1990: [Part 1] A Flexible Plan For Health Insurance In Early Retirement by Chris Mamula

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🗓️ 10 August 2022

⏱️ 11 minutes

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Summary

Chris Mamula of Can I Retire Yet shares a flexible plan for health insurance in early retirement. This is part 1 of 2. Episode 1990: [Part 1] A Flexible Plan For Health Insurance In Early Retirement by Chris Mamula Darrow Kirkpatrick is the founder of CanIRetireYet.com. He began serious investing in his mid-30s and retired at age 50. He's not a dot com millionaire and didn't become financially independent by flipping real estate or trading hot stocks. He did it the traditional way: hard work, frugality, prudent investing, and patience. When it comes to personal finance, his top priorities are simplicity, reliability, and safety. Now his mission is to help others become financially independent as he did. More recently, Chris Mamula has been managing the blog and he's a frequent writer on the site. Chris used principles of traditional retirement planning, combined with creative lifestyle design, to retire from a career as a physical therapist at age 41. After poor experiences with the financial industry early in his professional life, he educated himself on investing and tax planning. Now he draws on his experience to write about wealth building, DIY investing, financial planning, early retirement, and lifestyle design. The original post is located here: https://www.caniretireyet.com/flexible-health-insurance-early-retirement/ Visit Me Online at OLDPodcast.com Interested in advertising on the show? https://www.advertisecast.com/OptimalFinanceDaily Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	This is Optimal Finance Daily Episode 1990, a flexible plan for health insurance in early
0:06.9	retirement, Part 1, by Chris Mammula of Can I Retire Yet.com, and I'm your host and
0:13.4	personal finance enthusiast, Diana Merriam.
0:16.8	I have a bit of a longer post today.
0:18.8	I'll read the first half today and then finish the rest for you tomorrow.
0:23.1	So let's dive into the first half and start optimizing your life.
0:31.2	A flexible plan for health insurance in early retirement, Part 1, by Chris Mammula of Can I Retire Yet.com.
0:40.4	Health care costs present a major planning challenge for a pending retiree.
0:45.2	The earlier one would like to retire, the more daunting the challenge of bridging the
0:49.7	gap to Medicare eligibility.
0:52.3	America has the most expensive health care system in the world.
0:56.2	Costs continue to increase far faster than the overall inflation rate.
1:00.9	Retirees buying individual health insurance policies tend to have even higher rates than
1:05.7	those purchasing through groups.
1:08.6	Economic and political circumstances around the Affordable Care Act or ACA only magnify
1:13.9	these challenges.
1:15.9	Some insurance companies have stopped participating in the insurance exchanges.
1:20.8	Ungoing political uncertainty surrounding the law has caused remaining insurers to
1:25.4	seek additional premium increases for next year.
1:29.4	While the ACA has many problems, without it there would be no guarantee that individuals
1:34.2	with pre-existing conditions could buy insurance at any price.
1:38.9	Despite the challenges and uncertainties surrounding health care, I'm beginning my transition
	...

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