The gap before Medicare
Most people become eligible for Medicare at 65. Retiring earlier means leaving your employer's plan, so you'll need your own coverage until then. Losing that job-based coverage usually opens a Special Enrollment Period to enroll in a Marketplace plan.
How retirement income affects your premium
Marketplace savings are based on your household's expected income for the year, not your savings or assets. Withdrawals from some retirement accounts, pensions and other income can count. Planning which income you take, and when, can affect what you pay. Talk with your tax or financial advisor about the details.
What to compare
- Your doctors and specialists. Networks vary from plan to plan.
- Prescriptions. How each plan covers the medications you take.
- Total yearly cost. Premium plus the deductible and out-of-pocket maximum.
Common questions
Can I keep my employer's plan after I retire?
Some employers offer retiree coverage or COBRA. Davis can compare that cost with a Marketplace plan.
Will my savings account balance affect my premium?
Marketplace savings are based on income, not on assets like savings balances.
What happens when I turn 65?
You'll generally move to Medicare. Plan the switch ahead of time so there's no gap.
