3 Healthcare Options For Retirees Prior to Medicare | Which is Best?!

[@Scott-sm9nm]

4:45 Re: ACA income - Traditional IRA withdrawals count *BUT* ROTH IRA withdrawals do NOT count. This is a massive key point.

[@barbiec4312]

We saved cash in the bank (after tax) to supplement our taxable income until Medicare kicks in. So that I can qualify for the ACA. The healthcare situation is so messed up in this country.

[@onlywenilaugh6589]

Hope the bank wasn't SVB.

[@ckp2ator389]

One of the problems is it's too damn complicated. An example is the above video. You shouldn't have to do stratagems to get overpriced health care alleviated.

[@htown148]

​@@ckp2ator389aca takes 5 minutes to sign up

[@kzalaska4804]

This is exactly why I converted a large chunk of my 401K to a Roth this year, I am retiring next year at 54 years old and I want to be able to draw of the Roth for "unreported" income to keep the subsidy up.

[@agates9383]

remember that any converted roth funds are locked up for 5 years without penalty

[@mattpurcell3369]

But what kind if tax hit di tat incur?

[@PaulRoncelli]

smart move. i tell all my clients to do that if they can

[@nathandash9385]

If your income is less than 25k per year. medi-cal charges zero. You can even do a large IRA to ROTH conversion since it’s considered a One time event. Medi-cal verifies your income monthly compared to ACA yearly verification

[@RetrieverTrainingAlone]

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.

[@Paxevo]

Myself and other single working moms are are paying for your WELFARE (ACA subsidies). You saved 25k but you cost us 25k. Thanks

[@RetrieverTrainingAlone]

@@Paxevo FAKE NEWS!

[@tompGA]

You did not mention short-term medical plans. These may be a viable option for bridging 2-3 years before Medicare. Also, Health Sharing plans can be very risky as they are not true insurance but are a promise to reimburse IF the medical care expense was deemed as qualified.

[@mikec8161]

The issue I found with “medishare” plans is few Dr’s or Hospitals take them! When I retired, none of the doctors that were under my company healthcare plan with would take medishare nor any Obama care plans.

[@jefflloyd394]

Always worth watching, Cheers, Jef

[@moosesmart]

Farm bureau health insurance was by far the best option for me and my family. Also a hybrid of Direct Primary Care & Medi Share was another good alternative.

[@Lisa-oq7ep]

Farm Bureau is Unites Health Care. The denials are real. Hope that doesn't happen to you.

[@Lisa-oq7ep]

Farm Bureau is United Health Care. The denials are a real problem. They don't cover until you get every doctor and hospital to send all their records, and you have to answer in writing the same questions over and over. Then they comeback and say they will not cover becauae whatever was pre-existing.

[@TeresaMicheals]

I'm 58, retired early, and stuck trying to figure out affordable healthcare options until I qualify for Medicare. I’ve heard COBRA is one way to go, but it’s so expensive! I’m worried these costs will eat into my retirement savings.

[@Sanchyfab]

I’m 61 and ran into the same problem! COBRA was way overpriced for me. I ended up using a health insurance marketplace plan instead. The premiums were lower, and I even qualified for subsidies. But honestly, these healthcare expenses are something I didn’t plan well for. I wish someone had warned me earlier to budget for this

[@maxshiraz3447]

Where I live, you have to have a low income in order to get a subsidy on a largely useless, super-high deductible ($15,000) bronze plan. They could not have made it worse.

[@ckp2ator389]

This falls into the category of every situation is unique. My family was on COBRA on and off with spouse's changing jobs situation. Expensive but at least we couldn't be denied and we got the employer's group rate and the same plan. Then when COBRA ran out (this is pre-ACA) I was able to convert to an individual plan with the same insurance company. When spouse reached Medicare age, I went on to ACA and was shocked at the premium prices and the high deductibles. No way could income be manipulated for subsidy since spouse was still earning income from a full time job. So I stuck with ACA bronze plans for 3 years (at least opened up an HSA for 2 of them when I chose the lowest of the low plans) until I qualified for Medicare.

[@barneyfyfe8313]

Do the math on the "metal" plans. Your out of pocket may be less with bronze than your premiums with platinum.

[@onlywenilaugh6589]

Leave it to the government to complicate things so much.

[@pensacola321]

It is complicated because the Republicans don't want universal healthcare.

[@MicheleBartonThomas]

They do this on purpose to keep us all confused and shelling out money.

[@jefflloyd394]

Nice to have some options and it is really very reasonable. Shame we are not yet a developed country though, with free healthcare for all. Thanks Eric.

[@MicheleBartonThomas]

NOTHING IS FREE!!!! It’s a burden on the taxpayers!!!

[@ay920]

Very informative. Does your net worth (assuming it's fairly high in mostly retirement savings) affect your monthly premium if the income is below the poverty level?

[@pgrutube]

From what I've watched, assets, like 401Ks, Savings accounts etc, are not considered when computing subsidies for ACA healthcare. Only Income. Income as in wages, interest and capital gains etc. So I'm wondering if I can take higher distributions of my retirement funds while I'm on COBRA, put them in savings, and then live on those savings for that 1 year GAP while I'm on a ACA plan to bridge me to Medicare. So basically no distributions, ie income, that 1 year, making my subsidy super high which covers my ACA premiums at 100%.

[@eastwestpicayune8200]

Ok. I watched this video several times and still dont understand subsidy slope ans subsidy cliff. What i get is i should not have 54k income for single to get subsidy. Am i right?

[@henryrivas8999]

Thank you. I enjoy following you guys. Changing how we need to travel is our plan. We take care of my 85 year old mom snd while she is very mobile and self sufficient. There are times she needs us. So our first year of retirement plannis to take 6 months of travel in 2 month chunks. I am just starting to look at bookings and i find yiu cannot book more than 28 days at a time air bnb. I know you guys dont use that service, do you have another reccomended option?

[@desiv1170]

Ah!!! I see!!! Yeah, that makes sense...

[@cybrainx72]

Exactly the last section.. will make me run away from these tax planners.

[@bruceeigsti5274]

So when we retire nxt year at 63.. we will get aca and have no taxable income because we have Roth Ira ask tax free..would we even qualify fur aca or get medicaid?

[@williams8198]

There is a level of income, calulated off the poverty level, you have to have to qualify for ACA. Anything lower and you would be on medicaid.

[@captsorghum]

Doesn't ACA have a one year look-back for income?

[@MikhailMamontov-c6h]

You have to blame American politicians, Republicans and Democrats, that created these high costs of health care. American people care a lot about carrying guns when they cannot afford dental work and dentures.

[@flicks28]

Leave the US, the US healthcare industry is pathetic and comical.