If you have retired early, your finances can be a nuanced picture of lifetime savings coupled with ongoing expenses, especially medical bills as you wait for Medicare eligibility.
- Many individuals in this age group have some accumulated retirement savings.
- You may own your home outright.
- You may have chosen to cash in on Social Security benefits at age 62, resulting in a lower income stream than if you waited to age 65 or 70.
- You may receive some income working part-time, or as an independent consultant.
However, there can be shortfalls.
- You’ve had to retire early to care for grandchildren, parents, or other dependents.
- Not everyone has saved enough for a comfortable retirement, especially if retiring early.
- You may carry debt from mortgages or medical bills, which can strain your finances.
- The cost of living, including housing, food, and healthcare, continues to rise due to inflation.
A Flex Benefits accident plan can help cover expenses that could occur during a pickleball game, hiking or when you need a doctor’s office visit, Urgent Care or the emergency room. When there is an out-of-pocket responsibility for healthcare, supplemental benefits can offer:
- Accident insurance to help with your medical deductible responsibility.
- Optional Physician and urgent care benefits that can be used anywhere with no restrictions.
- Critical illness insurance helps with out-of-pocket medical costs for an unexpected diagnosis, as well as for travel costs related to family caring for you.
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