, read 8,523,201 times
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Quote:
Originally Posted by jane_sm1th73 View Post
Ariadne - OMG! $1000/month???!!! We are well and truly in deep doo-doo as a nation. Time to dust offthose manuals on dual citizenship. I wonder how close (generationally) you need to be to the auld sod?

Terrifying prospect! Thanks for the information. Best, Jane
But is $1k really out of line considering how much some 60 year olds spend on healthcare? If you're diabetic and have need of a couple other specialists, lots of prescriptions and maybe an out patient surgery you can easily rack up thousands including all the tests that are called for.
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Old 03-07-2015, 08:03 PM
 
526 posts, read 741,419 times
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Quote:
Originally Posted by Ariadne22 View Post
Ten years is way too far ahead to know anything for sure. Today and most likely through the end of this year you have subsidized insurance through the ACA exchanges. Who knows after June and the Supreme Court ruling, what follows. Fyi, ACA health insurance today for a married couple in their early 60's runs at least $1,000/mo. Your other option would be a health ministry. There has been a lot of discussion on the health insurance forum on both issues.

http://www.city-data.com/forum/health-insurance/

very, very true. I retired in 2005, other people retiring at same time paid $300 thru our employee plan. I was on DH's plan until 2013, cost had risen for me/other "young' retirees to $600/mo. AND NO decent dental plan ANYWHERE!! who knows what 10 years will bring?
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Old 03-08-2015, 08:24 AM
 
57 posts, read 45,031 times
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It's $1000 a month because you have help pay for all the people that get it for free or reduced pricing. Which I believe was the purpose of the law. It goes with the free housing, cell phones and groceries.
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Old 03-08-2015, 08:33 AM
 
Location: Mount Airy, Maryland
10,460 posts, read 5,924,770 times
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Quote:
Originally Posted by Coverdog View Post
It's $1000 a month because you have help pay for all the people that get it for free or reduced pricing. Which I believe was the purpose of the law. It goes with the free housing, cell phones and groceries.
And if this poster, or any one of us, has any number of pre-existing conditions such as a bad back, they can forget about having the ability to purchase any form of health care coverage if the ACA is repealed. They will be uninsured and face financial ruin with a serious illness or injury.

Keep that in mind as you continue to show your politics.
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Old 03-08-2015, 09:06 AM
mlb
 
Location: North Monterey County
3,179 posts, read 2,855,355 times
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What Dave said.
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Old 03-08-2015, 10:31 AM
 
9,191 posts, read 9,269,502 times
Reputation: 28794
Quote:
Originally Posted by murph1982 View Post
Hello,
My wife and I would like to apply for social security at age 62 and retire in the next ten years. I need to do more research on this becoming a reality because we will need health insurance at the time we would like to retire. Can you please give me some suggestions on the options available for us at 62 ? I would greatly appreciate it.
My first question is are you "dead set" about retiring at 62? With the uncertainty in the health insurance market right now because we don't what Congress and/or the Supreme Court may do to the ACA, its very hard to predict what will happen. My solution is to work past age 62.
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