When you’re planning for retirement, you may not think that health insurance is an issue since Medicare exists. However, Medicare is generally only for those who are 65 and older, or those who meet certain other eligibility criteria. If you retire before you’re eligible for Medicare, you’ll have to find an alternative source of coverage.
Maintaining health insurance when you retire is essential for your financial security since your health needs increase as you age. Without insurance, you could be on the hook for thousands in medical bills. For example, the average cost per hospital stay is $11,700, while treatment for cancer can cost hundreds of thousands of dollars.1
To help you find the right coverage for you during retirement, we examined 18 providers of health insurance geared toward seniors. We evaluated these providers based on their coverage options, costs, and provider networks. Here are our choices for the best insurers
The 5 Best Health Insurance for Retirees in 2021