Expert Q & A: The ACA & retirement planning
Written by Katie Carpenter
Dec 9, 2013 4:22 PM
Q: PIN: Crystal in Carlisle, PA asks:
"How does the law impact retirement planning for young people?"
Before the act I remember being advised as a person in my 20s that I should save 300K for retiree health insurance premiums, to cover time between retirement and Medicare, if a gap exists.
A: The Affordable Care Act (ACA) really has very little impact on Medicare (which covers older retired individuals and some people with disabilities). Once a person is eligible for Medicare, he/she is no longer eligible for policies on the Exchange. So the ACA should have little to no impact on retirement planning.
John DeLorenzo, director for Legal Services, PinnacleHealth