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Could medicaid bridge the gap for early retirees?


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  • DollarsnCents
    2020-06-23 06:13:04 PM
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    I'm very curious here. My dad just recently retired early he's 60, and still has two more years until he can go on Medicare. What are some options for early retirees, especially if they aren't receiving spousal insurance through an employer. Could Medicaid be an option to at least tide them over until they are eligible for Social Security and Medicare? Is that even an option? If it isn't, I think it should be. Early retirees can fall through the cracks of the healthcare systems, especially if they were low income employees with no way to pay for medical bills. I've heard people talking about how the government should use Medicaid in this way, but that's all I've heard is just talking and debating on the subject. Can anyone shed light on the subject?
  • WyattTown
    2020-06-25 12:40:21 PM
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    Options are a little slim and I wouldn't say great. Also depends on if early retirees are trying to get health insurance for just them, or for a family of 2-4. Price obviously goes up the more on the policy.

    Health Insurance Options for Early Retirees

    That's a good read.

    For Medicaid, you have to met low income thresholds or disability status. And if your dad retired early, I would wager to guess money isn't a big issue. Even still, every state has different qualifications so worth at least applying for. Like another poster here said, you never know until you apply so you might as well give it a go.

  • Old Sport
    2020-06-25 04:49:49 PM
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    WyattTown Wrote:

    Options are a little slim and I wouldn't say great. Also depends on if early retirees are trying to get health insurance for just them, or for a family of 2-4. Price obviously goes up the more on the policy.

    Health Insurance Options for Early Retirees

    That's a good read.

    For Medicaid, you have to met low income thresholds or disability status. And if your dad retired early, I would wager to guess money isn't a big issue. Even still, every state has different qualifications so worth at least applying for. Like another poster here said, you never know until you apply so you might as well give it a go.

    That's how I understand this, as well.

    Medicare doesn't kick in until 65 unless your father has ALS, end-stage kidney disease. There's also a rule that allows people aged 62-65 to enroll in Medicare if they are getting disability benefits from Social Security or the Railroad Retirement Board for at least 24 months prior to enrollment.

    Who is eligible for Medicare?

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