Early Retirement Health Insurance Options Before Medicare

Early Retirement Health Insurance Options Before Medicare: There are two main health insurance options for those who want to retire early, before age 65: The Affordable Care Act and Healthshares. In this finStream TV video, Amy Shepard speaks with Robert Powell, finStream co-founder aka Mr. Retirement and discusses your options.

[patroberts]

I have thought there could be a graduated access to Medicare. Starting at 61 years old you could get 20% coverage of Medicare, 62 then 40%, 63 get 60%, 64 get 80% before 65 getting 100%. This would help people needing to retire with health coverage and then get us old farts out of jobs that young people need to start their careers and their own financial future planning. Does this make sense to anyone else?

[lindadorman]

What are the best options to consider if I retire at age 62 and move abroad? I know Medicaid/Medicare do not provide coverage outside the US. Is purchasing local health insurance in my new country of residence enough? I've gotten quotes on international health insurance but they seem quite high given I have no pre-existing conditions or special needs.

[CC]

Missed the biggest option, Expanded Medicaid. If your income is less than $17K you qualify. There is no means testing AKA they don't care how much money you have in the bank, only your income (interest income, etc.). 17 red states have not implemented Obamacare's Expanded Medicaid so you may have to move to a state that does have it. There is no premium or deductible.

[tomsokolowskiii]

The biggest problem with healthshare's is that bottom line it is not INSURANCE.. but the problem that I see with them is that agents that offer them do not explain them properly and try to make them sound too much like insurance and do not explain the limitations of these programs

[tomm]

Shocked they didn't mention Medicaid!

If needed beef up your savings and Roths to live on very low income or no income and then get free health care via Medicaid....which will surprise many at how good the coverage is. I've had HMO, PPO, traditional and High Deductible insurance...but the best insurance I ever had was my period of time having Medicaid.

[ZeebNinja]

No real information here.. lots of 'words' about health share but no real content

[Nohan]

Do these Health Shares have "morality clauses"?

[johnd]

I'm hoping Congress lowers Medicare age to 60.

[sumitomoOO]

Health coverage is free in almost the whole world...except USA

[Bwanar]

Thank Obummer & Brandon for making good old traditional health insurance, or just about any health insurance unaffordable these days. It's the penalty for working hard.

[swamprat]

I looked into the healthcare dot gov sight to get an idea what it would cost me to replace the coverage I have now and it was 10k a year which was a blue cross blue shield gold plan. Scared to look again to see how much it is with the inflation going on and the deflation in the retirement accounts.