- May 24, 2024
- Posted by: legaleseblogger
- Category: Related News
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# Concerns about Health Insurance for Someone with Retirement Savings
Hey everyone,
I am extremely grateful that my Dad has a substantial pension to support him during his retirement years. However, despite this, I find myself feeling uncertain about his health insurance coverage. As he approaches retirement age, I have been wondering about the options available to individuals who have limited or no retirement savings when it comes to obtaining health insurance before they turn 65.
One common solution that comes to mind is working part-time jobs that offer health insurance benefits. This could potentially be a way for individuals without retirement savings to secure healthcare coverage. However, I am concerned about the affordability of deductibles in such cases. What happens if someone can’t afford the deductibles, even with a part-time job? Given my Dad’s tendency to struggle with managing expenses, I worry that he may not be able to afford yearly deductibles even if he were to take on a part-time job.
This uncertainty has been weighing on my mind, and I would greatly appreciate any insights or advice on how to navigate this situation.
Thank you for your help in advance!
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Overall, the AI Legalese Decoder offers a valuable resource for individuals who may be overwhelmed by the complexities of health insurance policies, allowing them to navigate the system more effectively and make informed choices regarding their healthcare coverage.
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****** just grabbed a
The last 10+ years the ACA has made finding insurance easier than ever. Go to [healthcare.gov](https://healthcare.gov) and see what his options are.
Talk with his company. If they have a pension they also likely offer health insurance as part of the retirement package.
My pension plan with the state has options for healthcare before 65. It’s more expensive than what I‘m paying now, but most likely less expensive than ACA? Check with the pension administrators if you haven’t already.
https://www.healthcare.gov/
https://www.healthcare.gov/coverage-outside-open-enrollment/special-enrollment-period/
https://www.healthcare.gov/retirees/
If he has no savings why is he retiring pre 65? Unless there is a health issue doesn’t sound like frankly he’s earned the ability to retire. I’d be concerned about this first and foremost.
[deleted]
You can check about how much health insurance will cost on the ACA plan using this calculator. Note that the cost is very state dependent, so it might be worth moving too.
https://www.kff.org/interactive/subsidy-calculator/
Pepper with no retirement savings usually don’t retire because they can’t afford to…
Will your dad have social security too?