I have a question. Recently I took a part time job with the government and am eligible for their medical but as a part-timer the cost is almost three times that of full time. At present I waived my retiree is medical from the company I retired from (23years) until I am 65 when I have to get back on. At the present, I am wives. Here how it sizes up. If I get the government insurance for $ 720 a month, dental and vision included after 5 years I can carry it into retirement. Hereís the breakdown as best I can guess.
$720 for the government a month.
$240 for what we are on now.
About $360 or so present value for government retires wife and I if I make it 5 years.
$700 or so present value for my companyís medical at 65.
If I did take the high price of the government now and made it 5 years, it would be beneficial in the end but if I left, I would be out a bunch of money. I cannot believe you only have to have 5 years with the government to qualify for full medical at retirement. At my company, it was pro rated. What I am thinking is to stay on the wifeís and invest the difference in an IRA to offset the cost when I have to get back on my companies retireeís medical at 65. Reason is 5 years is a long time and I donít want the pressure having to stay. Any thoughts.