Ready For Retirement

Health Insurance Options for Early Retirement

James Conole, CFP® Episode 217

We meet many people who are in a position to retire early. But when they think about healthcare in retirement and not being eligible for Medicare until age 65, they feel stuck, even though they’re ready for retirement in every other way. 

Cole Craven of Move Health Partners chats with James about the healthcare options that are available for early retirees and why there is no one-size-fits-all, “best” solution. He also lays out a general timeline for ensuring a smooth transition between your current healthcare, early-retirement healthcare, and post-age 65 healthcare.


Questions Answered:

What are my healthcare options if I retire before age 65?

What are advanced premium tax credits, and how can I make the most of them?

Time stamps:
0:00 - Cole Craven on early retirement
4:05 - 5 pre-65 retirement healthcare options

9:35 - Determining the best option

11:38 - Advanced premium tax credits

13:27 - Upcoming ACA changes

16:16 - Is low-income strategy a good idea?

18:50 - How/where to get coverage

22:03 - Timeline for pre-and-post 65

24:32 - Wrap-up


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Speaker 1:

Last week on the podcast, we had Drew Shockley from Move Health Partners come and tell us everything that we need to know about Medicare when do you enroll, what are your options, things that you need to do to prepare for that time. Today on the podcast, we have Cole Craven, also from Move Health Partners, here to tell us everything we need to know about health insurance options if we're going to retire before age 65. This is another episode of Ready for Retirement. I'm your host, james Canole, and I'm here to teach you how to get the most out of life with your money. And now on to the episode. Cole, welcome to the show.

Speaker 2:

Hey, James, Thanks for having us. You know, I know you talked with Drew last week and we're excited to connect on Pre-65 now today.

Speaker 1:

Yeah, the fun stuff. So everyone knows about Medicare and there's this odd thing no-transcript that's needed with that. But just because planning is involved doesn't necessarily mean it's impossible to retire before 65. And we'd love to explore what some of those options are with you today.

Speaker 2:

Yeah, looking forward to it, You're not wrong. A personal story on my end would be that my in-laws were in this exact scenario. They were 59 and 60, respectively and they were ready to retire and spend more time with their grandkids and they were just concerned about what the cost of health insurance was and navigating that. And many times, just like what you alluded to, we fear what we don't know and a lot of times we don't even dive down that trail to look at what options are available. And so excited to demystify is kind of the words that I've used in the past for this space, so that's demystify.

Speaker 1:

That's a good word. Let's start with that. So Medicare, simple enough age 65 and above, with a couple of exceptions, you are eligible for Medicare. Let's talk about early retirement. What technically constitutes, or how do you think of, early retirement?

Speaker 2:

What's that kind of age range and how many people are in this type of a position? Yeah, it's a good question. So what we consider early retirement at Move Health is the 55 to 64 window right. So what we know about the 55 to 64 window is that in America there are 40 million people between the age of 55 and 64. And there are a lot of them, just as we spoke about that are ready to retire but are still going. What do I do for health insurance during those gap years, and those gap years being any time between retirement and 65 when you can take Medicare? And so that's a top concern. Most of the time, it's a top three concern. Am I going to run out of money? What are my health care costs going to be in retirement? And so that's exactly what we do at Move Health is help people to navigate that gap, if you will.

Speaker 1:

Yeah, and I think that not only are they terrified, or even just don't fully understand the options for health insurance after they retire pre-Medicare, many of them don't even understand their current health insurance coverage, I would say even as it stands prior to retiring.

Speaker 2:

That's correct. Yeah, I mean, there's a lot of people that are, one, nervous about what healthcare costs are going to be in retirement and then two, the second piece being they don't they genuinely, if you ask them, tell me about your health insurance plan that you have now, that's a question that we ask every single day, and a lot of times it's I think I've got an X insert number here deductible. I think I've got this, I think I have this, um, or my health insurance is really bad and you're like, well, why is it really bad? And they just don't know that they have an HSA plan and everything is, uh, you know everything's subject to the deductible, but they can contribute, and so there's a lot of times people just don't understand what coverage they have, uh, you know, currently.

