Healthcare Hacks for Early Retirees: What You Need to Know

In this episode of the Retire Early Podcast, financial advisors and retirement planners Sam Benson and Linwood Fraher of Martin Wealth Solutions discuss the crucial topic of managing healthcare costs for early retirees before Medicare eligibility at age 65. They dive into various healthcare coverage options such as COBRA, ACA Marketplace, Christian Health Sharing plans, and part-time work benefits. They emphasize the importance of planning for medical expenses, understanding potential pitfalls, and consulting with a financial planner to ensure a smooth transition into early retirement.

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00:00 Introduction and Podcast Overview

00:13 The Importance of Healthcare in Early Retirement

00:56 Personal Experiences and Client Stories

01:19 Healthcare Costs and Budgeting

05:21 Options for Healthcare Coverage Before Medicare

05:29 Cobra Coverage Explained

06:17 ACA Marketplace and Income-Based Subsidies

09:27 Faith-Based Health Sharing Plans

12:35 Part-Time Work for Health Coverage

16:04 Comparing Healthcare Plans

21:01 Conclusion and Final Thoughts

Disclaimer:
Opinions expressed herein are solely those of Martin Wealth Solutions, unless otherwise specifically cited. Material presented is believed to be from reliable sources, but no representations are made by our firm as to another parties’ informational accuracy or completeness. Content provided herein is for informational purposes only and should not be used or construed as investment advice or a recommendation regarding the purchase or sale of any security. There is no guarantee that any statements, opinions or forecasts provided herein will prove to be correct. All information or ideas provided should be discussed in detail with an advisor, accountant or legal counsel prior to implementation. Past performance may not be indicative of future results. Indices are not available for direct investment. Any investor who attempts to mimic the performance of an index would incur fees and expenses which would reduce returns. Securities investing involves risk, including the potential for loss of principal. There is no assurance that any investment plan or strategy will be successful.