Retirement and Health Insurance

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Anonymous writes, “I’m 60 and found out before Christmas my job was being eliminated due to a company sale.

I’ve pondered heavily with retiring early but am not sure what to do. I’m scared to death about the high cost of medical insurance and honestly this is probably holding me back more than anything else.

What do you do for medical insurance when faced with an early retirement? I’ll be able to obtain Cobra for two months after I’m eliminated, and just like the market place insurance, it’s expensive.

I guess what I’m trying to ask is how do you fill the gap between early retirement when it comes to medical insurance but prior to Medicare?”

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5 thoughts on “Retirement and Health Insurance”

  1. In NC there is emergency medicaid. If you have low income there is medicaid. I have never used it because I make over the limit. Check with your social services office. Good lock. Love and light

  2. I had a similar circumstance at same age. Went on unemployment right away, tried Cobra- way too expensive. Scrambled for a few months then finally got a job. Stayed for three months, was able to collect SS. Refinanced house, paid off all bills, lived carefully on limited SS.

  3. I retired early , the state I was in at the time had a affordable health care system for me ,I would look into what your state offers . so it worked out for me some what .

  4. I had to do the early retirement myself to help care for a grandson. That was 2 yrs ago now. I am on Obama care and so far so good. My payments are 0 and co pays are very reasonable.

    1. Good luck
      Retiring early is a bit scary and then to have health care costs on top. I live in Canada so I can’t help you who a good health care provider would be.
      Good luck and this may be a great opportunity for you moving forward.👍

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