Speaker 1:

So yeah, and so they maybe don't understand their coverage currently, and if they don't understand that, it can be very difficult, exceptionally difficult, to understand. Well, what are your options when you do leave work? There are options, though, which is the good news, so if we're just going to jump right in and start explaining to people what are the options, we'll go, and we're going to keep this fairly high level. And, just as a teaser for next week, there's a lot of tax strategy that actually ties into this, of what options you select for health insurance and how does that tie into your overall financial plan, specifically your tax strategy. So, cole, we're going to be doing this episode today as a just overview of pre-65 health insurance options. Next week, we're going to actually get into some of the fun stuff. How do you strategize around this to find the options best for you? But for today, just given an overview, I'm, say, 60 years old and I'm retiring today. What options do I have for health insurance for the next five years?

Speaker 2:

For sure. So there are five main options for early retirement, if you're thinking about the gap years, if you will, prior to Medicare. This is in no particular order, but this is the order that we'll cover them in. So first one is the ACA Marketplace. The ACA Marketplace, or also known as the Affordable Care Act also known sometimes as Obamacare was written into law in 2010,. Put into action via the marketplace in 2014. There are some unique things about the Affordable Care Act, one being that you can leverage advanced premium tax credits, which actually help you to reduce the cost of your monthly premium for your health insurance coverage. So that's one thing that's really neat about those. Another thing that's neat about the Affordable Care Act marketplace is that they're guaranteed issue right, and so that means that if you have a pre-existing condition, if you're undergoing cancer treatment, you could go get health insurance through the Affordable Care Act marketplace and, by law, it is guaranteed to cover it. So that's the Affordable Care Act marketplace. There's unique pros and cons to each, and we'll do a double click on that one a little bit later.

Speaker 2:

But the next piece is short-term, major medical and, just like what it sounds like in the title, it's a good fit for people that are typically pretty healthy, and it can bridge a gap between, maybe, job to job or if you just have a couple months to Medicare or a couple months to a different type of coverage. Just have a couple months to Medicare or a couple months to a different type of coverage, whatever that might be. Many times there's a sticking point for short-term major medical, one of them being that it doesn't cover prescription drugs or preventative care, the other piece being that it also has medical underwriting involved, and so short-term major medical operates a lot like health insurance did prior to the Affordable Care Act. You actually had to medically qualify for it and you could be rated up or denied based upon your health conditions or height, weight, whatever it might be. So that's an option as well.

Speaker 2:

The third option we'll talk about is retiree health coverage benefits through your previous employer Not to be confused with COBRA we'll touch on that in a moment but retiree health plans specifically. What we know is that sometimes larger employers will offer a retiree health benefit, and this can be something that can actually bridge the gap from your retirement age all the way through to 65, and, in some cases, even beyond. But a couple things to note about retiree health benefits. As time goes on, and in my time in the space, we've seen retiree health benefits get. As time goes on, and in my time in the space, we've seen retiree health benefits get skinnier and skinnier and skinnier. Many times folks believe that you know the retiree health coverage benefits are actually the same benefits that they had when they had their job, and many times that's not the case either. It can actually be a totally separate plan, provided by the benefits administrator, from that employer, and so be certain that you do your homework on what the actual coverage benefit is in retirement if you have one available through your previous employer.

Speaker 2:

A fourth one that we'll touch on here, james, is the healthcare sharing programs. Many times these have a faith-based component to them, and these are not insurance, but they operate somewhat similarly, depending on what program you go with. So, all of that to be said, many times you have an annual household portion or a share that you would pay in every single month and that would be pooled among other members and then paid out and administrated by the membership program, and this is something that's increasing in popularity and on the rise as we think about people maybe sometimes wanting to avoid the Affordable Care Act, for whatever reason, or sometimes this can provide a lower cost alternative to traditional health insurance, and so that's an option. The last option is COBRA. Right, this is not a snake, it's not a car, it's health insurance benefits.

