My Wife Wants to Retire Now, but Needs Her Employer Sponsored Health Care

Hi Bill and Akaisha,

I am 66 and my partner will be 63 in December.  I am retired and have Medicare and a good supplement.  Jamie gets insurance through her work which is our dilemma.  She wants to retire but will need to cover herself for 2 years.  How did you guys deal with this problem?  Any suggestions?  We travel outside the US regularly but her insurance issues have held us back.

Thanks,

Irv

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Hi Irv,

Thank you for taking the time to write. We appreciate it.

We understand your wife’s hesitation in giving up her work-provided health care. Getting sick or needing medical attention in the US is very expensive. This is not as cumbersome a problem receiving medical care overseas where it is far more affordable out of pocket.

I suppose it depends on how much travel out of the States that you intend to do in the next couple of years before she qualifies for Medicare… or how badly your wife would like to retire. You could choose to Go Naked – and receive your health care overseas (including your preventative exams), which has been a viable plan for many. But if you intend to live in the US and spend most of your time in the States, that could be nerve wracking for you.

I imagine it would also affect your decision if your wife has pre-existing conditions – where even travel insurance would exclude coverage for these areas of health.

Do you plan to live in the States? Move overseas? Is your wife reasonably healthy?

When we first retired and for years afterwards, Billy and I took out a high deductible US based health insurance plan. Eventually, we dropped that plan since we were spending most of our time overseas and paid for medical care out of pocket. The money we would have spent for premiums, we just saved and created our own HSA and self-insured.

This plan worked for us, but it may not work for you for various reasons, as everyone is different.

If you would like to know more about Medical Tourism or other Health Insurance Options, then click on the previous links. You might find the information provided to be helpful.

I hope you find the above information to be useful. Good luck to you and feel free to write any time.

Best,

Akaisha

About Retire Early Lifestyle

Billy and Akaisha Kaderli retired two decades ago at the age of 38 and began traveling the world. As recognized retirement experts and internationally published authors on topics of finance and world travel, they have been interviewed about retirement issues by The Wall Street Journal, Kiplinger's Personal Finance Magazine, The Motley Fool Rule Your Retirement newsletter, nationally syndicated radio talk shows and countless newspapers and TV shows nationally and worldwide. They wrote the popular books The Adventurer's Guide to Early Retirement and Your Retirement Dream IS Possible.
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