What I’m Doing for HEALTH INSURANCE After RETIRING EARLY⚕️

I’ve spent a lot of time researching and planning for health insurance for my early retirement. For people who don’t have other options, there’s COBRA, ACA, and Healthshare plans. I’m going to share what I’ve learned and what I ended up deciding to do myself. If you have a (health reimbursement arrangement) an HRA, you’re going to want to watch this! If you want to plan for early retirement, this video is for you!
**I am NOT a financial planner! This is just the story of my personal financial planning for retirement. You should do your own research and talk with your financial planner before investing.
6 Health Insurance Options For Early Retirees
#retireearly #healthinsurance #cobra #affordablecareact #marketplace #obamacare #subsidies #hra #hsa #medicare #daveramsey #deductible #healthcarecosts #savemoney #retirementplanning

[tammy]

You really have done your homework. Really enjoy your videos. ❤

[pianogirl]

So much great info....appreciate your channel....I am 61 and exploring retiring soon....you are super helpful!

[michaeltomasso]

ACA is working out great for us. It is why we were able to retire early..

[michaelgreskamp]

Julie your videos are great with excellent utilization of graphics that leverage your to the point presentations. To say medical care is dicey for early retirees is an understatement. Keep it up on ly suggestion to improve is a smile from time to time. I always tried to ascribe to "your nof finished dressing untiul you are wearing a smile". Your extra effort is paying off how many times did you tell this to one of your students over the years!

[stevenjgrundy]

I am originally from Australia & ended up in the USA through marriage. The system here just baffles me. My parents back home get all the care anyone would need. Sometime their are additional costs but nothing like the potentially bankrupting scenarios here.

[scratchingkentucky]

I'm retiring early in December Luckily my health insurance continues at the same rate I pay now my employer pays 75% of the cost . Great video

[jdollar]

We have Ambetter in Georgia and pay less than we we did while working. I retired at 58 and we used my wife's work insurance for 2 years. Once we figured out how affordable ACA coverage is, we went ahead and pulled the plug on her working career as an RN.
I see a lot of people approaching retirement who find out they didn't really understand their workplace benefits. The info is available to us, buy when we are younger we really don't pay close attention to how all this will work when we get "old."
I think you're correct in carrying health insurance only for major issues, at least while you're still healthy. Our max out of pocket is $13k. Ours covers our medical checkups 2x a year. It covers dermatology checkups, colonoscopies, etc. We are both healthy at 60 and 62, so we didn't need any of the high dollar plans on ACA.

[maha]

After watching all the options you laid out, you chose the one I would have chose! I like your common-sense approach and analysis

[DaveFoxworth]

I know you have decided on combining an HRA+ACA plan that sounds like it provides just a bit less coverage than you are used to. Have you considered combining your love of travel with medical tourism, at least for routine prevention? A trip to Malaysia, Turkey, Thailand, Colombia or similar might be combined with an all day or two day appointment that covers anything not covered by your health insurance or needed things with a high copay back in the United States. The ACA plan would cover some yearly prevention, I’m sure, but with the right flight price you might get a lot more testing by scheduling travel to a country known for its modern healthcare at reasonable prices.

[cashcompounding]

Seen a few of your videos. I particularly liked this one. It was more informative (for me).
I never paid attention to the channel name but I like it. You might consider using it more in future videos for better branding.

[noreenn]

When I used ACA, my premiums were minimal with a similar deductible, on the bronze plan. Preventive care is covered.

[jenniferwise]

Great information! For those without dental and eye insurance, look around at universities nearby. We have a dental clinic at a local university that offers dental cleanings plus X-rays for $20. You can take the X-rays with you. It is cheaper than co-pays sometimes even if you have dental coverage.

[greggis]

VERY Helpful! Thanks for sharing all your research.

[danncorbit]

Sure is a lot to know. Too bad we don't have coverage like Canada or some of the Scandinavian countries.

[bonitahill]

My goodness you are so good with all this information you are giving to I love every video you have done!!! Sometimes I just check YT to see if you uploaded a new vid 😊. Thank you for the update on this topic!!!! Really good information to know!!

[regineb]

Thanks for walking us through your process. It's a big bummer about the HRA and impact on ACA subsidies. It seems like an unwarranted penalty for being a good saver.

I have gone through a similar research process and ACA will be my best option as I will be eligible for significant subsidies.

Wishing you the best!!!! The info you share is so helpful because these topics are not widely discussed among family and friends!!! Awesome channel!!! 🙂

[happy_exmo]

Good one Julie. I, too, have an HRA and looked at my options. I am lucky in the my former employer (the one I retired from) allowed me to use HRA funds to buy Health Insurance for me and my wife from them. I recommend always talking to your employer before retiring to see if this is an optional benefit.

[bambismomkelly]

Again this video is geared for people who have held government jobs for many years. If you work in the corporate world, you will absolutely not get 33k in an "hra" when you leave work.
I need something like this channel, but for people who do not have government jobs.

[robgoldsmith]

Very good episode Julie. Health insurance is such a concern prior to age 65. Sounds as if each person should essentially set aside $10, 000 per year prior to age 65.

[shaneomack]

I’m 52 and have been very healthy most of my life. Had to have gallbladder surgery back in March. I have decent health insurance thru my employer now but got absolutely steam rolled with a 147k bill from the hospital for an over nite stay, 2 scans to identity the gallbladder issue and then surgery. 🤦🏼‍♂️. And didn’t know you’re in Washington state. I love that state. I’m in Florida and we are a train wreck