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Retire at 63
Old 10-07-2009, 07:17 PM   #1
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Retire at 63

If I retire at 63 yrs. of age. Can I collect COBRA? and how much would my payments be?
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Old 10-07-2009, 07:48 PM   #2
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You will need to contact your employer to determine COBRA eligibility and cost.
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Old 10-07-2009, 07:50 PM   #3
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Quote:
Originally Posted by golden30 View Post
If I retire at 63 yrs. of age. Can I collect COBRA? and how much would my payments be?
Typically, it costs a few percent more than your policy while employed, and can last 18 months. In your case that should carry to close to or into Medicare eligibility.
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As if you didn't know..If the above message contains medical content, it's NOT intended as advice, and may not be accurate, applicable or sufficient. Don't rely on it for any purpose. Consult your own doctor for all medical advice.
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Old 10-07-2009, 09:00 PM   #4
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This is what we did without a job and employer-paid health insurance.

Healthcare was $20 every two weeks to cover my husband and me at my previous employer. If I had taken the COBRA when I left, the premium would have been ab0ut $1400 per month. That's more than we spend on healthcare between the two of us in a year!

Instead we (50 and 60 years old) purchased individual health insurance. The type of policy we purchased was a high deductible healthcare policy (HDHP) with a health savings account (HSA). The deductible is $5,000 per year per person and then the insurance company pays 100%. The cost for the first year is $306 per month. We have no health issues. I can't tell you what we would have done if we had had health issues that would have prevented us from getting individual health insurance.

Anybody watch Keith Olberman's Special Comment tonight?
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