We’ve seen many cases of couples and individuals who took retirement early thinking they’d have not only Social Security, but also Medicare to help defray the expenses. Unfortunately, those same individuals have found themselves in a real jam having to try and find other insurance to fill in the gap until they reach 65. You just can’t get Medicare at 62, no matter what anyone tells you.
While sourcing other insurance isn’t usually a problem, the price of the insurance, if you’re 65 or over, is another matter altogether. In most instances you’d need the Consolidated Omnibus Budget Reconciliation Act (COBRA) or to buy health insurance from a private insurance company. Always ask your local Medicare insurance agent the real facts.