Any healthcare experts out there? I’m trying to figure out this situation and could use guidance. Let me describe my thinking and tell me if it makes sense.
I am 61 and considering retiring next year when I hit 62. My H is already retired, over 65 and on medicare. I am currently buying healthcare through my employer that covers myself and my two adult children (age 23 and 20) paying what they call the “employee plus children” rate. After retirement, I believe I will be eligible to buy insurance for myself off the ACA exchange (right?).
My bigger concern is the kids and what happens to them. My oldest has to option to purchase healthcare through her job but hasn’t yet since she’s been able to stay on my policy for free. Her open enrollment period is at the end of the year. I am considering telling her to sign up for it this year when it comes around since my policy will be discontinued next year. Does this make sense?
My son is in college, His school sells insurance but says the policy starts at the beginning of the school year from what I’ve read. I haven’t actually spoken to anyone there about it yet so I’m not sure if this is flexible. This means if I retire in April, he would be without insurance for several months until the school year starts. Alternately, I could sign him up this August and essentially double pay for a few months. If I did this, I could change my policy to be just employee only starting in January.
Am I thinking about this correctly or is there some other way to do this? Am I correct in thinking that I could buy off the ACA exchange or is there something else I should consider?