Health Insurance For Early Retirement - Here Are 4 Options

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  • Опубликовано: 30 сен 2024

Комментарии • 143

  • @whyme5024
    @whyme5024 2 года назад +82

    In the richest country, lots of folks are slaves to their jobs close to golden years just because of HI

    • @afterdark6822
      @afterdark6822 Год назад +2

      That's the point.

    • @Berley_1234
      @Berley_1234 Год назад

      health insurance companies don't give a crap... they are one of the most predatory industries

    • @sophiethewestie
      @sophiethewestie Год назад

      everybody know this, no news here. what's your solution?

    • @spankynater4242
      @spankynater4242 10 месяцев назад +4

      If you enjoy paying super high taxes for universal healthcare, then you shouldn't mind paying super high premiums for your healthcare, eitehr way, you're getting hosed.

  • @Medmann48
    @Medmann48 3 года назад +19

    Listen the Key to using Obamacare is the SUBSIDY. Hoard your Cash & keep your "Reportable" income low enough that you get a sizeable subsidy. Remember if you retire at 62 you only need Obamacare for 3 years so supplement your small reportable income with cash from your savings or money from a Roth IRA that is not taxable as income. As of now Obamacare does not take into account your assets only your income.

    • @doraklein6951
      @doraklein6951 3 года назад +4

      Thank you for sharing this.

    • @DillyPutty
      @DillyPutty 3 года назад +4

      Also cost sharing. If your estimated income is less than 250% of FPL, deductibles for silver plans are substantially reduced. If you understand how subsides and cost sharing are structured, ACA can be very affordable for an early retiree.

    • @PranaWealth
      @PranaWealth  2 года назад

      Just want to make sure that everyone is following our tax laws! 😬 Be sure to hire a CPA!

    • @Scooterp82
      @Scooterp82 2 года назад +1

      What counts as reportable income and what doesn't?

    • @Medmann48
      @Medmann48 2 года назад +1

      @@Scooterp82 Reportable income is anything that is Pre-Tax, a Traditional IRA, a 401K, Social Security income. Money from a Roth IRA, your Savings or Checking Account, Money in A Certificate of Deposit, those things are all after tax money or basically CASH & you can use that to supplement your "Taxable Income" which is what Obamacare looks at. Obamacare does not look at your assets or savings, only your income, your "reportable" income.

  • @jkbc
    @jkbc Год назад +4

    COBRA is a misconception, it is expensive to use cobra cause people dont realize they will have to pay 100%. The HSA is great idea, it's a pretax contribution.

  • @llkg9
    @llkg9 Год назад +4

    It's a Catch-22. I need medical care to stay alive, but I need a W-2 job for high quality affordable medical care, but the job's killing me.
    I'm in my 40's, and I could afford to retire now if not for the health insurance issue.
    An ACA family plan is ridiculously expensive and all but the platinum plans are dog 💩 (high premiums, very high deductibles, very high max OOP, and limited networks that don't cover the halfway decent docs and hospitals in my area). And the platinums are INSANELY expensive and still don't cover many of my needed specialists.
    And I can't build my HSA as I max out contributions and spending every year.
    I think my only hope is to try to find a super easy job (even if super low paying) with good benefits and see if I can survive another 7 years until our kids are all off the plan and my husband (self-employed) qualifies for Medicare. Or 5 years if I pay for COBRA for the last 2 years...

  • @christopherhennessey8991
    @christopherhennessey8991 3 года назад +17

    Finally found a decent deal this year at age 62 . I had health insurance first two years after retiring in 2014 ( am a retired RN).
    Paid $ 663/ month for health insurance the first year and $ 677/ month the following year.They wanted to jack it up to $ 913 /month when I turned 58.I said no,went without for 5 years.In the meantime I was able to get out of debt.Thank God,nothing catastrophic happened to me . This month I was able to obtain some decent health insurance at $ 673/ month ,which includes some supplements to defray some out of pocket costs. Sounds expensive,but trust me in South Florida $ 673/month is a deal. Since my RN pension is now supplemented by Social Security benefits,the premium hit is easier to take. Medicare in two years.

