How to Retire Without Health Insurance

Health insurance costs more than many retirees can afford, and in some cases is not even made available through former employers or private sources. Anyone retiring before the age of eligibility for Medicare insurance is left to find affordable health care coverage to pay for doctors, prescriptions, medical procedures and hospital visits. For many, the cost of living is barely affordable without a salary. Retiring without health insurance is one of the ways some workers arrange for an early retirement.

Instructions

• 1

  Retire before the age of 65 when you would otherwise be eligible for Medicare insurance. Early retirement from the age of 62 allows you to draw social security benefits, but it will leave you without health insurance unless you have coverage through another provider.

• 2

  Decline all offers for health coverage extended to you from your final employer. Many group insurance plans make health packages available to retiring employees. The health insurance costs are set as reasonable as possible for people on a fixed income.

• 3

  Decline the purchase of any private health care coverage plans. Several insurance companies have created groups for retirees that make health care costs more affordable. Non-smokers between the ages of 55 and 65 with no health issues are eligible for senior plans for health and supplemental insurance to cover workers in early retirement.