Great information! I retired last year at 62 and have been on ACA since and pay $28 a month. I had gallbladder surgery at the beginning of this year and the only out of pocket I have had to come up with including all meds and Dr visits + surgery this year was the $1400 deductible. If not for ACA, I would have a huge hospital bill to be paid off! I did a lot of research before I retired to be sure I could get reasonable coverage. Thanks for sharing this! So many people are unaware of the options they have.

ACA needs to stay and be funded. I'm a conservative but this plan is helping people. Our insurance in this country is terrible.

Good video Tim. I retired at 62 and used Cobra for the first 18 months which as you said was very expensive. Since then I went on ACA and minimized my "income" by using available cash and SSI only. This kept my tax bracket near poverty and basically got medical insurance for $100/mo. with the tax credits.

Hey Tim. It's nice to see a regular guy who knows how to navigate retirement. Gets old looking at "geniuses" that are talking about having a million dollars in IRAs. Appreciate the good content. Keep it coming.

Thank you for the straightforward info on ACA. So many people do not understand it or are openly opposed to it without knowing the correct information.

There is a 90 day grace after you retire to qualify for health benefits. It's called a qualifying event. So you don't have to wait for open enrollment. Hope this helps!

About the enrollment period: If you miss the dates for open enrollment, apply for your states' Medicare program (what they give to the very poorest people) if your rejected, the Healthcare Marketplace opens back up to you. Getting rejected by any health care plan is a 'qualifying event' for the Healthcare Marketplace. Hope this helps.

Exactly what my wife and I are doing. She is still working part-time but I retired at 56. With very little income, we qualify for, essentially, free insurance. Why does it feel like a dirty little secret? I love being retired :)

This is your best video as far as information. The ACA has helped many, many people and is there for you if you need it.

I pay $1811 per month for just myself … I’m 62. I pay triple so low income people can get it almost free. I’m paying for you. Plain and simple.

I never had a health problem in my life, then at age 61, I was diagnosed with a rare appendix cancer. I required a big surgery and a long recovery time. The cancer was removed and I continue to work and get health coverage through my job. I will work until age 66 when my wife is eligible for Medicare. Health expenses are not cheap and as you get older, you need to be prepared for expensive health problems.

Love you and Tammy ! You really do put out some great information on Social Security and it is appreciated.

It is refreshing to watch a channel about basic day to day life. Working in some capacity as long as you can is smart. Retirement will kill you if you are not careful.

I am 57, my employer doesn't provide group insurance and I have the ACA. I plan to retire at 62 and continue to have the ACA until I am 65.

You are giving a gift to the community. Thank you for your advice.

Thanks Tim! 🎉Great information as we weren’t sure how health insurance works before 65. My husband is a few years older than me. If I retire at 60 he will be 65 and Medicare age. We weren’t sure how to handle things before I’m on Medicare. Miss Tammy and you go have a blessed day in that beautiful sunshine 🌞!

Never go without health insurance. Even a minor surgery can cost tens of thousands of dollars without insurance. A major surgery like a coronary bypass (open heart) can cost $500K.

The ACA does have an open enrollment period. However you can still apply if there has been a change in your insurance outside of the open enrollment period. My employer notified me they were dropping my plan on July 1. I applied for ACA outside of the open enrollment period, and told them of the change. I was approved immediately, and allowed to select a plan. Also, you are taxed at income tax time if you do not have health insurance. That is why ACA approves you outside of open enrollment if you have a change in your insurance so you do not face the additional tax at income tax time.

I just came across your videos yesterday, thanks for doing them. I turned 59 in May and getting out at 62 is the plan, you've given me a few things to think about, thanks again.

I qualify for a 1115.00 tax credit a month. I chose the BCBS Silver low deductible and max out of pocket , the premium is 1258.00 a month my cost 138.86… Tim is right ! 62 and done in 3 weeks , will do side hustles but free at last oh lord I’m free at last.

One thing you can do to lower your income is to open a tax deferred IRA and you can put up to 25% of your income in that. That won't count as income to the ACA. I have Sep IRA etc.

your channel is helpful for the many people out there who are going to have to survive on limited resources. nobody can afford those cobra premiums that typically run about $1500/month, or more. i know people who are stuck at jobs because of the healthcare issue. further complicating this is when they are covering a spouse. i'm on medicare and the payment automatically comes off your social security. one less bill to have to pay every month.

