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How Does Healthcare Work in Retirement?

Are you considering retiring early but are unsure about your healthcare options? On this episode of A Wiser Retirement Podcast, Casey Smith, Matthews Barnett, CFP®, ChFC®, CLU®, and Brad Lyons, CFP® talk about different healthcare options in retirement. They also talk about ways to qualify for Medicare early, the Affordable Care Act, and why it’s important to consider different saving strategies.

Listen on Apple Podcasts or watch on YouTube:


Three Ways to Qualify for Medicare Early

There are three main ways to qualify for Medicare before age 65. The first way to qualify is if you have been on social security disability for at least two years. The second way is if you have ALS, or Lou Gehrig's Disease. The third, and final way you may qualify is if you have End-Stage Renal Disease (ESRD).

Healthcare Options

There are a few different pre-retirement healthcare options to choose from. It is important to weight the pros and cons for each option so you can find the best healthcare option for you. A few options include Medi-Share, Medicaid, short term health insurance, family healthcare insurance, and individual healthcare insurance. Another option is you could work a part-time job that offers healthcare benefits. Explore each option to figure out which one will be the best fit for your lifestyle!

Affordable Care Act

The affordable care act can be beneficial for some families. However, it may be hard to receive this benefit since it is based on the federal poverty level. In the past if you were above the 400% poverty level, you couldn't receive any subsidies. This has recently changed. As of now, you can receive some subsidies at this level, which is a nice added benefit. If you choose to apply for the affordable care act, make sure you double check your modified adjusted gross income calculation.

Healthcare Planning

Healthcare is such a big thing to tackle before age 65. Because of this, it is important to think about your healthcare plan and saving strategy leading up to retirement. To begin this process start developing different savings buckets. Then, consider which tax strategy you are trying to accomplish. This will help you decide which accounts to pull your money from and when.

Download our white paper on "Your Pre-Retirement Checklist"


0:00 Intro

3:10 Three Ways to Qualify for Medicare Early

4:23 Healthcare Options

8:19 Affordable Care Act

12:05 Healthcare Planning


Learn more about Casey Smith and connect with him on Twitter.

Learn more about Brad Lyons.

Learn more about Matthews Barnett.


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Learn more about A Wiser Retirement podcast and access previous episodes.

Wiser Wealth Management, Inc. is a registered investment adviser. Information presented is for educational purposes only and does not intend to make an offer or solicitation for the sale or purchase of any specific securities, investments or investment strategies. Investments involve risk and, unless otherwise stated, are not guaranteed. Be sure to first consult with a qualified financial adviser and/or tax professional before implementing any strategy discussed herein. Past performance is not indicative of future performance.

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