    • @PranaWealth
      @PranaWealth  3 года назад

      Christopher, I'm so glad you finally found something that was (relatively) affordable. So crazy that costs have gone up so much over the years. Thank God you didn't need it during those years you didn't have it!

    • @christopherhennessey8991
      @christopherhennessey8991 3 года назад +4

      @@PranaWealth I consider myself lucky that I’ve stayed healthy.

    • @12vLife
      @12vLife Год назад +1

      Hello. I know this is not an option for everybody, and maybe I'm missing something here, but if people have enough savings to retire early, why are they not structuring passive income to be just enough to meet ACA subsidies? ACA does look at savings or assets right? Is "retired" some formal classification if you are managing a few rental properties?

    • @Berley_1234
      @Berley_1234 Год назад +1

      i've gone without health insurance x 20 years now knock on wood, saving me over a hundred twenty grand

    • @mm669
      @mm669 Год назад +3

      I'm going through similar nightmare. I was laid off this year at 60, and surprise, surprise, facing a lot of age discrimination trying to get a similar position. Cobra was $808 a month. Just downgraded to CoveredCa but heaven forbid if I have to go into the hospital or have an emergency since it only covers %30. No wonder there are so many homeless.

  • @jessefletcher9116
    @jessefletcher9116 2 года назад +7

    I retired USAFR and recently found out that when I begin drawing retirement pay at age 60 that I am eligible to enroll in Tricare Prime or Tricare Select for a premium of only $54/month, and at age 65 when I enroll in Medicare that Tricare will automatically convert to Tricare for Life which acts as a substitute for the Medigap or Medicare Advantage supplements and that Tricare coverage costs $0/month.

    • @PranaWealth
      @PranaWealth  2 года назад +2

      Tricare is a great deal, Jesse! Thank you for your service! 🙏🇺🇸

  • @deepsea5107
    @deepsea5107 2 года назад +9

    For the military veterans out there: you might be surprised to learn that you possibly are eligible for health care through the Veterans Administration. A call to your local VA office, or visiting the VA website, will help determine your eligibility.

    • @PranaWealth
      @PranaWealth  2 года назад +7

      Yes! @Deepsea5 -- thanks for mentioning this! Many thanks to all our veterans! 🙏🇺🇸

  • @inquirer1016
    @inquirer1016 2 года назад +6

    Cobra is a big rip off. There's no valid reason for premium to be so high.

    • @8AUGS
      @8AUGS 2 года назад

      @Inquirer 101. A big rip off for sure. No reason for the high cost, especially when one has no income. I'm researching this ACA subsidy qualification b/c I need coverage. Missy commented above that they pay less than $1000/year by keeping gross income lower than $89,000/year in Alaska.

    • @DaveBroTube
      @DaveBroTube 2 года назад +1

      COBRA is not a ripoff - it's simply a law that says that when you leave a job, your old employer has to offer you the health insurance you had while employed. When you use COBRA, you're paying the full price of insurance that your employer was paying (plus a small service fee, as Patrick mentioned). COBRA premiums are expensive because *health insurance* is expensive in this country - it has nothing to do with COBRA. If you want health insurance to be cheaper, like it is in most other countries, you have to change the for-profit system.

    • @sct4040
      @sct4040 Год назад

      @@DaveBroTube I believe Agus is referring to the Cobra premium, not the law. Most people just calls it Cobra, and it is expensive. I pay $1,220 per month.

    • @DaveBroTube
      @DaveBroTube Год назад

      @@sct4040 sure, buts it’s not “Cobra” that’s expensive; it’s health insurance in general that is expensive in this country. With Cobra, you’re just exposed to the true cost that your employer was paying for your insurance. Don’t blame Cobra, which is a useful law. Blame the health care system in the US, where we pay much more than in other rich countries, for no better outcomes.

  • @etcomehome39
    @etcomehome39 Год назад +4

    I just learned that short-term health insurance can last up to 3 years in some states so it's another option for early retirees.