Good advice given in a down to earth way. ACA program kept my family healthy and calm during the COVID years. It is unfortunate that so many people are getting kicked off Medicaid now. This shows a need for comprehensive coverage.

Depending on which state you live in - the affordable care act can easily be out of reach. Very high premiums, very very high deductibles. For many the ACA just puts money into the insurance companies. Its terrible.

This is my first year with ACA. Had been on my husband's employer plan until our divorce. ACA is strict about their enrollment deadlines. I missed it and just went without it for a year. Now I pay $0 for kind of a catastrophic medical plan and $10 for dental Very high deductible but an emergency shouldn't bankrupt me. I avoid doctors like the plague. The subsidy amount may need to be reported as income at tax time so I'll see how that works out. ACA is worth checking out.

We have an insurance agency in our town (I'm sure they're all over) that specializes in helping you sign up for Obama Care. They will spell out all the options and how much they all cost. We got subsidized as long as our income stayed below a specific level. The same agency also guided us through Medicare and supplemental medical insurance when we turned 65. It's really not that complicated when you have someone explain it to you in everyday language and answer your questions. There was no charge to us for this service.

Thank you for mentioning the “mental aspect!” You are the first SS vogler that if heard state this. I’m retiring early because I loathe my current job and do not want to start over elsewhere.

Tim, I stumbled across your channel about a month ago and really enjoy the videos. Keep crushing it and stay healthy and happy.

Retired young at 54 to take care of my parents with a pension and insurance for $400 a month, went to $600 the next year, switched to Obama care, got it back down to $400 but went up the next to $600. No insurance for years, then in 21 was able to get it for $300, paid for 2 years, let it drop due to needing major dental work, had to use the money for that. Turned 62 last month and starting SS, yeah🎉 After struggling for 8 years, i finally will be ok with 2 checks coming

The Burger King in our town has a sign in the drive through that they provide health insurance for free if you are working 20 hrs per week or more. It may be an option if you want pt work.

This was pretty informative. Thanks. There are options. Hopefully it doesn’t get changed around too much. Some people get nervous about getting the government involved in their business. But, as we get older we most likely will need more medical help.

Hi- word of advice....every other video on youtube that I watch giving advice regarding social security, savings, insurance, etc always state that what they are saying is just their own opinion and that they are not a financial advisor and to consult one before making decisions... I think, as much as you talk about taking social security at 62, health insurance etc., you may need to consider protecting yourself by making such a statement. There are people who really can't stop and think for themselves to do their own research t see what is best for them, do what someone on youtube says worked for them, have an issue and then want to come back and blame you for "advice" they followed. Something to consider...maybe you have a lawyer friend who can advise you. :)

If you're in a state that hasn't expanded Medicaid and your income is Medicaid level for ACA you won't get assistance for the premium because theoretically you should qualify for Medicaid. So unfortunately there are States where people cannot reasonably get insurance if they are low or no income. Some states have also done a much better job at putting their ACA group plans together while others have tried to sabotage it because politics was more important than actual people.

Wonderful information 👏🏻⭐️ Thank you Both so much for always being so inspiring 🥰 Keep on Crushin! From SI NY

If you have a life-changing event like losing your job or retiring, you are able to enroll in the ACA at that time you do not have to wait there is a hotline number they have counselors that will walk you through the process. Please make sure you call the proper number for the ACA.

I was paying $800 month through work, cobra was out of the question. Applied for Obamacare and now pay $0 per month. Deductible is high but thankfully I'm healthy

Good info. Tim & Tammy! Being without Med. Ins., today is scary! The quickest way to "Bankrupcy"! What I have noticed is that @ 70 yo.....🩹the wheels start to fall off! 🩺 LOL Walk, watch your diet, stay away from Carbs and Sugar !!! Crush it! Cajun

Thanks for the info Tim snd Tammy im doing my social security and working 3 days a week for my health insurace works out till 65

The affordable care act is a scam. I am handicap and waiting for my day in court . I called and even though I don't work and haven't in years they said my insurance with them would be about 4 to 6 thousand a month and 15 thousand deductible because they are claiming my husband's income as mine. There is different prices for different states

Thanks for this - I'm thinking if there is a layoff at my company, I might just retire since I'm 62 in Oct. Nice to know the ACA has it cheap.

