Early Retirement Health Insurance Options

Insurance Options If You Retire Early


If you retire before age 65, you have several options for health insurance until you become eligible for Medicare. Your income and eligibility for other insurance programs are important factors when exploring health insurance options as an early retiree.


Is Medicare an option?

Because you are retiring before the age of 65, you are not yet eligible for Medicare. When you get close to Medicare eligibility, you can begin to explore your options. 

Types Of Health Insurance For Early Retirees


Individual and family health insurance plans

You can shop for individual and family health insurance Marketplace plans, including those plans available from Anthem. 


You can enroll in a Marketplace health insurance plan during the Annual Open Enrollment Period, which typically runs from November 1 to January 15 in most states. 


A significant other’s health insurance plan

If your spouse or significant other is working and has health insurance through their job, you can usually enroll as a dependent on their plan. 



You may be eligible for Medicaid if your income has decreased, or because of a disability. Look into the income or disability eligibility requirements for your state if you think you may qualify.


Review Early Retirement Health Insurance Costs By Monthly Premiums

Compare the premiums of early retirement health insurance options to find a plan that fits your coverage needs and budget. 


State health insurance Marketplace premiums for early retirees

Purchasing a health insurance plan through the Marketplace gives you access to financial help to lower your monthly premium if you qualify. Health insurance subsidies are based on your earnings and family size. Subsidies also consider the cost of health coverage in your state. If you qualify, you may be able to reduce or eliminate your monthly premium.


Joining a spouse or significant other’s health plan

A spouse or significant other’s health coverage monthly premium may increase if you join their plan. The cost varies depending on the plan and how much the employer contributes.


Medicaid for early retirees

Medicaid premiums are based on income level and, in most instances, are no cost.


Health Insurance Factors To Consider In Early Retirement

Early retirement may affect healthcare costs in different ways. 


Couples with age differences

When one person is eligible for Medicare already and the other has retired early but is not eligible:


The Medicare-eligible person can enroll in Medicare during the Annual Enrollment Period. The early retiree can sign up for an individual health insurance Marketplace plan or a limited duration healthcare plan until they are Medicare-eligible. 


Retirees with healthcare benefits through a union or prior employer

When healthcare benefits from a union or prior employer continue for an early retiree:


The early retiree should compare the costs and coverage carefully with private healthcare plans to see which one is more affordable. They may also be subject to additional rules regarding their costs and eligibility.


We Can Help You Navigate Your Health Insurance Options

Count on our experience and support to enroll in the right health coverage that meets your needs and budget as an early retiree. We can help you choose a health insurance plan with Anthem and guide you through the process.


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