  • @sumitomoO0O
    @sumitomoO0O Год назад +1

    Each option is worse than the other....Anybody not living in USA wonders why americans couldnt figure out the free universal health care available in the rest of the world, ohh I know why. Americans are brainwashed that free healthcare is a terrible idea by the insurance lobby at DC. . Even when your country offers free healthcare there are private hospitals too, so yes rich people would still get pampered. Free health insurance is more effocient because you eliminate all the middle man known as insurance companies and all associated paper work. Plus government can balance health budget much easier than single individuals because of a statistical law known as "Law of Large Numbers"

  • @RetrieverTrainingAlone
    @RetrieverTrainingAlone 2 года назад +14

    I retired at 62 and we reduced our gross income to stay under the threshold for Obamacare subsidy. Blue Cross Gold policy for less than $1,000 per year. The same policy if unsubsidized would cost over $27,000 per year. Since we live in Alaska the gross income threshold is $89k. We can get treatment in Seattle, WA so that is nice also.

    • @PranaWealth
      @PranaWealth  2 года назад

      Great job Missy!

    • @Dividendsmattertoo
      @Dividendsmattertoo 2 года назад +1

      So smart question my mom wants to retire at 60 does the gross income include only her salary or my dads too they are married

    • @PranaWealth
      @PranaWealth  2 года назад +1

      @S P -- It may depend on if they file together or separately. You'll have to check with a CPA on that. However, my guess is that, if they file jointly, it would be their gross income.

    • @FrugalTeacherFI
      @FrugalTeacherFI 2 года назад

      How much is the gross income limit for ACA?

    • @PranaWealth
      @PranaWealth  2 года назад

      Bennjamin -- I think it depends on a lot of things. Here's a link to a quick calculator:
      www.healthinsurance.org/obamacare/subsidy-calculator/

  • @rlhaff3560
    @rlhaff3560 Год назад +1

    Obamacare plans are no more expensive than any other GOOD plan available... this is a common mistake, kinda surprised you don't seem to be aware. The ACA is for those who have lower incomes, so most get a VERY good discount and end up spending very little on a plan, or a low fair price compared to other good plans outside the marketplace.

  • @tracysiddall6016
    @tracysiddall6016 2 года назад +2

    If one spouse provides medical insurance for the family and retires at age 66, can the other unemployed spouse apply for COBRA?

    • @PranaWealth
      @PranaWealth  2 года назад +2

      Yes! The unemployed spouse in this case would be able to continue with their health insurance through COBRA. Great question! 🙌

  • @doraklein6951
    @doraklein6951 3 года назад +6

    Great advice , thanks!

    • @PranaWealth
      @PranaWealth  3 года назад

      Thanks for the kind words, Dora!

  • @chadsimpson9757
    @chadsimpson9757 Год назад +2

    How about semi-retirement? Retire from your regular full-time job if you can and get a part time job somewhere that provides full benefits. That way you can supplement health insurance and add a little supplemental income until you become eligible for Medicare

    • @tamiz8895
      @tamiz8895 Год назад +1

      That’s what I’d like to do

    • @briancox3776
      @briancox3776 Год назад +2

      Not to many part time jobs that pay full benefits.

    • @chadsimpson9757
      @chadsimpson9757 Год назад

      @@briancox3776 UPS, Walmart, Lowe’s, etc

  • @12vLife
    @12vLife Год назад +2

    Can HSA funds be used to pay ACA premiums too?

  • @edrodgers4581
    @edrodgers4581 2 года назад +2

    Socialized medicine starts in the US at 65. Do not retire early!!

    • @PranaWealth
      @PranaWealth  2 года назад

      Had to reach way back into the past for this one:
      ruclips.net/video/oFQ1zMezxrs/видео.html

  • @JohnFijak
    @JohnFijak 2 года назад +6

    great content Patrick! What are your thoughts on spending 90% of your time in other, cost effective countries in early retirement to manage healthcare costs between 60 ish - 65? Any inputs as to why it is or isn't the right way? For example, there are global healthcare plans for roughly $4.5k annually for a couple 59&60, with some options to add some US coverage(typically 15 or 20 days per year and only major medical)...

