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Early retirement is defined as retirement before the age of 65.1 If you retire early, you’ll lose employer-sponsored health insurance and won’t yet qualify for Medicare, but there are still options for health insurance for retirees.2 Aflac doesn’t offer traditional health insurance, but we do provide supplemental coverage that can help reduce your out-of-pocket costs for medical care.
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Medicare is a government program designed to help citizens over 65 pay for necessary healthcare.2 If you plan to use Medicare as your health insurance in retirement, you’ll need to wait until you turn 65.
If you have employer-sponsored health insurance, you may be able to extend it for a few extra years after early retirement. If that isn’t the case, you can still find an early retirement health insurance plan that meets your specific coverage needs.
Deciding to retire early counts as a special enrollment period, allowing you to opt into a health insurance plan outside the typical enrollment schedule.1 Early retirement health insurance can fluctuate depending on the state you live in, your income, and how many dependents you have.
If you can’t extend your employer-sponsored health insurance, you can still get a plan through the government, your state, or a private company.
The Health Insurance Marketplace allows you to buy health insurance through the state you live in. In some cases, you may be able to receive certain tax benefits and less expensive out-of-pocket costs depending on your income and insurance plan.1
COBRA (Consolidated Omnibus Budget Reconciliation Act) helps employees receive continued health insurance benefits from their employer if they lose their job or their hours are scaled back. Usually, businesses with over 20 employees are required to honor COBRA.3 COBRA usually can extend health insurance coverage anywhere from 18 to 36 months.3 If you were forced into retirement involuntarily or elected to work fewer hours, you may be COBRA-eligible.
You can always buy health insurance from a private company, separate from what is offered through the state. Typically, you may be able to get better coverage and benefits from a private health insurance company, but it can be more expensive than a state-run program.4
Don’t wait until it’s too late. Help cover yourself and your family with coverage from Aflac.
Get StartedThe cost of health insurance for early retirees varies greatly depending on the plan you choose and your specific coverage needs. Costs can be influenced by the state you live in, your income, your dependents and whether you choose a private or public health insurance plan. As noted earlier, private health insurance options may be pricier than government-run programs.
When choosing the right early retirement health insurance plan, here are some factors you should consider:
Supplemental insurance can offer additional coverage for treatments and costs your primary insurance plan doesn’t cover. Aflac offers a range of supplemental plans that early retirees can use to supplement their coverage:
If you want to retire early, you should have a plan for health insurance coverage. Regardless of the plan you choose, Aflac supplemental insurance can help close coverage gaps and help you further reduce out-of-pocket medical expenses. Our plans come with reasonable premiums that fit most budgets. Chat with an agent today to learn more about our supplemental plans and get a quote.
Get Started
Looking to buy affordable health insurance? Learn what your options are and how to get the right affordable health insurance plan for you.
Health insurance deductibles can vary depending on the plan. Learn how they work and the differences between health insurance with high and low deductibles.
Looking to buy affordable health insurance? Learn what your options are and how to get the right affordable health insurance plan for you.
Health insurance deductibles can vary depending on the plan. Learn how they work and the differences between health insurance with high and low deductibles.
1 Health Care Gov - Coverage for Retirees. Accessed March 21, 2025. https://www.healthcare.gov/retirees/.
2 Medicare - What's Medicare. Accessed March 21, 2025. https://www.medicare.gov/what-medicare-covers/your-medicare-coverage-choices/whats-medicare.
3 Complete Payroll Solutions - Do Employers Have to Offer COBRA? Compliance Tips & Guidance. Published July 18, 2023. Accessed April 9, 2025. https://www.completepayrollsolutions.com/blog/do-employers-have-to-offer-cobra-compliance-guide..
4 Thrivent - 8 Early Retirement Health Insurance Options. Updated January 23, 2025. Accessed March 21, 2025. https://www.thrivent.com/insights/financial-planning/8-early-retirement-health-insurance-options.
Content within this article is provided for general informational purposes and is not provided as tax, legal, health, or financial advice for any person or for any specific situation. Employers, employees, and other individuals should contact their own advisers about their situations. For complete details, including availability and costs of Aflac insurance, please contact your local Aflac agent.
Aflac Coverage:
Accident, A36000 series: In Delaware, Policies A36100DE—A36400DE, & A363OFDE. In Idaho, Policies A36100ID–A36400ID, & A363OFID. In Oklahoma, Policies A36100OK– A36400OK, & A363OFOK. In Virginia, Policies A36100VA – A36400VA, & A363OFVA. A37000 series: In Delaware, Policy A371AA & A371BA. In Idaho, Policy A37000ID. In Oklahoma, Policy A37000OK. In Virginia, Policies A371AAVA & A371BAVA. A38000 series: In Delaware Policies A38100DE – A38300DE, In Oklahoma A38100OK – A38300OK.
Cancer/Specified-Disease, B70000 series: In Delaware, Policies B70100DE, B70200DE & B70300DE. In Idaho, Policies B70100ID, B70200ID, B70300ID, B7010EPID, B7020EPID. In Oklahoma, Policies B70100OK, B70200OK, B70300OK, B7010EPOK, B7020EPOK. 75000 series: In Virginia, policies A75100VA–A75300VA. Cancer insurance is also known as specified disease insurance in some states.
