I'm considering early retirement. I also take care of my mother at home. What options are available for health insurance?

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Working a 40 hour week has become increasing more exhausting. If I apply for social security at 62, I then have to consider getting health insurance. Are family caregivers able to receive a "special" low cost health insurance or do I need to look into an HMO? My husband, age 60, is without health insurance. Affordability is a factor. Thank you.

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Unfortunately, I don't know of any special insurance for caregivers. Depending on your state, you may be able to get into a state pool. It isn't necessarily cheap, but they generally take people with pre-existing conditions. Check with your state insurance office for options. Good luck,
Carol
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People living at home can receive Medicare A and B. A takes care of hospital bills at 80% with 20% co pay. B takes care of doctor bills-usually at again 80/20. Additionally your parent will qualifiy for Medicare Part D which handles prescriptions. I would suggest going to a reputable Insurance Agent and sitting down with him to find the right company. He can tell you about a multiple of insurance prescription policies that will help with medication. Additionally in most states a parent if they have spouse in a nursing home or if they have a small income say from social security, may qualifiy for a program called Extra Help which assists with medication payments. If you have a SHIIP representative in your state (call social services department to find out) they are the experts in helping with these sorts of questions. I do believe SHIIP is national org with state and local branches. I would also recommend an attorney whose sole specialty is Elder Care. Such an attorney can help you sort through all the financial issues including insurance that you will face when your parent comes to live with you. There are alot of does and don'ts when dealing with Medicare and later on Medicaid and you want to make sure legally that you don't mess up. Also if you parent is a veteran or is the spouse of a veteran living or deceased there are certain benefits availabe through the Veterans Administration. Go to your local Veterans Service Organization Officer to find help. It is possible that your parent will be eligible for all medical care and prescriptions through the VA. Hospital nearest you. Hope this info gets you looking in the right direction. And I would be very careful about buying a health insurance policy on your parent at this point. Look into other avenues before spending huge dollars on insurance premiums. I am not a lawyer and am not speaking as any representative. Just know from experience that there are other avenues available. Hope this helps
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Thank you for your comprehensive answer, it's most appreciated. Actually, my mother, age 96 and who lives in my home, has Medicare. My question concerns my options, as her caregiver - age 62 (not eligible for Medicare until 65 and not qualified for Medicaid). I'm thinking about taking early Social Security but need options for health insurance. Evidently, Carol Bradley Bursack, the expert named above, does not know of any special health insurance for a family care-giver. Be well.
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