Cobra Insurance

[Idnar7]

I am retired and have retirement medical insurance from the megacorp I retired from. They are eliminating this 1/14. I will be eligible for Medicare 5/14. Anyone know if you can get Cobra on a retirement plan? If not can you purchase high-deductible policy with a term of 4 months? Once on Medicare I would plan on getting some gap insurance. TIA

Edit to add: I am Type II diabetic and not sure if I can get coverage

 

[rbmrtn]

Why would you take COBRA after 1/14. You will be able to get insurance through your health exchange.

 

[sengsational]

I am retired and have retirement medical insurance from the megacorp I retired from. They are eliminating this 1/14. I will be eligible for Medicare 5/14. Anyone know if you can get Cobra on a retirement plan? If not can you purchase high-deductible policy with a term of 4 months? Once on Medicare I would plan on getting some gap insurance. TIA

COBRA is a law that compels companies to make their group health coverage to those who leave employment. So you would need to call your HR folks and ask because it would be dependent on what your company offers to retirees. I think most states only force companies to offer HI for 18 or 24 months or something like that.

It sounds to me, though, like the answer is going to be that you need to get yourself a policy from the state exchange. The company probably looked at PPACA as a "way out" of an expensive proposition of offering retiree health benefits. I'd guess that you're not the only one transitioning from PPACA to medicare, so that should be answerable as a separate question.

 

[teejayevans]

You may be able to get temporary insurance to cover you for the 5 months, you could also ask your current insurance company if they would do a conversion, PPACA is an option of course, not sure how the subsidies work for part year use.
TJ