Reply to Should I stop daydreaming about retiring at 55?

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]FYI

My health insurance for one person age 60 through ObamaCare under the Affordable Care Act runs me $1300 per month with a $7000 deductible. This is a bronze plan and the cheapest option in my state. I do not qualify for subsidies in my state as I earn over $46,000 per year.[/quote]

How much do states differ? Our income will be 120k (pensions and rental income) and I am figuring  $700 a month for both of us. [/quote]

DP: States vary widely--you can look at the options in your state. Just input the age you will be when you need it rather than your current age because age of course has an impact.  If you're retiring at 55 check 55 and 60 so you can get a sense of the increase.   Also, make sure to check the Silver and Gold plans too because in many states these are oddly cheaper sometimes because the best insurer in your state isn't offering a Bronze plan or other reason. [b] If you're planning to move to another state in retirement, make sure to run the numbers there-[/b]-especially if it is a state that has opposed Medicaid expansion as that impacts the health care market as do other state policies.[/quote]
yep. I live in MD where the private market is cheaper than Va. I thought about moving to VA, but the health insurance costs in VA are so much higher.  I ran the numbers between saving on tax and paying for the higher health insurance premium + the oop I would end up paying, and I don't save all that much from moving to Va. [/quote]

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