I’m self employed and the ACA has been horrible. My premiums for myself and my employees has skyrocketed. My wife and I are 63 and 64 and paying $2500 a month for the two of us. It has crippled small business. An unfair amount of the cost burden has been passed onto businesses with fewer than 50 employees

Thank you for this. Very helpful information! We will be moving back to Michigan soon when my husband turns 65. I will have a few years when I’ll probably need to go on the ACA before I’m able to be on Medicare.

The only thing that would give me pause about the exchange is that I would need to see it in writing that the ACA insurance doesn’t act like Medicaid. With Medicaid they will put a lein on your house so they can get back the money they spent on you. If that’s the case I’ll work until I’m 65 because I’m not giving the state my house. It’s nothing special but it’s mine.

This is what I did starting at age 59. I took my pension which is $2800 which is a low enough income that the obamacare pays for it. $30 a month and one year it was $1 per month. But one thing they did was go from no deductible to a $3,000, then a $6,000 one. But it's still insurance. My problem is I'm now 62 but if I take that $1700 now, then I will have to pay something like $300-$350 a month which means your really only getting less than $1400. If I really needed it then yes it would still be worth it but since I don't really need it to survive I'd rather wait until 64.5, 65 and not have to pay that $350 a month for 3 years, then when medicare kicks in, I will start taking SS. Also, since I make less than 40K starting at age 61 my property taxes went from $4400 a year to $700 a year which was a program I did not know about. A senior discount.they even gave me a rebate for the year 61, and mailed me a check for $3,000. so if I take SS now, my income goes up to high and out goes that discount. So for me, not paying the extra for health insurance and not paying that property tax bill every year adds up to something like $22,000 over 4 years that I get to keep by not taking SS until 65

I went with a Health-share for many many years. $302/month for an individual. It’s not insurance but worked out for me. I will soon be on Medicare.

Your doing a great job Tim keep up the good work

Last time I applied to ACA my premium was going to be $900/mo with not so great coverage. Impossible for me so I gave up. But I wasn’t that old. 50 something. Now 55. Just glad I’m fairly healthy so far. I don’t qualify for squat and even if I did it would cost a ton more than just winging it at clinics from time to time and paying out of pocket. I only had to go once to a clinic in the last 5 years or so for a random staph infection. And most times dental is either not covered or barely covered anyways. So I’d have to also plan that on my own as well. But maybe it will be more advantageous for me by age 62. Praying that I stay healthy at least as long as that or until I can get any decent coverage. And I’m still young enough tho. I may yet seek out a job that offers some kind of health insurance perks as well. Not all employers do tho. It’s been a long time since I’ve had that sweet job with 80/20 coverage.

I would live to retire at 62, but I have a life threatening disease and there is no healthcare plans that will cover me. If I live to 63 1/2, I'm 58 1/2, I will retire and use Cobra unti I get Medicare. 😢 The other option is that with a terminal disease, I can cash in my life insurance policy and get 75% of my benefit...around 50k. So much to think about. Depending on what I find out in a couple weeks from my scans, I may consider quiting my job and going on ssdi. So much to consider.

I currently pay $1100/month for Obama Care . 9500 individual max, 18K family max a year, for both my wife and I. We are both 64 and both currently under treatment for cancer. Treatment started for me in 2022, I have paid deductibles in 2 calendar years. Not so affordable. Can not retire and pay premiums like that.

I served 5 years in the US Coast Guard so I'm considering using the VA for this period of time until I qualify for Medicare.

What other advanced nation makes their people jump through so many hoops for healthcare? Where else is healthcare so complicated and expensive? Where else is healthcare considered a privilege rather than a right? It is easy to see why no other advanced country copies the American healthcare model.

I pay like 650 a month for Kaiser for me through the county and 775 for the ACA for my wife. ACA is a joke, if your over six figures they only help me like a buck a month. Once on SS i wont pay a penny because the county will give me 700 a month to pay for part B. I sometimes think about not having insurance.

I am 58 and planning to retire at 62 and will probably use Obama Care then. I think my 'income' between the SS and a pension would be around $2400/month and with wife, that's enough 'household' income to get some great insurance through Obama Care. I can use my various real estate paid-for properties to sell them, downsize and draw some annuity to supplement income. But I am also a workaholic and so might work part time after 62. But all the plans are dependent on staying healthy--so far, I have never spent even a day in a hospital and I don't take any prescriptions at all. Fingers crossed.

