Reply
Highlighted
Honored Social Butterfly
0
Kudos
1981
Views

1,981 Views
Message 1 of 16

@GailL1 wrote:

@SusanK466559 wrote:

Does anyone have any insight on what is available for healthcare benefits if you choose to retire at 62 but cannot get medicare until 65?   Please share.   


Yes, you have to find it for those few years.  There are several places which you can look.

 

If you qualify based on your income for a tax credit subsidy (it actually reduces your premiums), you have to look for an ACA policy.  You can find them here; this is called the Federal Exchange for ACA health plans: 

Healthcare.gov - Get 2020 Healthcare Coverage 

Once you put in your zip code, if your state has it's own ACA Exchange, which a few do - the site will give you the place on the web to apply in your state and the plans that are available.  Otherwise you will just stay on the Federal Exchange and it will give you all the plans that are available in your zip code.  You can only get a tax credit subsidy, if you are income eligible, on either the Federal ACA Exchange (Healthcare.gov) or the comparable State ACA Exchange. 

 

The ACA Exchange plans, whether signing up on the Federal or State exchange, have to cover ACA (10) Essential benefits  - it all or nothing.

 

There should be several co-insurance plans available on the Exchange in your zip code; although a few areas only have (1) insurer - each is depicted by a metal name as to the coverage cost sharing - bronze (60/40), silver (70/30), gold (80/20) and platinum (90/10).  The subsidy amount if you qualify is based on the silver plan.

 

Deductibles, co-pays, networks and formularies vary by insurers and their plans listed - so pick the one that meets your needs -

  • health needs 
  • the providers you want to use and
  • your particular meds are covered 
  • pocketbook or financial concerns - including the deductible, co-insurance and copays.

The tax credit subsidy is on a sliding scale - the lower your income, the greater your subsidy.

 

If you are not eligible for a tax credit subsidy to reduce your premium amount because your income is over 400% of the Federal Poverty Level, you can look OFF-the exchange but make sure that you understand the plan fully as to its networks and coverage because off-exchange plans don't have to cover everything in the (10) Essential Benefits.  Some are shortterm plans, like 12 months.

Others are full plans with premiums that vary by the co-insurance %, the size of their network, the deductible amount.

 

There is also some (select) co-ops in various states and also religious based share plans, like MediShare.  They can decline to cover you based on your health; maybe some other things too.

 

Whatever type of plan you decide to pick make sure your read it and understand it.  You can pick another next years in open enrollment if you decide to or your health changes and you need a different one.

 

ACA Open enrollment is now going on but (early) retiring is a qualifying life event which only means that you can sign up when you retire and are too young to go on Medicare and you don't have to wait for the ACA Open Enrollment period.

 

 

 

 


Why did not you tell her to contact an expert in her local area who could supply real advice on what to do and how todo it. Giving a person a lot of articles does no good as they need to understand them, and how to apply them locally. That is why States require a person to be licensed to tell people what and how to do things in this area.

Report Inappropriate Content
0
Kudos
1981
Views
Highlighted
Honored Social Butterfly
0
Kudos
1992
Views

1,992 Views
Message 2 of 16

@SusanK466559 wrote:

Does anyone have any insight on what is available for healthcare benefits if you choose to retire at 62 but cannot get medicare until 65?   Please share.   


Yes, you have to find it for those few years.  There are several places which you can look.

 

If you qualify based on your income for a tax credit subsidy (it actually reduces your premiums), you have to look for an ACA policy.  You can find them here; this is called the Federal Exchange for ACA health plans: 

Healthcare.gov - Get 2020 Healthcare Coverage 

Once you put in your zip code, if your state has it's own ACA Exchange, which a few do - the site will give you the place on the web to apply in your state and the plans that are available.  Otherwise you will just stay on the Federal Exchange and it will give you all the plans that are available in your zip code.  You can only get a tax credit subsidy, if you are income eligible, on either the Federal ACA Exchange (Healthcare.gov) or the comparable State ACA Exchange. 

 

The ACA Exchange plans, whether signing up on the Federal or State exchange, have to cover ACA (10) Essential benefits  - it all or nothing.

 

There should be several co-insurance plans available on the Exchange in your zip code; although a few areas only have (1) insurer - each is depicted by a metal name as to the coverage cost sharing - bronze (60/40), silver (70/30), gold (80/20) and platinum (90/10).  The subsidy amount if you qualify is based on the silver plan.

 

Deductibles, co-pays, networks and formularies vary by insurers and their plans listed - so pick the one that meets your needs -

  • health needs 
  • the providers you want to use and
  • your particular meds are covered 
  • pocketbook or financial concerns - including the deductible, co-insurance and copays.

The tax credit subsidy is on a sliding scale - the lower your income, the greater your subsidy.

 

If you are not eligible for a tax credit subsidy to reduce your premium amount because your income is over 400% of the Federal Poverty Level, you can look OFF-the exchange but make sure that you understand the plan fully as to its networks and coverage because off-exchange plans don't have to cover everything in the (10) Essential Benefits.  Some are shortterm plans, like 12 months.

