Posted July 25, 2024 by Matthew Baker, Director of Sales
Thinking about early retirement? Before you take that leap…looking into what health insurance options may be available to you is one of the most important topics to consider—especially if you retire before you’re eligible for Medicare.
Healthcare costs can add up fast, especially if you’re uninsured or have inadequate coverage. What’s more, as we age more health challenges tend to surface and access to quality, affordable health care becomes more important than ever.
There are several health insurance options to consider, including:
- Joining a spouse’s employer-sponsored health plan. Joining will likely increase the cost of that existing plan’s premium.
- Working a part-time job that offers health insurance until you reach age 65. However, many part-time positions don’t offer health insurance; if they do, that coverage could be greatly reduced compared to previous coverage.
- Joining COBRA (Consolidated Omnibus Budget Reconciliation Act), a temporary health insurance option for early retirees. Unfortunately, COBRA can get very expensive because your past employer doesn’t have to contribute to premium costs.
In many cases, purchasing private health insurance may be the best option for finding affordable, quality coverage to bridge the gap.
Thanks to the Affordable Care Act, every state has a health insurance marketplace/exchange where private individual and family plans can be purchased regardless of medical history — and they are more affordable than you might think.
Plus, you can enroll as soon as you retire. You don’t have to wait until the Open Enrollment Period. Retiring early constitutes as a qualifying life event that triggers a Special Enrollment Period.
Why many are turning to SummaCare for coverage
SummaCare offers insurance options for individuals and families who don’t yet qualify for Medicare or make too much money for Medicaid. Our health plans offer access to quality providers and top hospitals, comprehensive pharmacy benefits, certain preventative services for free, value-added health and wellness programs and more.
Plus, most of our plans can be purchased using financial assistance in the form of government advanced premium tax credit and/or cost-sharing subsidy (if applicable to your household).
Individual and Family Plan Benefits
Our individual and family health insurance plans are designed to meet your needs. Residents of Medina, Stark, Summit and Wayne counties can take advantage of affordable individual and family plan coverage that includes:
- Comprehensive medical and pharmacy benefits.
- 3 FREE office visits on most plans to your SummaCare primary care provider and outpatient mental health services for each person on your policy.
- Access to telehealth visits through Teladoc® Health for in-network providers for general medical, dermatology and behavioral health visits.
- Low copays on specialist office visits and generic prescriptions.
- Assist America global emergency services when traveling away from home, available on most plans.
- Adult vision exam, available on most plans, including vision discounts from EyeMed Vision Care.
Our plans also offer health and wellness services designed to help you feel your best, including:
- Health Coaching, a one-on-one service to help you with lifestyle changes that can decrease your risk for high blood pressure, diabetes, high cholesterol and heart disease.
- Automatic preventive health reminders, so you don’t forget your regular checkups.
- Access to WebMD’s Health Manager online tool, where you can set personal goals, monitor your health progress, track results and set personal reminders.
- QuitCare to help members who smoke put an end to the habit.
- Discounts on gym memberships through HUSK.
- Free yearly flu vaccines.
- Disease management programs for members who are living with chronic or serious health conditions.
What makes SummaCare stand out?
Our focus is always on you and your family. That’s why we partner with your doctors and other healthcare professionals to coordinate your care and manage your health. We want to provide you with the information, resources and tools you need to help you live a healthy, happy life.
What’s more, it is our goal to consistently exceed our members’ expectations. That’s why you can expect the same great customer service with every interaction you have with SummaCare. When you enroll, we will personalize your experience with us, develop a genuine trustworthy relationship, and give you the personal attention you deserve because you are our family, friends and neighbors.
For more information, visit summacare.com/individual for a full summary of benefits for each plan. Then, call 888.291.3790 Monday – Friday, 8:30 a.m. to 5 p.m., to speak with a Licensed Insurance Representative for further questions and assistance.
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