How Elections Have Consequences #564: Why I Can Retire Early

Thanks, Obama! 

I mentioned a couple of days ago that I chose an Obamacare plan, since I’ll no longer be covered by my former job, and I’m not yet eligible for Medicare. It's not lost on me that just a few short years ago, “retiring” at 61 wouldn’t have been a viable option. Even with an adequate income provided by, say a 401k and/or SSA, I would have been more or less compelled to continue working. 

This is because until the passage of the Affordable Care Act in 2010, there were very few options for individuals to buy health insurance on the open market. Essentially all healthcare in this country was provided by either Medicare (for old people), Medicaid (for low income people) or employer provided health insurance (for working peope.) If you were an individual who didn’t meet those qualifications (old and/or poor) and didn’t have the good fortune to have a job with benefits, you were shit out of luck. Quitting wasn’t an option.

Thanks Obama!