Interesting About Health Insurance
By Jim Bauer
@porwest (112864)
United States
September 19, 2020 8:38am CST
I have been doing a bit of research recently as I have been exploring early retirement. One of the most important things to consider, of course, is health insurance. Something we currently get through an employer plan.
If we were to retire early, we would still need health insurance of course.
I have always placed the number somewhere around $20,000-$25,000 per year. But I am finding that the average is more around $15,000 per year.
That is still a significant amount of money to be sure. But it does give me an opportunity to crunch the numbers a little bit differently as I work out some of the details.
Do any of you have private health insurance? If so, I'd be interested to know what your costs look like.
We have 12-18 years before either of us are eligible for Medicare.
4 people like this
5 responses
@piyushbhatia1 (11695)
• India
19 Sep 20
I want the insurer to tell me no one is going to die of corona
1 person likes this
I know
@GardenGerty (169516)
• United States
19 Sep 20
My brother and his wife have both retired from the state of Oklahoma. They had the option to continue their state insurance and have. He says it costs them about $1500 per month.He will be Medicare eligible in two years. I think for her it is seven years. Insurance sure skyrocketed when the ACA came in in my experience.
1 person likes this
@LindaOHio (222623)
• United States
19 Sep 20
A lot can change in 12-18 years. Long story but I retired on disability in 2010. Because of a set of circumstances I could not get COBRA and had to apply for private insurance. (I had to wait 2 years to get on Medicare). During that time I paid about $500 per month for just myself. Right after I got on Medicare it was raised to $600 per month. At that time that was a lot for us. I would say health insurance will be your biggest concern when you retire early. Good luck.
