KCAL Insurance Agency
Phone: (800) 681-8288 E-mail: info@kcal.net
Health Insurance During Early Retirement
For early retirees, one of your biggest challenges is finding health insurance. If you retire before age 65, you won't yet be eligible for Medicare. If you already have an individual or family health plan, you can maintain the same coverage in retirement. However, if you don't, apply before leaving your previous health plan so that you don't end up with a gap in coverage. If you are in good health, you can still get reasonable premiums. For those with health problems, individual or family health insurance may be unaffordable. Some states offer risk pools that can help you obtain affordable health care coverage, even with a pre-existing condition or poor health. Even when you are eligible for Medicare, you will still need to pay some of your own costs. So participating in a good health insurance plan now will help you preserve some cash for out-of-pocket expenses later on in retirement.
Source:Yahoo News