Others are full plans with premiums that vary by the co-insurance %, the size of their network, the deductible amount.

 

There is also some (select) co-ops in various states and also religious based share plans, like MediShare.  They can decline to cover you based on your health; maybe some other things too.

 

Whatever type of plan you decide to pick make sure your read it and understand it.  You can pick another next years in open enrollment if you decide to or your health changes and you need a different one.

 

ACA Open enrollment is now going on but (early) retiring is a qualifying life event which only means that you can sign up when you retire and are too young to go on Medicare and you don't have to wait for the ACA Open Enrollment period.

 

 

 

 

Report Inappropriate Content
0
Kudos
1992
Views
Highlighted
Trusted Social Butterfly
0
Kudos
2070
Views

2,070 Views
Message 3 of 16

@john258 wrote:

@MsStretch wrote:

@john258 wrote:

@MsStretch wrote:

I think your best bet is to start with the ACA/Obamacare.  Enrollment period is Nov. 1 - Dec. 15.

 

I have a friend, not retired, but works PT, who buys her insurance through her employer.  Just recently, she told me her premiums were going waaay up and she took a look at Obamacare.  She said she found basically the same plan for $400/mo. less!  No brainer on who she is going with.


No it is not a no brainer. There is no way she found  aplan the same for $400.00 less in the same area. The best bet here is she does not understand the fine points of Health Insurance. What usually happens she will learn the fine points at claim time. So do her a big favor and tell her to get some expert local help. She can call her State AARP Office to find out where to go.


Based on her income, she would qualify for a subsidy IF she enrolls through ACA.   All employees at her place of employment pay the same rate for insurance whether they are full-time, part-time, hourly, or salaried and no matter what county they live in.  


What you are saying about her insurance through her employer is that  it is typical group insurance, and the subsidy explains some of it. I would still say to you if she has not talked to a local expert she should. Something sounds strange in the full story.


Yes, exactly.  She pays group insurance rates.  But I can assure you she is **bleep** about researching and thoroughly vetting everything before jumping into anything.  And just because it sounds too good to be true, I am sure she is checking it twice.  Next time I see or talk to her, I will see how she is faring.

Report Inappropriate Content
0
Kudos
2070
Views
Highlighted
Honored Social Butterfly
1
Kudos
2074
Views

2,074 Views
Message 4 of 16

@john258 wrote:

@MsStretch wrote:

@john258 wrote:

@MsStretch wrote:

I think your best bet is to start with the ACA/Obamacare.  Enrollment period is Nov. 1 - Dec. 15.

 

I have a friend, not retired, but works PT, who buys her insurance through her employer.  Just recently, she told me her premiums were going waaay up and she took a look at Obamacare.  She said she found basically the same plan for $400/mo. less!  No brainer on who she is going with.


No it is not a no brainer. There is no way she found  aplan the same for $400.00 less in the same area. The best bet here is she does not understand the fine points of Health Insurance. What usually happens she will learn the fine points at claim time. So do her a big favor and tell her to get some expert local help. She can call her State AARP Office to find out where to go.


Based on her income, she would qualify for a subsidy IF she enrolls through ACA.   All employees at her place of employment pay the same rate for insurance whether they are full-time, part-time, hourly, or salaried and no matter what county they live in.  


What you are saying about her insurance through her employer is that  it is typical group insurance, and the subsidy explains some of it. I would still say to you if she has not talked to a local expert she should. Something sounds strange in the full story.


I know someone well here where I live that was in a very similar situation. Upon going to the exchange they got the same coverage considerably cheaper because they qualified for a subsidy because of their income level. Their part of the policy after their subsidy was cheaper than what they originally had to pay as a co-pay at work. Stands to reason there are more people in the same situation across the country.


Man learns from history that man learns nothing from history.
Report Inappropriate Content
1
Kudos
2074
Views
Highlighted
Honored Social Butterfly
0
Kudos
2084
Views

2,084 Views
Message 5 of 16

@MsStretch wrote:

@john258 wrote:

@MsStretch wrote:

I think your best bet is to start with the ACA/Obamacare.  Enrollment period is Nov. 1 - Dec. 15.

 

I have a friend, not retired, but works PT, who buys her insurance through her employer.  Just recently, she told me her premiums were going waaay up and she took a look at Obamacare.  She said she found basically the same plan for $400/mo. less!  No brainer on who she is going with.


No it is not a no brainer. There is no way she found  aplan the same for $400.00 less in the same area. The best bet here is she does not understand the fine points of Health Insurance. What usually happens she will learn the fine points at claim time. So do her a big favor and tell her to get some expert local help. She can call her State AARP Office to find out where to go.


Based on her income, she would qualify for a subsidy IF she enrolls through ACA.   All employees at her place of employment pay the same rate for insurance whether they are full-time, part-time, hourly, or salaried and no matter what county they live in.  