Speaker 2:

That's actually a continuation of benefits through your employer if you had 20 or more benefits eligible employees, and so COBRA is a good option for some people if they're retiring mid -year we're mid-year at this point, summertime and if someone has already maxed their deductible for this year or met their out-of-pocket maximum or whatever it might be. Many times we'll tell someone hey, stay on COBRA for the remainder of the year. Yes, it is likely the most expensive option that is out there, but you've already spent into your plan. The alternative of that being, we've seen where people stick with COBRA because it's what they're familiar with, and many times that ends up costing them thousands of dollars more than comparable coverage outside of COBRA options. So those are kind of the five main options ACA, marketplace, short-term major medical retiree health coverage benefits, healthcare sharing programs and COBRA. I'll give an honorable mention, for if you have a spouse that's still continuing to work and they have health benefits, always look there as well.

Speaker 1:

Yeah, it's funny you say that about COBRA so often. It seems like that point that I'm familiar with that, even if I have no idea what my benefits are or how good they are, how expensive they are. This is the coverage I've had. Therefore, it doesn't seem too scary to continue on, and assuming you know you don't need coverage for that long maybe you're 64 and you're going to be 65 next year and you say I'll just bridge the gap until Medicare might be an option. But I think that what we want to flush out here is not just what's the option that you're most familiar with and how do you continue it on, but what's best. Because even as I listen to you speak here, cole, when I launched Root, I did one of those health share programs hey, it's just super low cost, I'm healthy, I just need to avoid any major disastrous problems type of cost that's going to sink us. And so I think it was like a Metashare type program. And then it was okay, now I need to get something on the ACA or an ACA eligible plan, and then ultimately became group coverage for the company. It was just like what a maze to work through to figure out what makes most sense.

Speaker 1:

What are my coverages here? What's going to be most cost effective? The question is going to come up. So there's five options with a you know, honorable mention to if your spouse is covered. There's there's an option there too. What's best for me? What's best for most people? How do you go about determining that?

Speaker 2:

It's probably not something that you say very often. I'm kidding here. It depends, right? We say this a lot, you know, every single day, when our team is working with you know, early retirees. We're talking about each of these five options and I would venture to say that every day, each of these five options is part of the game plan, and so it really genuinely depends.

Speaker 2:

These are things that we would look at like what's your current health history? What does that look like? What you know that can narrow it down really quickly for us. If we've got, you know, active, like that can narrow it down really quickly for us. If we've got active cancer treatment or a heart attack or something along those lines that we need to be thinking about that's happened recently or a joint replacement or whatever it might be, we're immediately going to go to the Affordable Care Act marketplace because you're going to need a guaranteed issue benefit. So that would be like a situation where we would begin to narrow things down. But it depends on do you like to travel? What doctors do you like to see? You know what is your? What is your expected budget? What's your income in retirement? Can we leverage advanced premium tax credit? So the answer is it really? It really depends.

Speaker 1:

What it depends. What option do you see people that are retiring earlier than 65? Which option are they most selecting?

Speaker 2:

It's a great question. So I would say, you know, from our perspective, the Affordable Care Act marketplace is the direction that we see most early retirees going, for a variety of reasons, one being, once you hit your you know, 55 to 64 window, most of us are not without some type of health condition at that point. The lucky ones that aren't, you know, look at other options, and sometimes they still look at the ACA. But you know, and then the other piece being to that is, we can leverage those advanced premium tax credits which we'll do a double click on here in a little bit to, you know, help actually reduce the cost of their health coverage, and so that's the one that we see most early retirees making their way to. But it's important that, whatever you are doing in your you know, early retirement health insurance planning, that you're reviewing all of the options that are available to you, which is why we talked about all five of those today.