I had commented on another of your videos asking about health insurance and just found this, so I am watching!!

Just the words I needed to hear. You crushed it brother! Hi to Miss Tammy!

I have a buddy in the marina that sold his business at 61, makes ZERO dollars, lives off savings and he gets ObamaCare for $37 per month on a plan that’s comparable to the plan that he and his employees got when he owned his RV dealership. As a CONSERVATIVE this gave me brain damage. I’m sorry, but I’m thankful that it’s there as an option. We will be going that route when I retire in a year.

At age 65 you have to enroll in Medicare. The Gov't will not allow a commercial plan to sell you an inexpensive, high deductible plan. The Gov't charges very expensive premiums for those that have a good retirement income coming in. THey call it IRMA. It's basically like an additional income tax. They tax your retirement income and other income based on your AGI. Based on your AGI they hammer you with an additional tax which they add to your Medicare premium. For my wife and I it is our largest monthly expense at $595 each. Look up IRMA and you will see more info on it. It is a screw job in my opinion.

Hi Tim! I'm in CA and retired at 62. Did Covered CA and qualified for a subsidized plan with a very low monthly premium. Be aware, however, you have to claim a percentage of the subsidey on you taxes- ouch!

Good Video. YOU NEED TO PLAN. ACA has specific income limits and like Federal tax it is tiered but unlike Federal tax once you pass each threshold your entire subsidy is reduced. It's based upon income, including distributions from tax exempt 401K, IRA, SS, pensions, capital gains, etc. The values are pretty low and based on poverty levels. You'll want to plan when you start SS, pensions and tax deferred distributions. You may have to plan on living off of some cash or Roth distributions.

Great advice ….i was fortunate enough to retire at 59 and the ACA was a godsend

I found you through your social security videos. Thanks for the infos.

Hey Tim , I enjoy most of your You Tube postings something to look into as a side gig as I do here in Arizona I do piece work for Survey merchandising don’t know if they have it there in Florida. Maybe they do FYI. Roger R

Being self employed i have been on the ACA and it is basically the same BCBS plans available if you are not on it. So don't think that you cannot get good insurance ont the program. HMO has been better and cheaper for me than when I had a PPO.

Obama Care for me and the wife. We have a basic plan and it costs us $26 per month. Yearly primary care visit and some dermatology work. Most important is that it covers any major issue like a heart attack.

I retired early at 59 back in 2021 mainly due to having my VA benefits....to include disability and medical coverage. I also drew my ss early at 62 (had my highest 35 yrs of indexed earnings)and have never looked back. I make my own decisions, based off of my own research....it's worked out well for me. Being single has made retirement a bit easier and less stressful also

I wish I had the level of patience that you have . 😂

I haven’t seen $300/month rates in YEARS, since Obamacare came into effect. We are a small business, and I’m 58, and my health care is $1500/month!! 😮😖🤬😵‍💫

ACA! If you aren’t working and living on savings won’t cost you anything in WA state. Once you start tapping into retirement funds and paying taxes they will base it on that. In WA you can make 1600 mo in income and qualify for free healthcare. Once you make more than that you’ll have to start paying.

I have the ACA as well. It is great and it saved my life. Great advice

I pay 871/mo for my grandfathered PPO. Obamacare would save me 30/mo. My premium includes about 30/mo contributed to Obamacare. A complete scam.

Sarasota Tim thank you for this valuable info.

Another tip: working part-time with group health benefits purchased at work. Keep on Krushing it Tim 😊

Enrollment period does not apply if you had certain life changing circumstances, including loss of job.

Thanks for following up on my insurance question.

My aca quote was 1950/mth for my wife and I with a 7000 deductible per person. We went with Christian Healthcare Ministries and the cost was 1/4 of that.

In some states is illegal to be uninsured

56 I have rarely gone to a doctor. Thank God . Stay healthy people

Thanks for the valuable information Tim! This will help me since I am planning to retire soon! Are you surprised so many people are opposed to the ACA?

You may qualify for a special enrollment period if you lose coverage when you retire from your job.