    • @jadexplores2100
      @jadexplores2100 2 года назад

      I am considering doing this. Would love to hear his thoughts on this as well.

    • @12vLife
      @12vLife Год назад

      Also very interested in hearing about this. The math on selling the house and cars and moving to a walkable city in Mexico, Spain or Portugal seems very good.

    • @johngallardo220
      @johngallardo220 Год назад

      Non of those options are useful

  • @huyton33
    @huyton33 2 года назад +3

    Excellent information...thank you!!

    • @PranaWealth
      @PranaWealth  2 года назад

      Glad it was helpful, Ron! Thank you for watching and thanks for the kind words! 🙏

  • @thecapablecook
    @thecapablecook 2 года назад +7

    Just a reminder to lookup HSA eligibility BEFORE signing up for your insurance plan, because there are out-of-pocket max limits that need adhered to, as well as the minimum deductible amounts. :)

    • @PranaWealth
      @PranaWealth  2 года назад +1

      Great point, Lora! It's that time of year, right?

  • @cattygirl218
    @cattygirl218 3 года назад +3

    If I retire early, doesn't my income go to zero? So wouldn't that affect the price of insurance?

    • @PranaWealth
      @PranaWealth  3 года назад +2

      Tracy, this is a FANTASTIC comment. You're right -- assuming that things don't change between now and retirement, you could potentially qualify for tax subsidies on health insurance policies through the ACA Marketplace. Of course, this may be affected by IRA withdrawals, Roth conversions, etc., so you'll want to confirm with your CPA. I'm not 100% certain, but I believe that you don't have to rely upon prior tax returns being factored into those ACA subsidies.

    • @cattygirl218
      @cattygirl218 3 года назад +9

      @@PranaWealth Thanks much for replying. I'm turning 59 this year and am very anxious to stop working but it is a very long way to 65 and Medicare considering insurance costs. It's a real shame. If I don't figure out a way to pay for it, I'm tethered to a job that is just draining me. Thanks again.

    • @PranaWealth
      @PranaWealth  3 года назад +1

      Good luck, Tracy! I know what it's like to work somewhere that sucks your energy, so I hope you can make it work!

    • @christopherhennessey8991
      @christopherhennessey8991 3 года назад +3

      @@PranaWealth I agree.Had my “ moment of clarity “ ( I’m Irish)as an RN in Trauma ICU one day ,after a doctor ticked me off. Put in my papers ,retired,called out the last two weeks .Received all my monies due:pension,vacation,sick,comp time,extended illness,and pretax 457 B money. Glad I left,it saved my life.Got myself healthy.Have been receiving my pension since 2014, and claimed Social Security benefits at 62 last year. I was informed that I was missed by former coworkers.It’s important to know when it’s time to leave as 4 former coworkers died over the last 2 years. I realize I digressed,sorry. The first year post retirement at age 55, my monthly premium was & 663/ month which rose to $ 677/ month. They wanted to jack it up to $ 913/month when I turned 58.Went without health insurance for 5 yrs and am fortunate nothing catastrophic happened to me. However ,I used that money saved to get out of debt. I finally obtained a decent premium price for $ 673/month ,after turning 62 and claiming Social Security. So it’s a bit of a hit,but easier to withstand.