Speaker 1:

Yeah, and so quick. Just reminder to everyone. Cole does this. This is what his company does Move Health Partners. So we'll have a link to Cole's company in the description. We'll talk about this more in just a second. But you mentioned the advanced premium tax credits. What on earth does that mean, cole?

Speaker 2:

Advanced premium tax credits. Okay, so there's a couple important things to note. The advanced premium tax credit is a big, long phrase that basically means subsidy or discount on your health insurance. A couple key designators that we need to add to the beginning of this part of the conversation. Is that one you know you can't.

Speaker 2:

These advanced premium tax credits only apply to Affordable Care Act marketplace plans, so you can't use tax credits with Medicare.

Speaker 2:

You can't use tax credits with your employer coverage, so that's one piece. To be eligible for tax credits, you can't have coverage through Medicare, medicaid, which is low-income, state-based health insurance, or employer coverage, right? So no Medicare, no Medicaid, no employer-based coverage. You have to be someone who buys your health insurance outside of a job pre-65 to be eligible for tax credits, and so advanced premium tax credits. What essentially they do is there's a gross premium for your health insurance costs that you buy through the ACA marketplace and, based upon your income, the federal government will subsidize a portion of that premium and you will pay the net. And the reason they call it advanced premium tax credit is because it happens every single month, right? So they're paying their portion or their subsidy of the advanced premium tax credit directly to the insurance carrier, you're not receiving it and then having to pay it over or anything along those lines, and so it reduces the cost of health insurance for those that are enrolling into ACA coverage based upon their income.

Speaker 1:

And just as a teaser for next week's episode, we're going to talk all about that. How do we strategize around, how we create or manufacture our income in retirement to either qualify for these tax credits, to do things like Roth conversions, to factor in things like tax gain harvesting. So a whole bunch of planning there. That's the fun stuff for next episode. Right now we're just laying the groundwork for that. There's going to be some changes. There's been some recent changes. It sounds like some changes are maybe coming. Do you mind elaborating on what that might look like for this type of insurance coverage goal?

Speaker 2:

Yeah, so through the ACA, there were some unique changes that took place. So, like I mentioned earlier in the conversation, 2014, the Affordable Care Act marketplace took hold and those advanced premium tax credits were put into place right away. Right, as you can imagine, anytime that you tell an insurance carrier they have to give health insurance coverage to anybody that applies. What do they do? Well, they raise their health insurance rates, and so rates went up 300% overnight on January 1st 2014. And because of that, the government at that point knew we need to figure out a way to subsidize this cost. Those advanced premium tax credits were put into place. Now, prior to 2021, you had to stay under a certain income threshold to take advantage of these advanced premium tax credits. For example, a married couple in 2021 needed to keep their income below $75,000, thereabouts to take advantage of these advanced premium tax credits. If, for whatever reason, they estimated that they were going to make $72,000, they actually made $90,000 because of cap gains or whatever it might be, they would actually have to repay all of the advanced premium tax credits that they took if they would have been underneath that threshold. And so in 2021, the American Rescue Plan Act actually removed that income cliff, as we call it, and so now advanced premium tax credits really act like a spectrum. There's no cliff in the middle where you lose all of them. Really, the way you can think about it now is, the lower that your income drives, the higher your advanced premium tax credit or subsidy through the marketplace becomes, and vice versa, right. So the higher your income becomes, the federal government says you need less help paying for your health insurance, so we're going to give you less subsidy, and so that was a change that took place in 2021 that really unlocked early retirement for people like my in-laws that were going to retire and wanted to make $95,000 or $100,000 in retirement, but previously that would have made their health insurance costs somewhere near $30,000 a year. Now they spend significantly less than that because they qualify for these subsidies on the marketplace. Now, one of the changes that's upcoming is that was part of an act and it did have a sunset date at the end of 2025.

