Retired young...er. Health insurance options?

[Heavenly]

Just curious, I'm 53 and retired. Lucky me. But now health insurance is a puzzle.

I'm currently on California's Medi-cal, but that's terrible coverage. I've had really bad service. Wondering how some of you other guys/gals are handling this? I can afford better coverage just not sure where to go to get it.

 

[BruceH]

You probably already would of done this had it been possible but I'll throw it out anyway. Are you married and if so can you get on your wife or significant other's health insurance?

Health insurance is one of the biggest obstacles to early retirement. Having a spouse or domestic partner who can put you on their policy is the only work around I'm aware of.

 

[Heavenly]

Nope, we're both out. We're on medi-cal for free. Heck, I'd pay them to get better coverage. Wonder if they offer that.

 

[Steveruch]

Just curious, I'm 53 and retired. Lucky me. But now health insurance is a puzzle.

I'm currently on California's Medi-cal, but that's terrible coverage. I've had really bad service. Wondering how some of you other guys/gals are handling this? I can afford better coverage just not sure where to go to get it.

My wife's on Medi-cal and she's had great service, including being life-flighted to Eugene, Oregon and then to Portand for open heart surgery.

 

[Steveruch]

Are you a veteran? I've had great health care from the V A.

 

[z-bob]

I will be 60 in November, and I'm tentatively planning to retire in December. The health care thing, and when to take Social Security, are the tricky parts and why I have a little bit of doubt. And I've been planning for this (assuming I'd be forced out in my 50's because that's what all the big tech companies do) since I was 30.

I'm thinking of taking my employer's COBRA plan for a year while living off my savings so I have virtually no income, then after a year of that switch to Obamacare. Hopefully they don't means-test it; just see that I have no income and give me the maximum subsidy. Part of my retirement package is a "Future Health Account" that should cover those overpriced COBRA premiums for almost a year and a half, so I'll burn thru most of that and save the rest for Medicare Part B.

As to Social Security, I'm starting to think taking it early is the right plan. I'll get smaller checks, but more of them; the break-even point is probably about 90 so I'll have more money early in my retirement while I can enjoy it and less at the end when it's all going to a nursing home anyway, and it will help preserve my cash while I'm waiting for Medicare eligibility.

 

[Heavenly]

My wife's on Medi-cal and she's had great service, including being life-flighted to Eugene, Oregon and then to Portand for open heart surgery.

I have outstanding blood tests from 2 months ago. Apparently the doctor is too busy to read/approve the results. He said I was obese at our first appointment as he walked in the room without even looking at me. I'm 6'4" and 182. He said I needed a pancreas test and a colonoscopy. This was 2 months ago and they haven't been ordered despite my calling. I think he never wrote them down and forgot. But hey, it's my life right?

 

[CKuhns]

Depends on where she lives.

Im in Minnesota and the MN-Care option is pretty good. Have had no issues with it.

Literally a hundred or more options / plans to choose from at what i consider a reasonable price to expensive. (Not cheap but you get what you pay for.) The fee structure and discount is based upon expected income.

 

[hilljack13]

Are you a veteran? I've had great health care from the V A.

Tricare? I'm out next year and wondering if you get what you pay for...seems that way during AD.

 

[Steveruch]

Tricare? I'm out next year and wondering if you get what you pay for...seems that way during AD.

No, straight V A health-care. Since I qualify as low income there are no costs to me. Before I retired my income level had me paying copays.

 

[D the Catastrophist]

Depending on your state, they may have their own Healthcare marketplace where you can sign up for plans. For you I think it is coveredca.com. in colorado its connectforhealthco.com.

Essentially you can pick and enroll in a plan. There are income based deductions you can get in one of two ways 1). Provide documentation at the start. If you do this and end up taking more withdrawals, have a higher income, you have to pay back, pay penalties come tax time. 2). Pay the full bill and then when you file taxes you can get credit for it to offset your total bill.

 

[madscientist451]

I have outstanding blood tests from 2 months ago. Apparently the doctor is too busy to read/approve the results. He said I was obese at our first appointment as he walked in the room without even looking at me. I'm 6'4" and 182. He said I needed a pancreas test and a colonoscopy. This was 2 months ago and they haven't been ordered despite my calling. I think he never wrote them down and forgot. But hey, it's my life right?

Yeah, I'd say there's some room for improvement in the service your getting. But first, you should be thankful you can retire at an early age, not many people (including me) have that option. You obviously made way better choices than I did when I was younger.


I could retire now, but the health insurance question and the income I'll get keep me on the job for now. Inflation and general affordability concerns are not going to be a temporary thing, I believe we are just on the tip of the iceberg of massive cost increases for everything. The heath care industry is facing huge cost increases and that money is going to come from a combination of government, insurance and individuals that can afford to pay. So that means your taxes and insurance premiums will likely rise beyond the percentage of other items and beyond any increases in benefits. When I do retire (I'll be past 65) I'll be on Medicare with my state retirement heathcare as a backup, I'll be in a good place, but its still a matter to be concerned about.
The good news is you have a lot of options, but your individual needs are too complex for the homebrewers here to make a reasonable suggestion about which way to go.
If you haven't seen this yet, it looks like a good resource:
https://gethealthcoverage.org/

 

[redrocker652002]

While I don't have much to offer, I also will be retiring early (60) and am lucky enough that my employer will cover my health insurance until I reach age of Medicare, then I use my employer covered as a supplement. I am wondering if you can request another primary doctor? At 6'04" and 185 that hardly seems obese, or even overweight. I am about 510" and I am at about 220, now that is fat!!!! LOL. Anyway, I would look into maybe getting a new doctor that might be a better suit for you as the guy you have doesn't seem to be doing what you are wanting him to do. My daughter is going to have to use Covered California for a year or two as she has aged out of my plan and is still in school for a year. Talking to some friends they say it isn't a bad deal either. Or, just go look for a plan on your own, but they are a bit costly. I looked into Kaiser and for her the cost was pretty steep, but she is 26 so that might be why it is a bit more. Good luck.