    • @8AUGS
      @8AUGS 2 года назад

      @@christopherhennessey8991 Good for you. I'm also an ICU RN. At 60 and over 30years in nursing, I left last week after medical restriction for Spinal injury. I wish I hadn't delayed seeking medical attention for progressive back pain. I also lost 2 colleagues last year. I should have left when I was punished for calling in sick with covid, and scheduled to make up the weekend I was sick. I was miffed and told them how inhumane their actions were, especially after we lost 2 members the weekend I was sick. I'm still traumatized by the whole situation and teary as I'm writing this.
      My biggest concern now apart from my back, is the Healthcare Insurance coverage. I've been looking to fleeing to any country outside the US b/c of the Healthcare cost. It is a shame that in this "great" country, one serious mishap or illness can deplete ones savings. I might have to move to Alaska, as Missy above mentioned that they pay under $1000/year under Blue Cross Gold subsidy, by keeping their Gross income threshold under $89K. I have some savings, 401k, and brokerage accounts which have taken a big hit these past weeks( down over $30K). I can't afford out of pocket Healthcare coverage if I were to stop working until SS and Medicare kick in. I'm looking into another career, like Coding, which I can do remotely until I retire and go on Medicare.

  • @suespony
    @suespony Год назад +1

    Seems like it would be cheaper to just get on Obama care rather than using a cobra

    • @2magma.command
      @2magma.command Год назад +2

      right. and it was a lot cheaper until trump ruined it .

  • @blushingangelswhimsy710
    @blushingangelswhimsy710 7 месяцев назад

    Be careful w/the HSA info this gentleman references, my HSA account was closed and not accessible, the last date of my employment. Thankfully, I knew this would happened and I used all but $107 of my HSA, prior to my last date of employment, at which time, I could no longer access the HSA/funds. Not all company's HSA's work the same, ensure you understand what happens to your HSA funds, when you no longer work there.

  • @naturepreservelife
    @naturepreservelife 2 года назад +1

    If you have ample post taxed savings to live off of, isn't there effectively a better fifth option after age 55 and that is Medicaid?

    • @llkg9
      @llkg9 Год назад

      Assets are factored into Medicaid eligibility, so any meaningful savings, investments, etc, would disqualify you.
      Oh, and Medicaid coverage is AWFUL! Most halfway decent docs don't accept it. The ones that do are overwhelmed with patients and tend to be not very good.
      And the plans are very restrictive in what they cover. Eg, where I used to live, the Medicaid dental plan only paid for extraction of teeth with cavities. Meaning, if you had a tiny cavity, they wouldn't fill it; they'd PULL OUT THE ENTIRE TOOTH!

  • @amerlin388
    @amerlin388 8 месяцев назад

    I didn't find any ACA plans available to me which would cover most of Victoza cost. I ended up with a (crappy imo) 'Gold' UHC plan for a bit over $1200 a month for just me, but it covers $700 of the monthly Victoza cost. Guess I'll take sizable IRA distribution this year and check again next fall (for option to keep income low next year to qualify for ACA).

  • @iloveatish
    @iloveatish Год назад +1

    Cobra is a really bad idea

  • @AsusMemopad-us5lk
    @AsusMemopad-us5lk Год назад

    "Health Cost Sharing Ministries" is a word I am not hearing here. They may sound religious, and they may not be easy to find, but they are one of the most efficient healthcare funding mechanisms available in the US.

  • @harrycarson2119
    @harrycarson2119 8 месяцев назад

    WITH MY INSURANCE AT MY JOB CAN I USE THE SPENDING ACCOUNT TO PAY FOR MY COBRA WHEN I START WORKING PART TIME ONLY ? THANK YOU FOR THE INFORMATION IN YOUR VIDEO GOD BLESS YOU AND FAMILY 🙏

  • @mobilemoke
    @mobilemoke Год назад +2

    Excellent video 👍👍

  • @sophiethewestie
    @sophiethewestie Год назад

    Is there a way to contribute more for HSA beyond the catch-up option? Can both spouses contribute to it if only one spouse is carrying health insurance for the entire family?

  • @TheRealAbrahamLincoln
    @TheRealAbrahamLincoln 2 года назад +1

    Obamacare is MUCH cheaper than the group insurance plan I am currently on and has better coverage. I plan to retire at 50 or so depending on how the market performs and the ACA is part of my plan. By weighting my early retirement funds to come from taxable accounts, I lower my income and qualify for nice subsidies.

    • @PranaWealth
      @PranaWealth  2 года назад

      That's awesome that you've had success with an ACA plan. Lowering your taxable income will certainly help with the premium subsidies.