Speaker 2:

Now, one of the changes that's upcoming is that was part of an act and it did have a sunset date at the end of 2025. Now, purely speculative at this point as to what will occur at the end of 2025, and I don't have a crystal ball. You don't either, right. But what we know is that these have helped millions of Americans to retire early or to gain access to health insurance coverage. And so, speculating, we don't believe that this enhanced tax credit is actually going anywhere at the end of 25, that it'll be extended once again. So those are some of the changes. I would be remiss if I didn't mention that they could potentially go away in 2025. We just need to make certain we make mention of it In 2025 or the end of 2025?

Speaker 1:

The end of 2025. Got it so going in 2026. And now I'm hearing this cold and saying, okay, cool, the lower I can keep my income. Which other podcasts we've talked about? Look, if I just live on cash or qualified dividends, I might have a zero taxable income or very low taxable income. This might cause me to think if I'm 60, I'm getting close to retirement why wouldn't I keep my income as low as possible to make my health insurance costs potentially nothing? Why would I not want to do that? Or should I do something like that?

Speaker 2:

Yeah, that's a great question. So you know, there is actually a point where you can go too low on your income, and we can talk a lot more about the actual strategies next week when we discuss, you know, kind of diving into what those actually look like in action. But there is certainly a strategy for keeping your income lower to qualify for more subsidies, and so you're the expert in this space, james. But if it's taking from non-taxable dollars or living off of cash for a couple years, or whatever it might be, and driving your income lower, you can qualify for more of those tax credits. And you can actually get to a point where you drive your income low enough that the advanced premium tax credit that you receive actually outweighs the cost of a plan on the marketplace, which then makes your health insurance coverage $0, right, which is really cool. But there is a point where your income can actually go too low, and so you know, all of these tax credits are based off of a table, and I could get really nerdy and pull up the table here. But, um, you know, all of these tax credits are based off of a table. Uh, in relation to the federal poverty level, right, and so if you actually go below the federal poverty level, which, in a state like Indiana or California with expanded Medicaid, you'd go under the Medicaid threshold If you went beneath. Uh, you know, say, as a couple, you went beneath $28,000 a year in MAGI.

Speaker 2:

And so there are many times where an early retiree comes to us and says, hey, I've got $0 in taxable income. I want the $0 plan. That's the best you can get me. Okay, no worries, great job that you've done all of that planning. To get to that point, we actually need to go find a little bit of taxable income to bring you above the Medicaid threshold. Because what would happen is you'd attempt to get an Affordable Care Act marketplace plan and through that application process, with $0 in taxable income, they would attempt to push you to Medicaid and Medicaid does what's called an asset review, and so they'd look at your assets and they'd go you don't qualify for Medicaid, you need to go to the Affordable Care Act marketplace. And then it becomes this cycle and where we get to the point where we go, hey, we have to make some taxable income in order to qualify for those tax credits, so you can actually go too low and disqualify yourself for the tax credits, just like you can go too high, so.

Speaker 1:

Yeah. So lots of planning around that, which again teaser for next week. Stay tuned and we're gonna talk about the fun stuff. How should people go about doing this? So they're 60 years old. They're saying Do they go to a website and enroll by themselves? Do they watch this YouTube video and say, cool, now I know everything I need to know? Do they go work with someone? Could you break down the options that people have and pros and cons of those going forward?

Speaker 2:

Yeah, of course. So there are certainly options for how you can enroll, and we encounter at MoveHealth. You know several of those different types of people that are. You know either they tried to DIY it and they're at their wits end, or they had a bad experience with another. You know what another type of enrollment process or whatever it might be. So there are really three main options that you can utilize to take care of health insurance coverage in early retirement. So the first one that I'll touch on is DIY, right? So this is the do-it-yourself method.

