Retire at 62? Who Pays Until Medicare?

Retiring at 62 can leave a health-insurance gap before Medicare usually begins at 65. If your job coverage ends, which options could bridge those years—and what might you actually pay? Follow Ellen, a fictional U.S. worker, as she finds the date her work plan ends and compares coverage through a working spouse, retiree benefits, the Health Insurance Marketplace, COBRA, and Medicaid. Each route has its own eligibility rules and deadlines. A monthly premium is only part of the cost: deductibles, doctors, prescriptions, and possible out-of-pocket bills matter too. We explain why ordinary COBRA coverage after leaving a job usually lasts up to 18 months, which may not cover the whole stretch from 62 to 65. We also walk through the Marketplace enrollment window after losing job coverage and the handoff to Medicare. The 2026 rules matter. The temporary Marketplace premium-tax-credit expansion above 400% of the federal poverty line ended after 2025; other eligibility rules and limited exceptions still apply. If advance tax credits exceed the amount finally allowed, there is no repayment cap for 2026. Your actual options and prices depend on your state, household, expected yearly income, other available coverage, and the plan year. Check your own plan documents and current agency guidance before making a coverage change. Ellen and the fictional $200 monthly premium difference between two example plans are illustrations, not plan quotes or a recommendation for any household. 0:00 The gap between 62 and 65 1:12 When job coverage really ends 2:49 A spouse's plan or retiree coverage 4:28 Marketplace deadlines and plan costs 6:14 What income counts in 2026 8:37 COBRA's cost and time limit 10:28 Medicaid depends on your state 11:30 Compare beyond the monthly premium 12:38 The Medicare handoff 14:56 Three dates and three questions