    • @dennistyler8746
      @dennistyler8746 2 года назад +2

      @@PranaWealth I think $36,000 is max to qualify for "affordable" Obama care. So in essence, you retire somewhat poor and that's for 2 people. Insurance is cheap at the income but other expenses better be too. All the best...

    • @8AUGS
      @8AUGS 2 года назад

      @@dennistyler8746 Someone says that it is doable, i.e. if you have a substantial cash savings which will supplement that $36K max, and hopefully last until SS and Medicare kick in. I am "newly and early" retired, and looking into this Healthcare "Headache" Insurance issue.

  • @henrythomas7112
    @henrythomas7112 Год назад

    Your videos are very useful and provide lots of information. I have received lots of help after watching this post, please continue to share this kind of information. Thank you.

  • @lynwill9946
    @lynwill9946 Год назад

    Great news. I will contribute more money to HSA. Thank you

  • @fourhillsfarm
    @fourhillsfarm 2 года назад

    My cobra payment was about 55% of the full self payment I had been making before I was forced out of my plan.

  • @harryp1665
    @harryp1665 2 года назад +1

    Very good information and my largest concern as to sorting through coverage as I want to make certain I’m covered before leaving the work force.

    • @PranaWealth
      @PranaWealth  2 года назад

      Thanks, @Harry P -- have you made your decision yet? Unfortunately, this health insurance thing has become a big-ticket item...

    • @harryp1665
      @harryp1665 2 года назад +1

      @@PranaWealth no, I actually have 27 months before I decide if I will leave the work force. I thought just before then I will look into coverage and cost before I stop working. I don’t want to be in a situation where I would have to go back to work. I would rather delay retirement to make certain of financial freedom over 30 - 35 years of retirement.

    • @PranaWealth
      @PranaWealth  2 года назад

      Sounds good, Harry. Best to be cautious, for sure. Good luck!

  • @biggfoot52
    @biggfoot52 Год назад

    Help, here is my situation, household of 2, only 1 income =90k, current employer sponsored insurance =800 per month with both in household. How can I remove one person from company insurance that will reduce monthly to 160 and get separate insurance for other household member.

    • @PranaWealth
      @PranaWealth  Год назад

      Brian, I wish I knew. If you have group insurance through work and can keep your spouse on that, then that's likely your least expensive option. Being self-employed, I can tell you that the marketplace is way more expensive. Maybe look up an insurance broker to help you walk through your choices.

  • @edmhie1
    @edmhie1 2 года назад +1

    Very good information Sir........thank you!

    • @PranaWealth
      @PranaWealth  2 года назад

      Thank you for watching and for the great feedback! 🙏

  • @jimfarmer7811
    @jimfarmer7811 2 года назад +4

    I'm glad you really stressed the importance of the HSA accounts. It's especially valuable for people on Obamacare because withdrawals from HSAs to cover medical expenses doesn't affect you subsidies and contributions to HSAs will reduce the income that is used to calculate your subsidies.

    • @PranaWealth
      @PranaWealth  2 года назад

      Thanks Jim! 🙏 Not everyone has access to an HSA plan, but they do present a great opportunity!

  • @johngallardo220
    @johngallardo220 Год назад

    I thought I was going to hear some useful options 😢

  • @calonstanni
    @calonstanni Год назад

    I wonder how much the bronze plan ACA would be.

  • @isthisforreal8539
    @isthisforreal8539 2 года назад

    Where are the links you said would be shown??

  • @videosmithlaguna
    @videosmithlaguna 2 года назад

    I pay 2500 a month after 32 years working. Gov gives me 500 towards premium but its a disgusting amount of premiums and i hate it. I cover me, my wife and my 21 year daughter. When i reach Medicare age I can use 50 percent of the 500 to pay towards medicare so its worth holding on. If it was me I would not have health insurance i would just pay cash.

