Many retirees are wondering how they can maintain a healthcare plan up until their Medicare coverage kicks in. For most individuals who have recently retired, their COBRA benefits should cover them for up to 18 months after they officially retire. Unfortunately, you will still have to pay the full premium which can sometimes be difficult under retirement income. This option is mostly ideal for those who just have a small time period before their Medicare benefits are enacted.
- If retiring before age 65, most employees can maintain their health insurance under COBRA for up to 18 months.
- Some retirees can purchase health insurance through their state exchanges, which cannot deny you due to pre-existing conditions.
- With health sharing ministries, members pay a monthly premium that is a contribution toward paying other members’ medical bills.
“The policies can be pricey, but insurers can’t deny you coverage or charge you more because you have a pre-existing condition.”