Retirement?
If a person wanted to retire a little early, what can be done about insurance for him and wife?
Public Comments
- depends on your contract.. I will get insurance thru Teamsters until I die Or if you have no retirement insurance you will have to pay for own google for best rates on type of insurance you require
- Some places of employment offer what is called COBRA insurance. I'm not sure what the letters stand for, but it means that they will provide the insurance at, your expense, for a specified lenghth of time. Your husband should go to his boss and ask what is provided by the company in cases of early retirement. I hate to say this, but you will probably have to pay for the coverage yourselves. Unless his employer has made some provisions for their employees' retirement. Much luck!!
- Thank you bigsis for the information on the COBRA site. I work, went to the site and keyed in the info as if I was retired. WOW! I could never afford medical insurance if I was retired. I guess I will keep working and having my employer pay most of my insurance. Something to think about if you plan to retire? Can you afford the medical insurance? It goes up SUBSTANTUALLY, every year!!
- Everyone's case is different. It depends on your health, medications, etc. I am 60 years old and had planned on working until I was 62. Now it doesn't matter because I had to go on long term disability thru my company. I worked there 25 years. I learned more about insurance than I ever wanted to. I am now on cobra. It costs me $437.62 per month. That covers everything I had when I was working. I needed all of it because of my medications, oxygen, hospital, tests, etc. WITH all the other insurance companies I would have to give up something. Some would not cover hospital visits until you had been with them over a year. One would not cover prescriptions. Finally I talked to someone I trusted in the insurance business. He said as sad as it is, take cobra. I would get the coverage I had to have. It would have cost even more with the other companies in order to cover everything. I think if you retire early you can take the option and use cobra. BUT it doesn't last forever and I think every case is different on that too. Since I am on disability I can start collecting Medicare at 62 instead of 65. Good luck. I wouldn't want to go out there searching again. Your husband might have someone at his job he could talk to about the options. They would know for sure. My hope is our next president will have an answer to our medical problems and come up with something for everyone. This is a good one. While I was in between insurances I needed an inhaler and went to the pharmacy. Usually I do the mail away and you get 3 months supply at one time. One inhaler at the pharmacy for one month cost $348.00. When I do mail away I get the same inhaler for $60.00 and here's the catch, I get a THREE months supply. Figure that out. Then tell me we don't need someone in the government to help.