Speaker 2:

James, I'm certain you run into people that have DIY their financial plans and they've gone swimmingly, right, they've gone really well. And then you've seen people that have DIY their financial plans and you go, hey, we've got a little bit of work to do here, right? So you can certainly DIY that. We never recommend that on our end, just because we know there's so much nuance to health insurance, so many intangibles, and really the only thing in health insurance that is constant is change. So there's things that are changing year over year. You don't just set it and forget it, and so that's an important piece. So DIY, you can certainly do it. Make certain that you are diligent in your research and you understand what you are enrolling into, because ultimately, at the end of the day, it's a contract between you and the insurance carrier, and whatever that contract says goes right. Doesn't matter what you were told or what you found online or what a YouTube comment said. What really matters is what's in that contract so you can self-enroll or DIY using healthcaregov or going directly to a carrier website, whatever that might look like.

Speaker 2:

Another option might be going directly to the carrier, right? So this would be myself picking up the phone and calling one of the popular health insurance carriers and saying I need health insurance coverage for early retirement and they're going to go great, we can help you, right? The only challenge being the only tool that they have in their tool belt is a singular carrier, right? So anything that they're going to offer you is going to be with that carrier, so you may be missing options that would be available to you outside of that carrier that may actually be better for your unique situation.

Speaker 2:

The third option is utilizing a broker, right? So a broker is someone like MoveHealth, you know, candidly, full transparency. We are a broker, which means that we partner with lots of different insurance carriers and we can see all of them at one time and say, hey, this is what the best option looks like for you, available on the marketplace or through a major medical or through a healthcare sharing program, or you need to stay on your COBRA coverage. It allows us to look at all of the options and take all of them into account and make certain that we're making the best objective decision for a consumer.

Speaker 2:

A couple things that are important about brokers is they vary in size and in quality and licensing, etc. So make certain that the broker that you are utilizing is someone that you feel confident in, that they're contracted with the carriers that are important to you, that meet your needs, and that they're going to be fully transparent. You know, on our side of things, when we talk about Cobra, there's no benefit in it to us to talk about Cobra, you know, financially with you, but from our perspective, we need to paint the full picture, and so make certain that whatever broker that you choose to work with, whether that be move health or someone else, that they're painting the full picture for you and giving you a full understanding of what your options are.

Speaker 1:

Yeah, and then what about timeline? So I'm going back to me as an example. I'm 60 years old, I want to retire in six months. Is it too early? Am I too late? When should I have been talking to someone to get the process started?

Speaker 2:

It's a great question. There's really no time to no bad time to start talking about it, right? Just like when, you know, talking about a financial plan, the best time to start a financial plan is today, if you don't already have one. And so same thing with healthcare planning. You know, in the pre-65 world we like to call it the six-month you know window. That's a sweet spot for us where we can begin to look at options and get you a pretty close ballpark on what your health insurance costs are going to be when you actually pull the trigger on retirement or need to make that transition to individual health insurance. So six months is really a good point to start having the conversation about specific plans, but you can start planning a couple years in advance for what your costs are going to look like and how to potentially leverage advanced premium tax credits on the marketplace.

Speaker 2:

And what do we need to be doing with our income now? Do we need to be converting dollars? Do we need to be doing those things? You know what? What do we need to be doing at this point, two years away from retirement, to prepare for health insurance in retirement? And so those are a couple of things that are, you know, important, but that six month window is really a great spot to be. And then, typically, you know, we can have a conversation, speaking from our experience, six months out, and then we schedule another conversation where we're about a month out or within a month, where we actually help to enact the game plan that we laid out the six months previous. And so you know, six months is that sweet window to start talking about health insurance and really getting into the nitty gritty details.

Speaker 1:

Yeah, and then what about on the other side, cole? So someone successfully gets a plan, wherever it might be, they're able to retire a little bit earlier than 65, and then 65 does come. Is it a challenge to move from that plan to Medicare, or what does that process look like?

