Retire Early Lifestyle
Retirement; like your parents, but way cooler

In 1991 Billy and Akaisha Kaderli retired at the age of 38. Now, into their 4th decade of this financially independent lifestyle, they invite you to take advantage of their wisdom and experience.

Q and A with a Reader

Health Insurance

Billy and Akaisha Kaderli

Hi Billy and Akaisha,

Just listened to your podcast with Mad Fientist and identified immediately with your lifestyle. I’m looking to retire in a few years and travel so would love to hear your take on certain factors. For instance, I would like to maintain a base in the US and travel to different countries for at least six months of the year. My biggest problem is health insurance.

Modern facilities in Guatemala

Do I still need to maintain insurance in the US for the times I’m not here? Also, how do you feel insurance compares in other countries compare in terms of cost and quality? I’ve heard good things about Mexico and Portugal.

Looking forward to hearing your advice.

I plan to spend a lot of time reading your blog. All the best and continue to be a model for folks like myself.

Regards,

Raj

Hi Raj,

Thank you for taking the time to write and for your compliments. We appreciate them!

Regarding Health insurance, that could be a conundrum -- but it depends on what you might feel comfortable with.

You don't say if you are in good health, or if you have a medical condition that needs monitoring. I am assuming you are speaking for yourself, and not for a wife or children.

Depending on your situation, you could do any of the following:

Perhaps a high-deductible, catastrophic US-based insurance plan would be the best for you. The prices for these insurance plans depend on where your domicile is - for instance insurance costs in San Francisco or NYC are higher priced than a plan in middle America like Kentucky, Oklahoma or Missouri.

If you do have a high-deductible, US-based health insurance plan (which hopefully would be affordable to you) then you could take out Travel Insurance say, through World Nomads. This policy is low-cost, so long as it doesn't cover the US. It also doesn't cover pre-existing conditions but is worth looking into.

Do you qualify for subsidies for an Obamacare plan? Some people are pleased with those plans however, I think to qualify, you must be in the country 11 out of the 12 months of the year.

When would you be eligible for Medicare? This does not cover you outside the US, but if you are going to be entitled in a year or two, or even three, then the expense of having an insurance policy would just be temporary until you can enact Medicare.

Engaging an international health plan that would cover you in every country can be had -- but if you want it to cover the US it can immediately be more expensive.

Health care in many foreign countries is affordable to pay out of pocket. Depending on where you might want to travel, and your travel style, this might be something you would seriously consider.

We personally pay out of pocket for our medical expenses wherever we are. We have had executive physicals in Thailand, dental care (including bridges and tooth implant) in Guatemala, Mexico and Vietnam. We have had colonoscopies around the globe, and even emergency visits for the unexpected and paid for them out of pocket.

Below I will list a couple of articles we have written regarding Health Insurance, and  the different perspectives regarding them. It might help you make up your mind what suits you best.

Remember, there is no one-right-answer, and there is no one-size-fits-all.

I hope you find this information to be useful. Please take a look below for the articles I just mentioned.

Best Regards and do keep in touch.

Akaisha

Retire Early Lifestyle appeals to a different kind of person – the person who prizes their independence, values their time, and who doesn’t want to mindlessly follow the crowd.

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