Obamacare Early Retirement, How Does the Law Help?
I would like to retire at 62 but with insurance costing me 6-800 dollars a month there is no way. My wife is disabled and gets SSI with one of the Medicare ins. We also have a 17 year old son at home. What are my options with Obamacare with prices.
Answer
The Marketplace allows families to get lower costs making early retirement easier. To find out if you qualify for cost assistance you'll look at your household Modified Adjusted Gross Income of you and your dependents. You'll then compare that amount to the Federal Poverty Level. You may find you have affordable options after cost assistance. Make sure to sign up during open enrollment which ends February 15th each year.
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IF my employer-offered plan pre-medicare retirement premiums are greater than 9.5% (or what ever the 9.5% rule variable amount for the year is), or greater than 8% if I have a dependent, of my HM AGI, does the 9.5% exemption apply to me in early retirement?
From what I understand the rule would also apply to this coverage type.