Join Early Retirement Today
Thread Tools Search this Thread Display Modes
Private health insurance
Old 07-17-2013, 08:09 AM   #1
Confused about dryer sheets
Join Date: Jul 2013
Location: Lakeland
Posts: 1
Private health insurance

I will soon be 61...I am thinking about retiring early at 62...My biggest concern will be the cost of private health insurance..Anyone who has gone thru retiring at 62....cost of a good plan (individual)..thanks..

Patriots1952 is offline   Reply With Quote
Join the #1 Early Retirement and Financial Independence Forum Today - It's Totally Free!

Are you planning to be financially independent as early as possible so you can live life on your own terms? Discuss successful investing strategies, asset allocation models, tax strategies and other related topics in our online forum community. Our members range from young folks just starting their journey to financial independence, military retirees and even multimillionaires. No matter where you fit in you'll find that is a great community to join. Best of all it's totally FREE!

You are currently viewing our boards as a guest so you have limited access to our community. Please take the time to register and you will gain a lot of great new features including; the ability to participate in discussions, network with our members, see fewer ads, upload photographs, create a retirement blog, send private messages and so much, much more!

Old 07-17-2013, 08:34 AM   #2
Thinks s/he gets paid by the post
Join Date: Apr 2013
Posts: 3,924
I retired at 56 (this year), my plan is to use COBRA to stay on Megacorps plan until first of year.

I'm counting on ACA to be there, unfortunately I live in a state thst is not building an exchange, and have to wait for the federal exchange. Looking at a couple of state exchanges, I'm hopefull my costs will come down from COBRA.


MRG is online now   Reply With Quote
Old 07-17-2013, 08:38 AM   #3
Thinks s/he gets paid by the post
bUU's Avatar
Join Date: Dec 2012
Location: Georgia
Posts: 1,708
You're in a tough situation because no one has any relevant personal experience for you, because the nature of getting private insurance for those years between FIRE and Medicare eligibility is changing effectively January 1.

Having said that, you may find this calculator useful:

Subsidy Calculator | The Henry J. Kaiser Family Foundation

I entered an arbitrarily high income amount and found a 62 year old non-smoker can get a Silver plan for $8,671 in 2014. A Bronze plan would be a bit less. A Gold plan a bit more.
bUU is offline   Reply With Quote
Old 07-17-2013, 09:44 AM   #4
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
pb4uski's Avatar
Join Date: Nov 2010
Location: Vermont & Sarasota, FL
Posts: 13,205
I retired about 18 months ago at age 56.

I had initially planed to use COBRA for our HDHI but I found small group health insurance rates were better so I formed an LLC for any consulting work that I might do and the LLC joined our local chamber of commerce and enrolled in their small group HI plan. It turned out to be ~20% lower than individual rates and ~35% less than COBRA.

Since you'll be retiring after 1/1/14 you can buy individual health insurance coverage on the Obamacare exchanges (assuming that they pull it off).
If something cannot endure laughter.... it cannot endure.
Patience is the art of concealing your impatience.
pb4uski is online now   Reply With Quote

Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
Thread Tools Search this Thread
Search this Thread:

Advanced Search
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


All times are GMT -6. The time now is 04:34 PM.
Powered by vBulletin® Version 3.8.8 Beta 1
Copyright ©2000 - 2016, vBulletin Solutions, Inc.