If you are aged between 50 and 65, you will be looking for health insurance or are looking for health insurance you may need some help. This is a difficult age (of course, which is not the starting age) with the terrible twos, because you are at a prime age to develop health problems to begin. Statistically, and statistics is the only language to talk about insurance, the insurance company can predict that it willfor more than 50-65 years old 20-45 years old. For this reason, premiums are much higher for the older person.
But we baby boomers are an intelligent group, and where there is a will, there's a way. So let us look at some of the options:
If you withdraw now to have a job and look forward to, or start your own business, you have a few possibilities can. First, they can examine, ask if your company, you can buy health insurance through the companyPlan. If your company can you do so, provided your employer (we speak early retirement) may subsidize a portion of your premiums. If not, you still get a group, the prices are a lot cheaper than individual prices. If you are married and your spouse still works consider the plan by his / her, if this option is available for you.
The next option (if it is currently a job that offers health insurance) COBRA, or Consolidated OmnibusBudget Reconciliation Act. COBRA to former employees and their dependents continue their employer group coverage for up to 18 months. COBRA is the best thing about it is guaranteed. Your former employer's insurance you can not turn on, even if you have a chronic illness. The worst part of COBRA is the cost. Your employer does not in general 70% or more for your health insurance premium. With COBRA, you must condemn the entire premium, plus administrative costs. IndustrySurveys show that on an average premium (for 2007), a former employee of the foundation would have to more than $ 373 per month for individual coverage and pay more than $ 1008 per month for family coverage.
If you are not currently used by a company which provides health insurance to be used there are still opportunities for you. If you already have existing diseases such as diabetes or hypertension, you can high-risk coverage through a state health program to those obtained with the helpmedical conditions that prevent them from ever insurance. Even if the premiums can be as COBRA, although quite high.
You can also choose from professional organizations you could join or are already affiliated with to see if they offer health insurance to members. Since this group plans, the premium is less than what you pay in each market.
Finally there is the individual health insurance option. It hasbeen some progress in terms of the offers of the policy for the age group 50-65 years the market largely because the insurers will see in this age group as a potential growth market. Many baby boomers are in good health and higher incomes than younger people. Insurance companies hope that pensioners will still buy their products, such as additional insurance, even if they are eligible for Medicare. Some of the policies currently offered premiums as low as $ 200 per monthfor people in good health and are willing to pay a high deductible. Many insurance advice columnists recommend combining a high deductible individual health insurance with a health savings account. HSA contributions are left with pre-tax dollars and no money in the account at the end of the year is to be transferred for future applications. Withdrawals are not taxed if used for qualified medical expenses are.
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