Chelsey Tucker graduated with a Bachelor of History degree from Metropolitan State University in 2019. She now writes about insurance with her specialty being life insurance and has been quoted on Help Smart Phone and MEL Magazine.

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Dan Walker graduated with a BS in Administrative Management in 2005 and has been working in his family’s insurance agency, FCI Agency, for 15 years. He is licensed as an agent to write property and casualty insurance, including home, auto, umbrella, and dwelling fire insurance. He’s also been featured on sites like

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Reviewed by Daniel Walker
Licensed Auto Insurance Agent

UPDATED: Mar 19, 2020

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The lowdown...

Health insurance issues were never easy to understand, and in some cases have become even more difficult because of the numerous changes that are being made. Thus it is necessary to more about the health insurance industry.

Enter your zip above to compare private Medicare health insurance plans today!

Beware of Changes

Changes are constantly taking place regarding insurance and retirement benefits, which while are separate entities, both have to be carefully considered when making decisions about retirement and health care or faced with unanticipated situations, such as being fired from a job that offered retirement and health benefits.

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Examining the Options


The first option calls for drawing full Medicare benefits at age 65. However, Medicare by itself will not cover all medical costs. In addition, if you start drawing Social Security benefits before age 66, you will not receive the full benefit.

Retiring between age 62 and 65 means you can start drawing reduced Social Security Benefits at age 62, but will not be eligible for Medicare benefits until you reach the age of 65. Simply stated, while Social Security and Medicare are both federal programs, they are not totally in sync with each other.

Retiring before the age of 60 basically means that a person is taking early retirement, and either has an individual policy, is a dependent upon a spouse’s insurance coverage or has secured coverage through the Affordable Care Act.

Types of Medicare Benefits and Choices


Starting With the best-case scenario in the first example, a person reaches the age of 65 and is eligible to draw Medicare benefits. If the person is still working and receiving coverage through an employer group policy, drawing Medicare benefits can be delayed.

Medicare is accepted by most doctors and hospitals. However, Medicare normally only pays approximately 80 percent of a person’s medical costs. There is a Part B deductible that has to be met, less than $200.

As a safeguard, individuals can purchase Medigap coverage, which will usually cover the remaining 20 percent. If Medicare denies the claim, then the Medigap policy will not pay any portion of the claim.

It is also possible to receive Medicare benefits through a Medicare Advantage plan. These are normally operated as HMOs (Health Maintenance Organizations) and may offer benefits. However, there are some restrictions, such as being limited to using the doctors within the network, having its own prescription plan, which may or may not be to your benefit and having some co-pays for hospital stays.

Retiring Early, But Not Eligible for Medicare

Social Security allows individuals to start drawing benefits at the age of 62. Often this is done out of necessity when a person loses a job he has held for an extended period but is unable to find employment. Drawing Social Security benefits at 62 means the person will not receive full benefits. The loss of those benefits will not be recovered at the normal retirement age.

However, while Social Security benefits may be available, Medicare benefits will not be offered until age 65. Thus, the individual will have to find some supplemental plan.

The most likely choices are a private insurance plan or a plan that is provided under the Affordable Care Act, or Obamacare. While as a result of the 2016 presidential elections there has been considerable discussion about eliminating the Affordable Care Act. However, it appears while the structure of the program may change, three key components will remain.

The three components include:

– Providing subsidized health insurance for all people.

– Assuring that no person can be turned down for coverage, regardless of prior health conditions.

– Guaranteeing that all dependent children age 26 or less can be carried on their parents’ health care policy.

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Retiring at Age 60 or Earlier


Persons retiring before the age of 60 will usually be required to find their own health insurance. In some cases, a company may extend insurance benefits to retirees. However, that trend is phasing out. Part of the reason for that is the Affordable Care Act.

Prior to the enactment of the ACA, people could be denied health insurance for prior or current health conditions. By age 60 many, if not most, people have some prior health issue.

Now that the Affordable Care Act prohibits that practice, many companies are opting not to extended health insurance after a person retires. The retiree then has the option of purchasing an Affordable Care Act policy or utilizing one of the ACA exchanges to secure insurance.

Other Situations

Persons working for any federal, state, or municipal agencies or who have served in the military may face a slightly different situation. In some cases, the entities noted may provide Medicare type benefits through another program.



An important thing to remember when trying to determine the health care that may be available and understanding how Medicare or Social Security may impact it is only the first step. Changes are always taking place.

A few years ago, a person who could afford to purchase insurance, but had prior health conditions, often under control, such as blood pressure and diabetes, could not buy individual health coverage. There were some policies called “association policies” where a person could join a group and reap the benefits of health insurance, which paid only a minuscule amount.

Today, no one can be denied health care insurance for prior or current health conditions. That does not mean all the problems are solved.

The insurance industry, transitions in government and other factors are having an impact on the availability and affordability of health care. Thus, it is important to be aware of the current situation by keeping up with the latest trends and changes regarding health care, retirement, and other related matters.

Make sure you’re covered no matter what — Enter your zip below for free health insurance quotes!