Love you Nick! Happy New Year 2024🎉Your amazing & I am sharing your inspirational videos. I'm in your ole neck in the woods in Del Mar where you used to be. I hope to someday travel to your Thailand retreat and hang out with you!! Blessings, Dr. Michelle ☺️🙏✌️

The affordable care act Yes is based on income If you make 20k or less it’s affordable almost 0 cost After about 20k you start paying more Up to about 28k it tops out U pay about full price U can enroll I think most of the year If your retiring That’s an exception on enrollment time Yes late in the year is enrollment for reg people the avg joe These are just rough numbers not exact I’ve been in this program That’s one benefit insurance that’s some what affordable Don’t quote me on exact times , cost etc But I’m close At about 18k income it’s like 0 cost to you It’s paid for So yes ck into it Your correct Tim I was going to yell at you about having to get insurance Lol but you corrected yourself on that. Thanks good job there

ACA plans are better than nothing BUT the deductibles tend to be very high. In other words, unless you have a major medical event you will be paying for just about everything.

I retired from my corporate job of twenty years and got a job as a school bus driver lol! I am buying back my four years I drove a school bus twenty years ago so I can retire with the county in five years instead of ten..my health insurance is only $30 a month! But when I turn 62 and retire from the county, there will be about three years until I get Medicare..thanks for the video!! Awesome info!

Thanks for sharing your thoughts on health insurance. The one major glaring point I have, that I’ll share with you today, is what’s called “open enrollment”. That’s a crock of crap. I wonder how many people have died because of unaffordable or missed open enrollment “healthcare” insurance “choices”.

i worked for a government agency which provides retiree insurance plan for approximately $100 more a month than active employees. That $100 extra is paid until I reach age 65 .... Medicare.

COBRA is like a snake that will bite your wallet.

I retired from the Federal Government and have Health Insurance for life. It's the only reason I stayed as long as I did at a job I hated.

I retired at 55 (63 now) and the only reason I’m holding off taking SS till 65 is because I’m living off pension and using ObamanationCare (free healthcare) untill then. If I take SS now it would put me over the program income limit and disqualify me for the free healthcare. I’m saving over $1k/mo. Further, holding off on SS accrues higher monthly SS payments for the future anyway. Nice video 👍

ACA was a saving grace for me and my children

The cheapest I saw was 411.00 with a 9000.00 deductible, that's ridiculous

Did you mention looking into a Medi-Gap policy? Great videos Thank You

One reason NOT to take SS at 62, keep income low enough to qualify for Obamacare. So its not quite that simple to take SS alt 62 all cases. Some people may take SS at 62 and push them over obamacare limits. Good healthcare without Obamacare subsidies can cost $1000 per month or more.

I do believe that if you have a life event, meaning losing or quiting your job you can sign up for it??? If you want to double check that

Walmart never heard of it, 😊😊 COBRA was very expensive for me. Only had it for 18 months to meet state requirements $500 plus a month now on Medicare and supplemental.

Tim, I recently discovered your channel and I subscribed. I love what your putting out and I'm sure you get that a lot from subscribers. From this video I want to reply to you. Some people are military veterans and they may not realize that they are eligible for VA medical care at no charge if they have no insurance of their own. When I got out of the Navy in 1994. I didn't get medical insurance for two years as I chose to be unemployed. I registered at the nearest VA hospital and received medical care a few times at no charge. I believe prescriptions, or at least the generics are no charge as well. My Dad served in the Navy as well. He actually is just using VA and he he is 89. He said that Medicare has co pays and out of pocket. He never pays anything with VA Medical. I would like you to share that on one of your videos because I'm certain many veterans approaching their 60s may not know this.

I was on Obama(Medicaid} until 65 than they kicked me off. I am waiting until full retirement for SS.

I am employed adult female without medical insurance, called the local affordable care act and unbelievable that I would have to pay $400.00 a month? Where's the help for the working middle class???

My company allows all retirees to remain part of the plan during this time gap at the same rates as those stilled employed.

I retired at 63 so I had to get two years of coverage before Medicare. I got mine through the Marketplace as well. It was expensive but doable

The affordable care act New York City is amazing. The best insurance I ever had and it enabled me to retire at 59. There is an open enrollment, but they also have hardship clauses if you lose your job and you can sign up at anytime if you lose a job or your existing healthcare. I believe each State may be different, it seems like the red states didn't want it so they didn't pay their portion, so I can't speak for those states, but in New York it is great.