Healthcare in Retirement: How Do I Get Health Insurance When I Retire?

Retirement is supposed to be an absolute joy. You worked hard for many years to be able to finally do whatever you want, whether that’s travel or spend time with your grandchildren.

The security that you’re supposed to have and enjoy has turned into anxiety and uncertainty. Healthcare costs have ballooned over the years. A couple that retires in 2019 will need about $285,000 for healthcare costs alone, and that’s with insurance.

Whether you retire early or retire when you turn 65, you can still get healthcare. How do you make sure you have healthcare in retirement? Read on to find out.

COBRA Insurance

If you had a great healthcare plan through your employer, you may have the option to keep your plan through the Consolidated Omnibus Budget Reconciliation Act (COBRA).

Thanks to this bill, you can keep your insurance coverage if you lose your job or retire for 18 months. The downside to this is that you would have to pay the entire premium yourself.

You’ll want to work with your health insurance company and your employer to get this program set up. Be aware that these plans do change, so you want to make sure that the plan provides the coverage you need.

Healthcare for Retirees

Did you work for a large corporation for many years and retire there? Some employers still provide healthcare in retirement for people who retire early.

Keep in mind that this applies if you worked for a company with over 200 employees. It’s worth calling your HR Department to find out what you’re eligible for.

Your employer may pay part of the premium, so you get a similar health plan and you don’t have to pay as much for it.

Affordable Care Act

As part of the Affordable Care Act, you can purchase individual insurance on the Healthcare Marketplace.

Another part of the ACA is the ability to get insurance subsidies and tax relief if you retired early and you’re paying for healthcare yourself.


For retirees who are 65 or older, Medicare is going to be the primary option for healthcare in retirement.

There are several parts of Medicare. Part A covers hospital costs and you don’t pay a premium. Medicare Part B will take care of doctor’s visits and some tests. You’ll have a monthly premium to pay.

Medicare Part D is for your prescriptions. There’s also Medicare Part C, which is a healthcare plan that private insurers offer.

Healthcare in Retirement Doesn’t Have to Be Scary

Retirement is supposed to be the best time in your life because you are finally free to do what you want. You should be able to enjoy it without the burden of paying for healthcare.

Fortunately, you do have plenty of options for healthcare in retirement, whether you retire early or not. You can still get employer-sponsored insurance or take advantage of the Affordable Care Act.

Would you like more great health tips? Check our blog often for the latest health articles.