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Old 03-06-2016, 06:19 PM
289 posts, read 424,967 times
Reputation: 133


Hello everyone,
I will be retiring at the age of 62. I have a major concern and obviously it is health insurance at age 62 for my wife and I. I undertsand we can apply for medicare at age 65 but can you please give me some advice on other options for health insurance? I really appreciate your help!!
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Old 03-06-2016, 06:47 PM
13,964 posts, read 7,434,967 times
Reputation: 25501
You always have COBRA as an option for 18 months. Otherwise, it depends on what state you live in and what your income will look like.
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Old 03-06-2016, 08:00 PM
2,043 posts, read 1,951,967 times
Reputation: 3459
Isn't Obamacare inexpensive compared to COBRA if your income is low?
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Old 03-06-2016, 08:20 PM
Location: We_tside PNW (Columbia Gorge) / CO / SA TX / Thailand
22,647 posts, read 40,020,325 times
Reputation: 23806
A(?) CA premium is $1700/ month for 2, so we are without insurnace for first time in 50+ yrs. living rural gives an extra spike in premiums. We Both have pre-existing conditions.

We are a long ways from age 65, parents were under care long before our current age, so we are at hugh risk.

Medi-vacations and 'self-insurance' for the moment. Looking for a non- usa domicile w/ available hc.

There are 3 health care cost sharing networks in USA that are a legal deferral to ACA penalties. These are not to be considered as insurance.
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Old 03-06-2016, 08:22 PM
Location: Paranoid State
13,047 posts, read 10,454,884 times
Reputation: 15684
Just continue working until you hit 65.
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Old 03-06-2016, 09:10 PM
Location: The Berk in Denver, CO USA
14,049 posts, read 20,382,028 times
Reputation: 22835
Default Research

$500/mo/person for Bronze HD + HSA plan in urban area.
Rural is more. Can be way more. Move to the city.
Current health is not relevant.
Smoking is. stop.
Go to state exchange or federal. Ignore subsidy info for noe and just look at plans.
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Old 03-06-2016, 09:12 PM
Location: Silicon Valley
18,130 posts, read 23,010,120 times
Reputation: 35348
Depending on your income and assets, you might qualify for affordable health care plans through your county.
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Old 03-06-2016, 09:34 PM
Location: Ocala, FL
407 posts, read 475,321 times
Reputation: 1299
I live in Marion County, FL, and have Florida Blue under the ACA, preexisting conditions although those don't count any more (just age!). My monthly premium is $125 based on income with subsidy and my maximum out of pocket yearly is $2250 after which Florida Blue pays 100%. I'm 61-1/2 and plan to retire at 62 because emotionally (and somewhat physically) I just can't keep doing this job any more. My income will go up by about $400 a month and I assume my premium might increase slightly at that point in time.

It all depends on where you live as to what your premium will be. Talk with an ACA insurance specialist as what I ended up with wasn't offered on the healthcare.gov website, but the specialist found it for me.
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Old 03-07-2016, 02:33 AM
71,763 posts, read 71,875,234 times
Reputation: 49311
Originally Posted by fumbling View Post
Isn't Obamacare inexpensive compared to COBRA if your income is low?
depends on income level . many times cobra is the better deal unless you get a pretty substantial subsidy .

i am on cobra until december as it was better terms then an aca plan since i could not get a subsidy . in december i will have to grab an aca plan for 10 months until medicare because i will have used up our 18 months of cobra . the aca plan may be a tad cheaper but the deductibles and co-pays are higher then my cobra by thousands .

with the aca plan getting premium help is not hard if your income is low enough but to get out of pocket help it really has to be low . .

aca plans have huge out of pockets and are basically pay as you go unless you qualify for both premium subsidy and out of pocket subsidy . . .
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Old 03-07-2016, 07:18 AM
7,341 posts, read 16,657,901 times
Reputation: 4568
If a person is a military veteran, like I was at 62, I went back on VA Medical. However, now that I'm 66, I'm on Medicare A & B, with a Supplement and Drug Plan, I'm going to leave the VA Medical.
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