Open Enrollment Is Here

Medicare Open Enrollment – October 15, 2020 through December 7, 2020

Health Insurance Open Enrollment – November 1, 2020 through December 15, 2020

Early Retiree Health Insurance

Carolina Insurance Professionals

We Make It Easy to Find the Right Healthcare Plan

While work may no longer be a concern for individuals retiring before the age of 65, health insurance usually is. Many people approaching retirement age spend several hundred to upwards of a thousand dollars per month on health insurance premiums.

Prescription drug coverage, specialists, and other healthcare needs are important and necessary to have before Medicare eligibility. But what are the early retire health insurance options for people under 65? And can those options be affordable before Medicare eligibility kicks in?

Carolina Insurance Professionals specializes in finding affordable healthcare solutions for individuals fortunate enough to retire early. Call us or contact us online to speak with an independent insurance agent who is ready to find the best health insurance that will fit both your needs and budget.

Senior couple in health insurance agent office

Early Retirement Health Insurance Options

Many retirees are looking forward to Medicare eligibility in the United States. However, most Americans aren’t eligible for Medicare coverage until the age of 65. Take a few minutes to check with one of our experienced insurance agents and see if you might be eligible before the standard retirement age. If you’ve been diagnosed with conditions such as end-stage renal disease (ESRD) or Lou Gehrig’s Disease (ALS), you may be eligible for Medicare even though you haven’t reached the age of 65.

If you aren’t eligible for Medicare just yet, there are some options definitely worth exploring with Carolina Insurance Professionals. Together, we’ll walk through your early retirement healthcare options including (but not limited to):

  • COBRA
  • Medicaid
  • The federal health insurance exchange, also known as The Marketplace
  • Employer-sponsored health insurance (through a former employer or a part-time position)
  • Private insurance
  • Your spouse’s health insurance plan
  • And more

The cost of health insurance coverage through the options above for early retirees is going to vary greatly. Your expenses will likely depend on factors such as:

  • Your income
  • Your location (in this case, North Carolina)
  • Whether you are a current tobacco user
  • Your age
  • Your health insurance plan’s category or status (Bronze, Silver, Gold, etc.)

Carolina Insurance Professionals specializes in finding competitive rates for early retirees in North Carolina. We evaluate your circumstances and quickly find quotes from multiple carriers to compare costs. Our independent insurance agents work closely with you, at no extra cost to you, to find your ideal coverage.

Find The Perfect Plan

It’s our pleasure to evaluate all your health insurance needs and help you choose the right policy. With Carolina Insurance Professionals by your side, you will be ready for any surprises that life throws your way.

Want To Speak with an Insurance Agent?
Call Us at 919-285-4732

2021 Early Retirement Health Insurance Income Guidelines

As an early retiree, you may qualify for a tax credit to offset the high cost of health insurance each month. However, your income does impact how much you pay for health insurance each month and whether you qualify for that credit.

We’ve put together a table below outlining income thresholds to qualify for tax credits based on income and household size in 2020. Please keep in mind that these thresholds are subject to change from year to year. It’s important to consult with Carolina Insurance Professionals each year to ensure you still qualify. If you cross the income threshold for your household size, you risk financial penalties come tax time.

For retirees who aren’t yet 65, Carolina Insurance Professionals recommends keeping your income below the Modified Adjusted Gross Income (MAGI or Maximum AGI) for your household size. See the income guidelines below for thresholds.

2021 Early Retire Health Insurance Income Guidelines

Household SizeMinimum MAGIMaximum MAGI
1$12,760$51,040
2$17,240$68,960
3$21,720$86,880
4$26,200$104,800
5$30,680$122,720
6$35,160$140,640
7$39,640$158,560
8$44,120$176,480
For each additional person$4,480$4,480

Companies that Offer Retiree Health Insurance 

As we’ve already discovered, there are several health insurance options for individuals who are able to retire early. Should you choose to explore carriers through private insurance or the federal health insurance exchange, you may have a tough decision on your hands.

Health insurance companies offer different plans, of course. When evaluating these plans, it’s important to consider how costs and benefits impact you. For example, a low premium may at first be appealing. However, if your plan doesn’t cover your prescription drugs, you may end up paying more out-of-pocket than you would have with a higher premium plan.

Carolina Insurance Professionals not only finds you competitive rates, we also find you the coverage that works for you and your budget. Some things to consider when choosing a health insurance plan include:

  • Monthly premium costs
  • Annual deductibles
  • Out-of-pocket maximums
  • Prescription drug coverage
  • Copays to see primary care physicians or specialists
  • If a necessary treatment is not covered by medical insurance
  • Catastrophic coverage
  • Whether your current physicians are in or out of network
  • And more

Consult with us to discuss which companies offer retiree health insurance options that make sense for you. Our services are available at no extra cost to you and each of our agents is experienced and licensed in the state of North Carolina. Get health insurance to cover any medical costs that you need to stay healthy.

Health Insurance for Retirees Under 65

For individuals under the age of 65, you’re likely not eligible for Medicare just yet. If you have a few years until Medicare eligibility, explore affordable options with Carolina Insurance Professionals. We’re able to find you competitive rates and evaluate your specific health needs to get you the best coverage possible.

Additionally, we help you transition from private health insurance (or other insurance options) to Medicare once you’re eligible. Our agents are trained and licensed in the state of North Carolina to guide you through understanding your options, and can help you to evaluate which plan you should choose.

Rest assured and embrace the peace of mind knowing you’re retiring early. Don’t waste time worrying about health insurance when you can easily contact us and find affordable rates for quality coverage. We compare health insurance rates for you so you can spend more time doing what you love and enjoying your well-earned retirement.

We’re conveniently located in Raleigh, NC, and proudly serve all 100 counties in North Carolinal. Give us a call, text us, or contact us online for more information. We gladly offer free, no-obligation consultations and easy appointment booking services to get your questions answered fast.

How Our Clients Rate Us

Scroll to Top