Thanks for watching! We understand COBRA can be pricey, but for some, having the option is worth the extra cost. A retirement planner can help you look at all your income sources to see how the decision to retire before Medicare eligibility impacts your overall plan. Then, you can decide if $1600 a month is worth retiring a year and a half earlier than planned. Go to RetireReadyCall.com to schedule a call with one of our retirement planners.
Hi Rob. Thanks for watching. COBRA is an option for some people who want to retire before Medicare eligibility. For some, the additional health care cost at age 63.5 is worth the 18 extra months of retirement. The additional health care cost is not for others, and they choose to work until they are Medicare eligible. We like to ensure people know their options and help them understand how these choices will impact their retirement plan.
Excellent! We limited our retirement withdrawals in order to qualify for Obamacare or ACA and that saved us over $25,000 per year in heath insurance premiums. In Alaska the income threshold to qualify was $89,000 for a couple.
I retired last year at 62. I went with ACA (Obamacare) for health insurance and cobra for Dental. My Dental expires on 1/31/2024 so i need to find good dental insurance at a good rate?
We hope you are using the savings to plan for the retirement of your dreams! Thanks for your comment; we hope it will inspire others to work with a retirement planner to create a plan!
Create a retirement plan that includes an optimized social security election decision, based on all of your retirement planning factors. These factors could include the monthly amount of income that you need plus methods to maximize your other income sources. Your retirement plan may confirm that you taking social security at age 62 is a good idea or it may give you a better strategy. Having a customized retirement plan makes decisions like when to take social security, a much easier decision.
Too simplistic. I'm looking to retire 7/1, go on COBRA for the remainder of 2023 and do Roth Conversions in 2023. 2024 is questionable, stop ROTH Conversions and go on an ACA subsidized plan, or remain on COBRA and fill the 22 or 24% Marginal Tax bucket?
Hi Frugal, Compare your costs savings of using the ACA in 2023 vs what you anticipate saving long term by converting more to your Roth. Which tax bracket you fill will depend on many factors including what tax bracket will you be in long term, even considering RMD age and beyond. If you get a comprehensive retirement plan created, it will give you the specific answers you need.
It's true, COBRA can be pricey. For some, its worth the extra cost. A retirement planner can help you look at all your income sources to learn how retiring before Medicare eligibility can impact your plan. Go to RetireReadyCall.com to schedule a call. Thanks for watching.
Working and paying for health care out of pay check every pay you still have no health care so what's the point of health . You pay out of pocket either way. 😂😂
Hi! Thanks for watching. Taking advantage of COBRA to retire before Medicare eligibility is a good strategy if it makes sense financially and the insurance plan provides you with the coverage you need.
Hi! Thanks for watching. As you know, the cost is based on several factors, including age, whether you smoke, how many people are covered on your plan, the health insurance company, your location, the benefit design, and your household income. It can be a big difference compared to what you are paying under your employer's health care plan.
Within the first three seconds, this smelled like an infomercial.
I disagree... closer to 5 seconds.
So your advice it to plan for post-retirement healthcare using Cobra or spouse's plan? Thanks for nothin'!
Many people have a "physical job" and can't wait till FRA. My husband is one of these people. He has to retire at 62 no matter what.
Cobra is too expensive would cost me $1600.00 p/m
Thanks for watching! We understand COBRA can be pricey, but for some, having the option is worth the extra cost. A retirement planner can help you look at all your income sources to see how the decision to retire before Medicare eligibility impacts your overall plan. Then, you can decide if $1600 a month is worth retiring a year and a half earlier than planned. Go to RetireReadyCall.com to schedule a call with one of our retirement planners.
How the "F" is Cobra affordable insurance?
Hi Rob. Thanks for watching. COBRA is an option for some people who want to retire before Medicare eligibility. For some, the additional health care cost at age 63.5 is worth the 18 extra months of retirement. The additional health care cost is not for others, and they choose to work until they are Medicare eligible. We like to ensure people know their options and help them understand how these choices will impact their retirement plan.
Excellent! We limited our retirement withdrawals in order to qualify for Obamacare or ACA and that saved us over $25,000 per year in heath insurance premiums. In Alaska the income threshold to qualify was $89,000 for a couple.
That’s a lot higher than Maine but I’m also looking at the lower out of pocket. All the best
Congrats! This is the power of a comprehensive retirement plan. Thanks for watching!
Reduce income (but not too much to go on Medicaid) to qualify for Obamacare until you're 65.
I retired last year at 62. I went with ACA (Obamacare) for health insurance and cobra for Dental. My Dental expires on 1/31/2024 so i need to find good dental insurance at a good rate?
what about obamacare? That’s an option.
In their zeal to sell the consultation services they completely missed the boat on mentioning the ACA 😂
they mentioned public options, that's it!
The ACA is shit.
Compared to other nations our elderly get shafted.
Live in Oregon, it’s free!!! And better than Kaiser which Premiums over 10 years, were more than my house cost me 10 years before that!
We hope you are using the savings to plan for the retirement of your dreams! Thanks for your comment; we hope it will inspire others to work with a retirement planner to create a plan!
I want to collect SS at 62, but I don't want a tiny check. Suggestions?
Create a retirement plan that includes an optimized social security election decision, based on all of your retirement planning factors. These factors could include the monthly amount of income that you need plus methods to maximize your other income sources. Your retirement plan may confirm that you taking social security at age 62 is a good idea or it may give you a better strategy. Having a customized retirement plan makes decisions like when to take social security, a much easier decision.
@@MerkleRetirementPlanning My SS statement is all I really need to make this decision.
how old are you?
Too simplistic. I'm looking to retire 7/1, go on COBRA for the remainder of 2023 and do Roth Conversions in 2023. 2024 is questionable, stop ROTH Conversions and go on an ACA subsidized plan, or remain on COBRA and fill the 22 or 24% Marginal Tax bucket?
Hi Frugal,
Compare your costs savings of using the ACA in 2023 vs what you anticipate saving long term by converting more to your Roth. Which tax bracket you fill will depend on many factors including what tax bracket will you be in long term, even considering RMD age and beyond. If you get a comprehensive retirement plan created, it will give you the specific answers you need.
Celebrate at 65? Pfft, medicare isn't that great and you still have monthly premiums. People think Medicare is such a godsend.
yep $175 a month plus dental you have to pay for too!!!!!!!!!!!!!!!!!
Reduce or shelter your income and pay nothing for healthcare.
Nope cobra is still high
It's true, COBRA can be pricey. For some, its worth the extra cost. A retirement planner can help you look at all your income sources to learn how retiring before Medicare eligibility can impact your plan. Go to RetireReadyCall.com to schedule a call. Thanks for watching.
Buy a separate insurance policy until u turn 65 then u automatically apply for Medicare at 65
When you're first in the comments you get free health care as a benny!
I know where I wont go for financial advise!
Merkle Retirement Planning SUCKS
Hi Rob. We are sorry you feel that way, and wish you the best in retirement!
Working and paying for health care out of pay check every pay you still have no health care so what's the point of health . You pay out of pocket either way. 😂😂
Hi! Thanks for watching. Taking advantage of COBRA to retire before Medicare eligibility is a good strategy if it makes sense financially and the insurance plan provides you with the coverage you need.
Obama care is too high $1900 a month for my wife and I.
Hi! Thanks for watching. As you know, the cost is based on several factors, including age, whether you smoke, how many people are covered on your plan, the health insurance company, your location, the benefit design, and your household income. It can be a big difference compared to what you are paying under your employer's health care plan.