One of the biggest challenges of early retirement is figuring out how to afford healthcare before Medicare kicks in at 65. Many Washington State employees hesitate to retire early due to high healthcare costs—but with the right strategies, you can retire earlier than you think!
In this episode of the Washington Retirement Planning Podcast, we break down realistic ways to cover healthcare costs, including:
✅ Cobra vs. PEBB Benefits – Which one is right for you?
✅ Health Insurance Options – Private plans, spouse coverage & state benefits
✅ Paying for Healthcare – Using your pension, VEBAs & investments
✅ Early Retirement & Full Benefits – When can you retire under PERS, TRS, & SERS?💡
Want to retire early with confidence?
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00:00 – Intro & Why Healthcare Costs Delay Retirement
01:12 – Listener Question: When Can I Retire with Full Benefits?
02:04 – Spouse’s Insurance: The Cheapest Option?
02:25 – Cobra Coverage: Pros & Cons
04:00 – PEBB Benefits: Who Qualifies & How It Works
07:17 – Plan 2 vs. Plan 3 Changes (2024 Update)
08:21 – Washington Health Exchange & Private Plans
09:15 – Tax Credits & Hidden Costs of Health Plans
11:36 – Medicare at 65 – What You Need to Know
12:50 – How to Pay for Healthcare Before Medicare
13:39 – Part-Time Work & Employer Coverage
14:35 – Using Your Retirement Portfolio to Cover Costs
17:54 – VEBA Accounts – Tax-Free Healthcare Funding
19:49 – Early Retirement Mistakes & Success Stories
27:46 – Final Thoughts – Why You Can Retire Sooner Than You Think!
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