Daily Money - Is Inflation on the Horizon?

TIMELY RETIREMENT NEWS, INSIGHTS, AND ADVICE

RETIRE WITH MONEY COMMUNITY INSIGHTS

This week in our Retire with Money Facebook group, members discussed health insurance options before Medicare eligibility at age 65. The member who asked the group lost her job at age 59. I've heard from readers in this tough spot as well. If you work for a company of at least 20 employees, you will have the option of going on COBRA, which is a continuation of your employer coverage for at least 18 months (in certain circumstances it's 36 months). But there's a catch: you're going to pay the full cost yourself, plus a 2% administrative charge on top of that. The typical employer pays around 75% of an employee's health care costs, so this is going to be a big jump in health care expenses just as you lose your income. 

Another option is to buy a plan through your state's ACA exchange. The good news here is that if your income is under certain limits, you qualify for a subsidy to defray your premium costs. The bad news is that many of these plans have very high deductibles.

These two options give you comprehensive coverage for pre-existing conditions, medications and any other needs (provided you use the appropriate networks). Be wary of short-term health insurance plans, which have many coverage exclusions. The same goes for health-sharing ministries, which aren't true health insurance. These options are less expensive than COBRA and ACA plans, but there's a reason: they don't cover as much. 

To Escape COVID-19, Grandma's Living in the Backyard

So-called "granny pods" are gaining in popularity. They're not cheap. BLOOMBERG

A Small Subset of Vanguard Investors Moved Entirely Into Cash When the Market Tumbled

Don't do this.  MARKETWATCH

Leaving Your State? Mind the Tax Man

If you're waiting out the pandemic in a different state, you could eventually be on the hook for taxes in multiple locations.  CNBC

Getting A Coronavirus Test to Make Visiting Family Safe? Not So Fast

A negative result isn't a "get out of jail card," an expert advises. NPR

Elizabeth O'Brien is deputy editor at Money. She has covered retirement and health care for nearly a decade. A Brooklyn resident and mom of two boys, she navigates the alphabet soup of Medicare and the New York City subway system with equal ease. You can email her at elizabeth.obrien@money.com and follow her on Twitter at @elizobrien.