How to Pay for Health Care if you Retire at 62?

ABOUT THIS VIDEO
You have a lot of health care options if you retire before age 65. In this clip of Retiring Today, Loren Merkle and Molly Nelson discuss one specific option that could allow you to retire early.

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This video does not constitute an offer to sell, a solicitation of an offer to buy, or a recommendation of any security or any other product or service by Merkle Retirement Planning LLC, Elite Retirement Planning LLC, MRP Insurance LLC, or any other third party regardless of whether such security, product or service is referenced in this episode. Furthermore, nothing in this episode is intended to provide tax, legal, or investment advice and nothing in this episode should be construed as a recommendation to buy, sell, or hold any investment or security or to engage in any investment strategy or transaction. Merkle Retirement Planning, LLC does not represent that the securities, products, or services discussed in this episode are suitable for any particular investor. You are solely responsible for determining whether any investment, investment strategy, security or related transaction is appropriate for you based on your personal investment objectives, financial circumstances and risk tolerance. You should consult your business advisor, attorney, or tax and accounting advisor regarding your specific business, legal or tax situation.

[BillyBobDingledorf]

Within the first three seconds, this smelled like an infomercial.

[michellewinkler]

Many people have a "physical job" and can't wait till FRA. My husband is one of these people. He has to retire at 62 no matter what.

[b.deville]

So your advice it to plan for post-retirement healthcare using Cobra or spouse's plan? Thanks for nothin'!

[tanyachristenbery]

Cobra is too expensive would cost me $1600.00 p/m

[robprarson]

How the "F" is Cobra affordable insurance?

[RetrieverTrainingAlone]

Excellent! We limited our retirement withdrawals in order to qualify for Obamacare or ACA and that saved us over $25, 000 per year in heath insurance premiums. In Alaska the income threshold to qualify was $89, 000 for a couple.

[CynthiaIvers]

Reduce income (but not too much to go on Medicaid) to qualify for Obamacare until you're 65.

[skydancerforever]

I retired last year at 62. I went with ACA (Obamacare) for health insurance and cobra for Dental. My Dental expires on 1/31/2024 so i need to find good dental insurance at a good rate?

[PatriotSteve]

what about obamacare? That’s an option.

[seriouslyyoujest]

Live in Oregon, it’s free!!! And better than Kaiser which Premiums over 10 years, were more than my house cost me 10 years before that!

[ericpurdy]

Reduce or shelter your income and pay nothing for healthcare.

[haroldcarson]

I want to collect SS at 62, but I don't want a tiny check. Suggestions?

[billballoo]

Celebrate at 65? Pfft, medicare isn't that great and you still have monthly premiums. People think Medicare is such a godsend.

[frugalex-maineah]

Too simplistic. I'm looking to retire 7/1, go on COBRA for the remainder of 2023 and do Roth Conversions in 2023. 2024 is questionable, stop ROTH Conversions and go on an ACA subsidized plan, or remain on COBRA and fill the 22 or 24% Marginal Tax bucket?

[johnnyjava_]

When you're first in the comments you get free health care as a benny!

[darneljackson]

Buy a separate insurance policy until u turn 65 then u automatically apply for Medicare at 65

[robprarson]

I know where I wont go for financial advise!
Merkle Retirement Planning SUCKS

[dianaradford]

Working and paying for health care out of pay check every pay you still have no health care so what's the point of health . You pay out of pocket either way. 😂😂

[simmons]

Obama care is too high $1900 a month for my wife and I.