How much health insurance costs a family with no job

How much health insurance costs a family with no job

Justin McCurry retired in 2013. He and his wife decided at the beginning of their marriage that they wanted to quit working while they were young.

So the couple ran some calculations, made a budget and set out to save 50% to 80% of their income every month. After about 10 years, McCurry was 33 years old and the couple had saved the nearly $1.3 million he estimated they needed to retire. 

McCurry left his job as an engineer, and his wife retired from her career as a financial analyst not long after. Leaving their employers meant that the couple needed a way to provide health insurance for themselves and their three children. 

The average health insurance plan costs nearly $5,500 per year for an individual and close to $14,000 for a family, according to a 2020 study by eHealth.

Living on a fixed income, McCurry hoped to pay much less than the national average for his family’s plan. 

Check out this video to see how McCurry, and others like him, purchased health insurance after retiring early. 

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