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  • 05-25-2016, 02:44 PM
    alf

    Retirement insurance scams

    Health insurance considerations weigh heavily on the
    minds of people wanting to retire before Medicare
    coverage kicks in at age 65. Many people put off
    retirement simply because the cost of an individual
    health insurance policy is too great on a limited
    income.

    What options for health insurance do you have if you
    choose to retire before age 65? Although they are not
    required to, you may be able to get COBRA-like
    coverage from your employer.

    As an added retirement benefit, your employer may
    allow you to pick up the premium on your policy;
    although paying 100% of your premium may initially
    appear to be an expensive option, purchasing an
    individual policy apart from a group may be even more
    costly and not provide you with the level of coverage
    you previously had.

    Some companies are offering basic high-deductible
    insurance reasonably in the hopes that they will be
    able to enroll you in Medicare Part C (supplemental
    insurance) when you retire.

    Another option is to budget and save money to cover
    your anticipated medical costs for the time period
    between retirement and age 65. If you are in very good
    health, this may be a viable alternative for you.

    Pre-planning for retirement is an important issue; the
    earlier you start planning, the better. Realizing the
    Medicare does not pay all of your medical expenses,
    you should budget money for medical expenses even
    after retirement.

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