retirement

6 signs that you are ready to retire early

Retirement »

No. 3: You have reliable health insurance coverage
No. 3: You have reliable health insurance coverage © Alexander Raths/Shutterstock.com

No. 3: You have reliable health insurance coverage

Because Medicare doesn't kick in until age 65 and health insurance costs are rising faster than inflation, it's important to have a reliable, consistent source of health insurance. While health care reform will make health insurance more widely available, that coverage may get expensive. For many would-be early retirees, affordable coverage is most likely to come from a former employer.

"Having adequate health insurance and other insurance coverage including life, disability and long-term care is a factor in whether you can retire early," says Harrine Freeman, CEO of H.E. Freeman Enterprises in Bethesda, Md. A policy with low deductibles and copays that covers prescriptions, doctor visits, hospitalization, dental and vision will help keep out-of-pocket expenses as low as possible.

advertisement

Show Bankrate's community sharing policy
          Connect with us
advertisement
Sponsor

Be An IRA Expert

Lessen the retirement tax bite

Worried about retirement income? Follow these 5 strategies to lessen tax liability.

CD & INVESTING NEWSLETTER

Learn the latest trends that will help grow your portfolio, plus tips on investing strategies. Delivered weekly.

Blog

Jennie Phipps

Feds fight to thwart ID thieves

The IRS, Federal Trade Commission and Social Security Administration are taking steps to protect consumers from identity theft.  ... Read more

advertisement
Partner Center
advertisement

Connect with us