Critical Illness/Specified Health Event, A74000 series: In Delaware, Policies A74100DE, A74200DE, A74300DE. In Idaho, Policies A74100ID, A74200ID, A74300ID. In Oklahoma, Policies A74100OK, A74200OK, A74300OK. In Virginia, Policies A74100VA, A74200VA, A74300VA. A73000 series: In Delaware, Policies A73100DE & A7310HDE. In Idaho, Policies A73100ID & A7310HID. In Oklahoma, Policies A73100OK & A7310HOK. In Virginia, Policy A73100VA & A7310HVA. B71000 series: In Delaware, Policies B71100, B71200, B7130H & B7140H. In Oklahoma, Policies B71100OK & B7110HOK.
Dental, A82000 series: In Delaware, Policies A82100R–A82400R. In Idaho, Policies A82100RID–A82400RID. In Oklahoma, Policies A82100ROK–A82400ROK. In Virginia, Policies A82100RVA–A82400RVA.
Hospital, B40000 series: In Delaware, Policies B40100DE & B4010HDE. In Idaho, Policies B40100ID & B4010HID. In Oklahoma, Policies B40100OK & B4010HOK. In Pennsylvania, Policies B40100PA & B4010HPA. In Virginia, Policies B40100VA & B4010HVA.
Life, A68000 series: Term Life Policies: In Arkansas, Idaho, Oklahoma, Oregon, Texas, Pennsylvania & Virginia, Policies: ICC1368200, ICC1368300, ICC1368400. In Delaware, Policies A68200, A68300 & A68400. In New York, Policies NY68200, NY68300 and NY68400. Whole Life Policies: In Arkansas, Idaho, Oklahoma, Oregon, Texas, Pennsylvania & Virginia, Policies: ICC1368100. In Delaware, Policy A68100. In New York, Policy NYR68100. B60000 series: In Arkansas, Idaho, Oklahoma & Virginia, Policies: ICC18B60C10, ICC18B60100, ICC18B60200, ICC18B60300, & ICC18B60400. Not available in Delaware. Q60000 series/Whole: In Arkansas & Delaware, Policy Q60100M. In Idaho, Policy Q60100MID. In Oklahoma, Policy Q60100MOK. Not available in Virginia. Q60000 series/Term: In Delaware, Policies Q60200CM. In Arkansas, Idaho, Oklahoma, Policies ICC18Q60200C, ICC18Q60300C, ICC18Q60400C. Not available in Virginia.
Aflac coverage is underwritten by American Family Life Assurance Company of Columbus. In New York, Aflac coverage is underwritten by American Family Life Assurance Company of New York.
Tier One Coverage:
Accident, T37000 series: In Delaware, Policy T37000. In Idaho, Policies T37100ID, T37200ID, & T37300ID. In Oklahoma, Policy T37000OK. In Virginia, Policies T37100VA, T37200VA, T37300VA, T37400VA & T37600VA.
Cancer/Specified Disease plans, T70000 series: In Delaware, Policy T70000. In Idaho, Policy T70000ID. In Oklahoma T70000OK, In Virginia, policies T70000VA & T70000GVA.
Critical Illness, T71000 series: In Delaware, Policy T71000. In Oklahoma, Policy T71000OK. In Virginia, Policy T71100VA.
Dental, Vision and Hearing: In Delaware, Policy T80000. In Idaho, Policy T80000ID. In Oklahoma, Policy T80000OK. Not available NY or VA. Dental claims are administered by SKYGEN USA, LLC. Vision claims are administered by EyeMed Vision Care, LLC. Hearing claims are administered by Nations Hearing. NOTICE: The coverage offered is not a qualified health plan (QHP) under the Patient Protection and Affordable Care Act (ACA) and is not required to satisfy essential health benefits mandates of the ACA. The coverage provides limited benefits.
Life, Final Expense: In AR, DE, ID, OK and VA: Policies ICC21-AFLLBL21 and ICC21-AFLRPL21; and Riders ICC21-AFLABR22, ICC21-AFLADB22, and ICC21-AFLCDR22. Aflac Final Expense policies are not available in New York. Aflac Final Expense insurance coverage is underwritten by Tier One Insurance Company, a subsidiary of Aflac Incorporated and is administered by Aetna Life Insurance Company.
Tier One coverage is underwritten by Tier One Insurance Company. Tier One Insurance Company is part of the Aflac family of insurers. In California, Tier One Insurance Company does business as Tier One Life Insurance Company (NAIC 92908).
Coverage may not be available in all states, including but not limited to DE, ID, NJ, NM, NY, VA or VT. Benefits/premium rates may vary based on state and plan levels. Optional riders may be available at an additional cost. Policies and riders may also contain a waiting period. Refer to the exact policy and rider forms for benefit details, definitions, limitations, and exclusions.
Aflac WWHQ | Tier One Insurance Company | 1932 Wynnton Road | Columbus, GA 31999
Aflac New York | 22 Corporate Woods Boulevard, Suite 2 | Albany, NY 12211
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