    • @PranaWealth
      @PranaWealth  2 года назад +1

      That's certainly an option, Robert. The potential unlimited out-of-pocket would be too much for some people to risk. It's crazy that it's all gotten this expensive.

    • @chessdad182
      @chessdad182 2 года назад +1

      @@PranaWealth I had a consultant co-worker who decided not to have health insurance. Then one day he had chest pains and went to the doctor.... OUCH!

  • @elevatewellnessHQ
    @elevatewellnessHQ Год назад

    how much?

  • @sarnia96
    @sarnia96 3 года назад +4

    Good advice! Thanks.

  • @nx6677
    @nx6677 2 года назад +2

    One Question please : for early retirement, having or no the health insurance is a personal choice, I understood that BUT, is there a Medicare PENALTY for not having health insurance ? So if a retire at 60, and do not buy any health insurance to 65, will be there a lifetime medicare penalty ?

    • @PranaWealth
      @PranaWealth  2 года назад +1

      @NX -- great question. I don't believe there's a Medicare-related penalty for not having health insurance prior to age 65. The only penalties are involved with applying late. I made a follow-up video that I hope will be helpful there:
      ruclips.net/video/eXVKkECU1e4/видео.html

    • @soongpark683
      @soongpark683 2 года назад

      i am retire 62 and live out side usa so i am not buy any health insurance but OPM enrolled plan and charge me i phone call lot 6-7 month ask and form 79-9 cancel but still charge me

    • @sophiethewestie
      @sophiethewestie Год назад

      i would not recommend going without health insurance unless you have a crystal ball.

  • @jacobchandter3434
    @jacobchandter3434 2 года назад

    very good info

    • @PranaWealth
      @PranaWealth  2 года назад

      Glad you think so, @Jacob Chandter ! 🙏

  • @mikeryan4651
    @mikeryan4651 2 года назад

    Loved this video through

    • @PranaWealth
      @PranaWealth  2 года назад

      Thank you, Mike! I appreciate the kind words. Thanks for watching! 🙏

  • @robertsmith6408
    @robertsmith6408 2 года назад +1

    Well none of these work for me. 32 years in law enforcement and got great pension, but very expensive health insurance. County give me 600 a month to pay for insurance, but the plans are super expensive. My plan for a family is 2400 a month with a 6000 deduction. Tried Obamacare but I make to much on my pension. Cobra was more then the plans and I would not get the 600 a month if I used Cobra. I do use an HSA to pay for medical stuff and write all the premiums off at end of year so its not so painful. Only choice till 65 is for me to get a job with benefits or just go without medical and use free clinic down the street. Aint America grand!

    • @jadexplores2100
      @jadexplores2100 2 года назад +1

      This is exactly why I am trying to figure out if moving abroad is the better option for me between ages 55-64.

    • @leehamilton4459
      @leehamilton4459 Год назад

      same. Retired at 55 and health insurance was covered for two years. Now I have to pay it myself and its 1500 per month for hubby and me. That is too much. I canceled it and am now looking for a full-time job that offers health insurance. Geez, retirement was short.

    • @robertsmith6408
      @robertsmith6408 Год назад

      @@leehamilton4459 me too! I am so happy being retired that the thought of working makes me depressed. I keep trying for six figures jobs, which i can do but may have to settle for a simple job but no point unless it has medical benefits. I take good care of myself so i look about 40 and i am 62. When they see my resume that i graduated college in 1984 the interview ends fast. Ageism is alive and well in the US! We do have some good news, the county may move the retirees back into the employee pool in 24, so it may go down some and once 65 on Medicare I wont pay anything because county pays my part B and supplemental.

  • @kathya1956
    @kathya1956 Год назад

    Why would I pay triple or quadruple premium cost after retirement trough cobra?

  • @johngallardo220
    @johngallardo220 Год назад

    COBRA. Yikes!

  • @trumpisaconfirmedcuck5840
    @trumpisaconfirmedcuck5840 2 года назад

    My option: dual citizenship and moving to Germany. I'd move now but since I'm not a native German speaker I'd have a hard time finding a well paying job.