Turning 50

Last updated: December 7, 2015

What Growing Older Can Mean for Your Insurance

Taking Care of Your Parents:

  • 1 in 8 Baby Boomers is helping take care of a parent.

  • Make sure they enroll in Medicare.

  • See if they qualify for Medicaid in Kansas.

Children Going To College

  • Make sure your kids can stay on your health coverage until age 26.

  • If your kids are now independent, see if you can decrease your life insurance coverage.

Retirement

  • If retiring before 65, affordable health insurance can be hard to find.

    • If you are in an employer-sponsored group health insurance policy, see if the employer also sponsors a retiree group plan or if you can change the coverage into an individual policy.

    • If your health and financial situation can allow for it, perhaps a high-deductible plan is right for you.

    • Purchasing an annuity may also be a good decision at this time, depending on your age and future income.

Other Resources

  • 5 Tough Questions to Answer at Age 50: click here

  • 10 Insurance-Smart Things to do as You Turn 50: click here

This article is published on KansasMoney.gov. Find more information by contacting these state agencies: