Thinking about my retirement goals and need insight

[Smilinggirl]

Hi everyone. I've been reading over some of the threads about retiring early, MC and SS etc.. and I wondered if you think it's likely that one would be able to purchase health insurance through the ACA market place for at least the next 10 years. I'd like to cut back to part time work. I can pull it off financially, but I won't qualify for heath insurance through work if I do that. I worry that I won't be able to get insurance if the next election goes in a different direction (not trying to start a political debate) and ACA gets cancelled. I have a pre existing condition that doesn't hinder me physically, but it is there in my history so insurance could get expensive without protections in place. Thoughts?

Also, I rarely post here, but I do read regularly and I appreciate what I learn from this site.

[Like2Plan]

Hi everyone. I've been reading over some of the threads about retiring early, MC and SS etc.. and I wondered if you think it's likely that one would be able to purchase health insurance through the ACA market place for at least the next 10 years. I'd like to cut back to part time work. I can pull it off financially, but I won't qualify for heath insurance through work if I do that. I worry that I won't be able to get insurance if the next election goes in a different direction (not trying to start a political debate) and ACA gets cancelled. I have a pre existing condition that doesn't hinder me physically, but it is there in my history so insurance could get expensive without protections in place. Thoughts?

Also, I rarely post here, but I do read regularly and I appreciate what I learn from this site.

It is hard to tell--10 years is a long time. One bright spot in favor of this strategy is recent supreme court decisions that were in favor ACA continuing... But, congress could also get together and change it... Although the part about "congress" and "getting together" seems doubtful, but you never know...

If you go part time, would you be able to revert back to full time if you needed to?

[ua_guy]

Good question. Also, I think it's anybody's guess as to how long the ACA exchange will be around. I don't think it's "just" a matter of the next election or two. ACA has been under fire since its inception, but it's still around today. There have been so many attempts to dismantle, destroy, repeal it. One thing I haven't seen is a good plan to replace it with something better. So many people get their coverage through ACA exchanges.

I don't like this idea that receiving affordable healthcare coverage has to be tied to employment. IMO they should be separate entities and that's where the ACA helps but doesn't completely solve the problem. Good health insurance is expensive no matter how you slice it.

You mentioned working while in your early retirement, maybe part-time. I'd see what's out there that could offer at least some benefits and maybe see if you could work something like that, if you had to. Places like Starbucks make part-time workers eligible for benefits after so many hours. Part-time career work at larger companies may also provide a good benefit package.

[Petunia 100]

Hi everyone. I've been reading over some of the threads about retiring early, MC and SS etc.. and I wondered if you think it's likely that one would be able to purchase health insurance through the ACA market place for at least the next 10 years. I'd like to cut back to part time work. I can pull it off financially, but I won't qualify for heath insurance through work if I do that. I worry that I won't be able to get insurance if the next election goes in a different direction (not trying to start a political debate) and ACA gets cancelled. I have a pre existing condition that doesn't hinder me physically, but it is there in my history so insurance could get expensive without protections in place. Thoughts?

Also, I rarely post here, but I do read regularly and I appreciate what I learn from this site.

The ACA has just survived an administration which vowed to end it. While no one can say with certainty what the future may bring, it seems to me that the ACA is here to stay.

[kork13]

The ACA has just survived an administration which vowed to end it. While no one can say with certainty what the future may bring, it seems to me that the ACA is here to stay.

Trying to look at it somewhat objectively, I tend to agree with this conclusion. The ACA has generally held up pretty well in courts (so it's not likely to get thrown out), and I don't expect that there will be such a dramatic shift in the country's political landscape such as to make a return of the heavy penalties levied against pre-existing conditions viable under future legislation.

[disneysteve]

The vast majority of Americans support universal health care. They vote.
Tens of millions of Americans finally gained affordable coverage because of the ACA. They vote.
Tens of millions of Americans have had COVID, so they all have a pre-existing condition now. They vote.
Before COVID, the estimate was that at least 55 million Americans had a pre-existing condition. They vote.

As noted, the ACA has stood up to numerous court challenges. I don't think it's going away unless something even better comes along to replace it (let's hope for that).