It is one of the most discussed reasons people refuse to retire before age 65. There are plenty of reasons someone may not retire, including a lack of income, the fear of running out of money, the loss of identity, boredom, no longer having a sense of purpose. Surprisingly one of the biggest ones we encounter is health insurance. As we age, the presence of health insurance becomes just as much a necessity as income. Some view it as a higher priority, allowing insurance to dictate if/when they can retire.

Residents in other states can learn about their options at healthcare.gov or find information about their particular state's program by visiting www.healthcare.gov/marketplace-in-your-state/.

The Cost May Surprise You – in a Good Way

The cost of health insurance through the ACA, however, does cause real confusion. This is another big deterrent for retiring before 65 with no health care through your employer or your spouse's employer. The monthly cost to you, the enrollee, is based on your household income for the year you need coverage. Here is the good news: When you retire you may have little to no earned income.

Maybe Retirement Is in Your Reach Afterall

This is not an endorsement for the ACA but a way to provide options and clarity on a topic that can be uncomfortably confusing. It is bothersome to see people grind out their last few years of work to hit that magic number of 65. Had they known they had this option, maybe they would have enjoyed a few more years in retirement.

If you are considering retirement before age 65 but think you can't due to health insurance, we encourage you to investigate this option. The websites mentioned above are easy to navigate and understand. We have seen this method used as an effective tool to retire earlier than previously anticipated.We are not health insurance experts but have seen the health insurance marketplace mature nicely, and you could potentially benefit from it if you hope to retire early.