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The Hidden Cost of Retiring Early

From Smartmoney.com: “Too young to qualify for Medicare and rarely covered by their employers, early retirees can face [health insurance] premiums they neither dreamed of nor planned for—often three or more times what they paid while they were working.”

“You basically can’t count on insurance remaining even mildly affordable in individual markets,”says Karen Pollitz, quoted in the article.

As the article points out, “seemingly healthy retirees are frequently surprised to learn they aren’t ‘viable,’” as insurers in the individual market routinely underwrite policies on older people, either denying them outright or charging exceptionally high premiums.

2 Responses to “The Hidden Cost of Retiring Early”

  1. virginia Kuracka Says:

    was denied extention on cobra insurance beyond the 18 months. was this legal, or should I have been offer the 6.5 months of coverage? thank you virginia k.

  2. cheap health insurance plan Says:

    It’s a real shame to get to this stage of life and find out things aren’t what you thought they’d be especially with the current economic climate.

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