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Is this you?
If it is, congratulations!
The old standby that people retire when they turn 65 years of age no longer holds true.
You canwork and collect Social Security benefitsthough you need to know the government guidelines so you don’t get yourself into trouble.
What is the problem then?
The problem is when you quit working, you gave up health benefits from your employer.
Finding health insurance for early retirees is job No.
Consider yourself lucky if this is the case.
They may have been depending on you for their own health insurance needs.
Our team has compiled alist of creative waysyou can fatten your bank account this week.
This is a long list, so dont get overwhelmed.
Well keep it updated as offers changes or expire.
Another option is to extend your employers insurance benefits through COBRA for 18 months, although that is expensive.
More on that is in the COBRA section below.
It will take some work by you to figure out the best option for you and your wallet.
The following information about each option can point you in the right direction.
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1.
Dont Retire Completely
Retire means different things to different people.
You may be interested in accepting a part-time job that offers benefits that include medical insurance.
Do such jobs exist?
The answer is yes.
We found seven places, including the federal government, that offerbenefits to people who work part time.
Costco and United Parcel Service are among the largest places that offer health insurance coverage to part-time employees.
Get Private Health Insurance Coverage
You certainly can get health insurance through private insurers on your own.
A short-term health insurance policy can provide that kind of coverage to benefit your mental health and reduce anxiety.
There is one advantage and two disadvantages to COBRA coverage.
COBRA starts immediately upon accepted signup.
If you sign up by Dec. 15, your coverage usually begins Jan. 1.
There are four tiers of coverage under the ACA Bronze, Silver, Gold and Platinum.
Hereis an easy to use marketplace cost calculator.
TheACA websiteprovides chat capabilities for anyone with questions about acquiring health insurance through the federal marketplace.
Basically, the more you pay in premiums means the more insurance covers when you have a medical cost.
The Platinum monthly premium will be much higher than the Bronze monthly premium.
The poverty level for the 48 contiguous U.S. states is $26,500.
The poverty levels for Alaska and Hawaii are slightly different.
The full retirement age is 66 if you were born from 1943 to 1954.
The full retirement age increases gradually if you were born from 1955 to 1960, until it reaches 67.
For anyone born 1960 or later, full retirement benefits are payable at age 67.
Kent McDill is a veteran journalist who has specialized in personal finance topics since 2013.
He is a contributor to The Penny Hoarder.
It sounds appealing right?
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