Many Americans start to look at their own retirement several years in advance. They consider how much life will cost each month and how much they might need. One consideration is medical insurance. Since most Americans qualify for Medicare, they do not have to worry about the cost as much. But for those people who want to retire before Medicare benefits start, they might have to pay a lot for their own medical plans until they turn 65.
The only way anyone can qualify for Medicare early is if they qualify for it through disability. Other than that, every eligible American gets benefits that start the first day of the month that they turn 65. The reason Medicare was established is because as people get older, health insurance gets more and more expensive. Eventually it got prohibitively expensive and so the government established the Medicare program.
So this is a fantastic solution for people who qualify for Medicare. But the people who do not qualify yet are paying the most for medical insurance than they ever have and the most they ever will. Sometimes monthly costs for plans for individuals over 60 can be up to $1000 a month. For some people that still might be a good deal. Even at $1000 a month if you are taking expensive medicine you should stay with the plan you have.
But many healthy people in this situation have found a solution to their needs through short term health insurance plans. These plans are approved by the governments in each state as full major medical insurance plans. Any major surgery or hospitalization is covered the same as any other expensive plan. All you might give up on these short term health insurance plans are co payments for doctor visits and prescription drugs. But the savings are enormous for the people who qualify for these plans.
If you only need coverage for a few months leading up to the time you qualify for Medicare, save some money with temporary insurance plans. While you can not get coverage before you turn 65 through the government program, you can maintain medical coverage at a low cost with a few months of short term health insurance plans.