What you are saying about her insurance through her employer is that  it is typical group insurance, and the subsidy explains some of it. I would still say to you if she has not talked to a local expert she should. Something sounds strange in the full story.

Report Inappropriate Content
0
Kudos
2084
Views
Highlighted
Trusted Social Butterfly
0
Kudos
2123
Views

2,123 Views
Message 6 of 16

@john258 wrote:

@MsStretch wrote:

I think your best bet is to start with the ACA/Obamacare.  Enrollment period is Nov. 1 - Dec. 15.

 

I have a friend, not retired, but works PT, who buys her insurance through her employer.  Just recently, she told me her premiums were going waaay up and she took a look at Obamacare.  She said she found basically the same plan for $400/mo. less!  No brainer on who she is going with.


No it is not a no brainer. There is no way she found  aplan the same for $400.00 less in the same area. The best bet here is she does not understand the fine points of Health Insurance. What usually happens she will learn the fine points at claim time. So do her a big favor and tell her to get some expert local help. She can call her State AARP Office to find out where to go.


Based on her income, she would qualify for a subsidy IF she enrolls through ACA.   All employees at her place of employment pay the same rate for insurance whether they are full-time, part-time, hourly, or salaried and no matter what county they live in.  

Report Inappropriate Content
Tags (3)
0
Kudos
2123
Views
Highlighted
Honored Social Butterfly
0
Kudos
2141
Views

2,141 Views
Message 7 of 16

@MsStretch wrote:

I think your best bet is to start with the ACA/Obamacare.  Enrollment period is Nov. 1 - Dec. 15.

 

I have a friend, not retired, but works PT, who buys her insurance through her employer.  Just recently, she told me her premiums were going waaay up and she took a look at Obamacare.  She said she found basically the same plan for $400/mo. less!  No brainer on who she is going with.


No it is not a no brainer. There is no way she found  aplan the same for $400.00 less in the same area. The best bet here is she does not understand the fine points of Health Insurance. What usually happens she will learn the fine points at claim time. So do her a big favor and tell her to get some expert local help. She can call her State AARP Office to find out where to go.

Report Inappropriate Content
0
Kudos
2141
Views
Highlighted
Trusted Social Butterfly
2
Kudos
2160
Views

2,160 Views
Message 8 of 16

@afisher wrote:

Warning:   The Trump Admin is attempting to hawk some of their "crap" policies as ACA approved, which they are not.   If you go with a plan via ACA, be sure and confirm it is an ACA Compliant plans.  

 

via WAPO:   

Critics say ‘junk plans’ are being pushed on ACA exchanges

The Trump administration has encouraged consumers to use private brokers, who often make more money if they sell the less robust plans.

The Trump administration is encouraging consumers on the Obamacare individual market to seek help from private brokers, who are permitted to sell short-term health plans that critics deride as “junk” because they don’t protect people with preexisting conditions, or cover costly services such as hospital care, in many cases.


Good advice.  I also know of someone who had health insurance through a private insurer, presumably ACA-compliant, and found out a emergency room or subsequent doctor visits were not covered.  Upon closer examination, the policy only covered wellness checks.  READ THE BOTTOM LINE before you purchase.  Of course, private brokers are in it to make money, so buyer beware.

 

Affordable care is just that.  Your premiums are based on what you can afford.  

Report Inappropriate Content
2
Kudos
2160
Views
Highlighted
Honored Social Butterfly
1
Kudos
2172
Views

2,172 Views
Message 9 of 16

Warning:   The Trump Admin is attempting to hawk some of their "crap" policies as ACA approved, which they are not.   If you go with a plan via ACA, be sure and confirm it is an ACA Compliant plans.  

 

via WAPO:   

Critics say ‘junk plans’ are being pushed on ACA exchanges

The Trump administration has encouraged consumers to use private brokers, who often make more money if they sell the less robust plans.

The Trump administration is encouraging consumers on the Obamacare individual market to seek help from private brokers, who are permitted to sell short-term health plans that critics deride as “junk” because they don’t protect people with preexisting conditions, or cover costly services such as hospital care, in many cases.

PRO-LIFE is Affordable Healthcare for ALL .
Report Inappropriate Content
1
Kudos
2172
Views
Highlighted
Trusted Social Butterfly
1
Kudos
2195
Views

2,195 Views
Message 10 of 16

I think your best bet is to start with the ACA/Obamacare.  Enrollment period is Nov. 1 - Dec. 15.

 

I have a friend, not retired, but works PT, who buys her insurance through her employer.  Just recently, she told me her premiums were going waaay up and she took a look at Obamacare.  She said she found basically the same plan for $400/mo. less!  No brainer on who she is going with.

Report Inappropriate Content
1
Kudos
2195
Views
cancel
Showing results for 
Show  only  | Search instead for 
Did you mean: 
Users
Announcements

September is Emergency Preparedness month.

Do you have an emergency plan in place?

Share or ask questions today.

Emergency preparedness kit

Top Authors