Monday, July 25, 2011

Are there any (non-employer) health insurance options for early retirees?

My husband and I would love to plan for early retirement in a few years - the one obstacle seems to be health insurance. Neither of our employers provide health insurance after leaving the job (no matter when.) We will be in our late 50's (in a few years when we would like to retire) and have one 10yo child - could relocate if necessary after retirement. From what I've been reading it looks like family heath insurance costs are over $1000 per month! Any advice or direction is greatly appreciated!!
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Depending upon your health status and location you should be able to get a good comprehensive policy for less than $1000 per month. AARP writes their health insurance through United Health, which is a very good company and certainly worth a look. However, the policies have fewer benefits than most and the premium is nearly the same. You should visit a local independent agent. This person knows the market in your area and can compare the different plans (AARP included) and can suggest several plans that would be best for your situation. Medicare is not available until you reach 65 unless you've been disabled for 2 years.
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