Speaker 2:

Not necessarily a challenge, but there are a couple of things to look out for, and I'm certain that you and Drew covered off on a couple of those topics. But when you hit Medicare age and you are enrolled in health insurance coverage outside of a job, it is important that you transition to Medicare for a variety of reasons you want to avoid any late enrollment penalties or things along those lines, but also many times insurance carriers will say hey, if you're Medicare eligible and you're 65 and you're still on this plan, you don't have coverage anymore, right? And so they'll say hey, you're Medicare eligible, you need to go over that way, um, and so important that when you hit Medicare age, that you actually make that transition to um and don't stay on individual health insurance, cause there's a whole variety of things that could go wrong at that point.

Speaker 1:

Yeah, yeah, something that requires continuous planning. It doesn't need to be all that in depth. Sometimes it's just make sure you're on top of it, because you don't want to miss some of those deadlines. Cole, what have we missed? Next week we're going to talk about the strategy stuff. We'll dive into that, but anything else that you want to make sure we wanted to go over today, or, if not, how can people get in touch with yourself or your company if they're interested in learning more?

Speaker 2:

no-transcript insurance and retirement. The other piece that I would mention to it is make certain that you, beyond being educated and empowered, that you do block out some of the noise, right? There's a lot of people talking about a lot of different things when it comes to health insurance and retirement, and you're going to see a lot of personal bias of I had an ACA plan and the experience was terrible. Or I did COBRA and it was an awful experience. Or I had a healthcare sharing program and it was excellent. It worked perfectly for me. Just because it worked for someone else does not necessarily mean that it would work for you, or vice versa, that it won't work for you. And so make certain you know, going back to that education piece, that you understand what options are available to you. And then, as far as getting a hold of us, you know you can Google us, move Health Partners. You know we'd be happy to assist and walk you through that process. There's a form on the website you can fill out and we'll reach out to you and begin that conversation about health insurance and early retirement.

Speaker 2:

Our team always, always starts with education first. Many times, you know, early retirement is the first time someone is having to buy health insurance coverage outside of a job, and so it's really important that we start with education because, as we talked about at the top of the conversation, you know, 60% of people don't even understand how, what their current health insurance coverage is, let alone what the future looks like for their health insurance coverage, and so we'll always start with an overview of what your options are available to you, a thorough needs analysis, and then from that point, we can actually create a game plan and then actually implement that game plan and help you to enroll in that policy as well. But you can reach out to us movehealthpartnerscom. We'll get the job done Great. But you can reach out to us, movehealthpartnerscom.

Speaker 1:

We'll get the job done. And to add to that, I know you and Ari Taubly from our team here at Root kind of co-wrote an ebook of what do you need to know prior to this. I'm going to include a link in that as well, which also includes your information as well. So that's on YouTube, in the description, on the podcast, in the show notes. So, cole, thank you. This is great. This, this is great. This is just the overview. This is what are your options Next week. We're going to be talking about how do you strategize with those various options, not just to understand health insurance, but to understand health insurance in the context of your specific financial plan and, specifically, that tax strategy piece. So, cole, thanks for being here and we'll be back again next week, of course. Thanks.

Speaker 2:

James.

Speaker 1:

Hey everyone, it's me again for the disclaimer. Please be smart about this. Before doing anything, please be sure to consult with your tax planner or financial planner. Nothing in this podcast should be construed as investment, tax, legal or other financial advice. It is for informational purposes only. Thank you for listening to another episode of the Ready for Retirement podcast. If you want to see how Root Financial can help you implement the techniques I discussed in this podcast, then go to rootfinancialpartnerscom and click start here, where you can schedule a call with one of our advisors. We work with clients all over the country and we love the opportunity to speak with you about your goals and how we might be able to help. And please remember, nothing we discuss in this podcast is intended to serve as advice. You should always consult a financial, legal or tax professional who's familiar with your unique circumstances before making any financial decisions.

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