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I know so many people who want to retire in their early 60s but keep working due to health insurance concerns. I tell them they could go on COBRA for 18 months and or Obamacare for even longer to bridge them to Medicare at 65. They look at me confused or tell me that Obamacare is history.
They tell me it would cost them $2000 a month to cover their health insurance until they are 65, so they keep working. I wonder how many people are working in jobs they hate because of ignorance about COBRA and ObamaCare.
57 years old, hoping to retire at 62 and Health Insurance will be #1 concern, not only for me, but Wife also as my policy covers both, and her policy at work is useless, plus it would eat her paycheck. May end up going to FRA of 67, at which time, she'll be at 64 1/2 just because of Health Insurance
The short answer is Yes. But this topic has been beaten to death; do a search.
I advise waiting for Medicare at 65 for retirement. If you have access to Cobra, use that 18 month availability and retire at 63.5
Nobody knows what will happen to the ACA. My guess is that the Senate won't find an acceptable compromise and therefore will pass nothing. However, the insurance companies don't like the uncertainty and will exit the market in many areas. If you are reliant on those policies, you could become uninsured.
Unfortunately, I have friends with significant health issues who did retire at 56 and who thought they could buy an ACA policy to bridge the gap. Now they are sweating.
I know so many people who want to retire in their early 60s but keep working due to health insurance concerns. I tell them they could go on COBRA for 18 months and or Obamacare for even longer to bridge them to Medicare at 65. They look at me confused or tell me that Obamacare is history.
They tell me it would cost them $2000 a month to cover their health insurance until they are 65, so they keep working. I wonder how many people are working in jobs they hate because of ignorance about COBRA and ObamaCare.
So....What is the answer for these people? What should they do for affordable health ins?
So....What is the answer for these people? What should they do for affordable health ins?
I know some people who are on short term health insurance plans that are not ObamaCare compliant. But I am told they don't fine you anymore for being on them. They are half the cost.
I know so many people who want to retire in their early 60s but keep working due to health insurance concerns. I tell them they could go on COBRA for 18 months and or Obamacare for even longer to bridge them to Medicare at 65. They look at me confused or tell me that Obamacare is history.
They tell me it would cost them $2000 a month to cover their health insurance until they are 65, so they keep working. I wonder how many people are working in jobs they hate because of ignorance about COBRA and ObamaCare.
Is it ignorance or cost? COBRA is often prohibitively expensive...don't be so blithe!
when i was on cobra , the company negotiated terms were much better than i could get on my own and was only slightly more a month .
for 10 bucks more a month the cobra had a 2000 deductible and much lower out of pocket vs 4k on my own along with better coverage on labs and prescriptions .
cobra in ny is 36 months not 18 months . but unless the company is based here they do not have to use 36 months . our company is national so 18 months was my max or i would have kept cobra .
I plan to retire in 3 months at near 60, wife retired at age 54. I would say yes that we added a couple hundred thousand to our cushion in order to ensure we are covered until age 65.
YES
Planned to retire this year, but health insurance changed that. I'm eligible for a pension at 90% of my salary with a 1% COL (starting in year 3). Health insurance will cost approximately 33% of my income. I wasn't planning for this and now will have to work longer. Errrrrrrrrrrrrrrrrrrrrrrr
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