IF YOU RETIRE BEFORE Medicare eligibility begins at age 65, you will need to purchase health insurance. It is important to find coverage for routine medical checkups and prescriptions as well as hospital stays and unexpected health conditions.
“An early retiree can expect to budget between $500 and $1,000 per person for health insurance each month prior to the age of 65,” says Sahil Vakil, a certified financial planner and CEO and founder of MYRA Wealth, a remote wealth management firm in Jersey City, New Jersey. Your exact cost may be more or less than that, depending on your income, eligibility for subsidies and employer situation.
