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One of the biggest concerns and stumbling blocks a lot of Future Retiries have and make is in the area of getting Health Insurance. Now, your needs will vary and change due to having a family or being single...

Although the cost of health insurance is continually rising, it is something that most individuals and families cannot afford to go without. So it’s important to understand the different types of health insurance that are available to you, so you can choose the right health insurance policy that fits your budget.

We’ll take a few different options available to you as you transition from a J.O.B. and we will also cover the cases where you have been doing this for a while and are just making the leap to finally get coverage

Before leaving your job

1. Calculate your monthly costs for insurance you are currently paying for coverage to you employer.

2. Get a quote form your personnel department of what it would cost to continue the coverage you have - usually called COBRA - for the 18 months that most policies will allow the coverage to continue. This can become very important if you decide one day that you have had enough and quit, or if you have a pre-existing condition that may make it harder to find good insurance at a good cost.

The offer from the company when I quit was over 1000 dollars a month to keep the COBRA coverage for 18 months. We found much better offers online, as will you.

3. The dirty secret no one wants to talk about… Did you know your credit score affects the price you will pay for Insurance? Credit scoring, the term used by insurance companies to rate your credit, has been a disaster for some consumers. Most insurance companies are now basing the cost of your insurance policy on your credit score.

Missing as little as two payments on credit cards or other financial obligations could lead to your insurance premium possibly doubling. If your credit score is bad, you could pay more when getting an insurance quote. And, regardless of the time you have been with your insurance company or your loss history, a low credit score could lead to a higher insurance premium or possible loss of your policy. I have found a service that by using the free trial option will let you get a handle on your credit score. After the free trial of Scorewatch, I continued the service and even got one for Stephanie and we now use the service regularly. For the amount of things this information affects in your life, it is well worth the price!

4. The do nothing option. This is a hard call to make, and if it was just me I may have made it also. But with others involved it becomes a different decision. I know what a lot of you are thinking and I was there also. I paid for health insurance for over 25 years and only used the service 2 times for things I caused myself, both were for stitches. (If you ask Stephanie, she well tell you the story after she stops laughing.) So, though at times it may seem like an unnecessary expense, it can be a life saver in that one case you really need it.