My husband will retire in 3 years@ 62 and have employee retiree health benefits for himself only. I'll be 60 no health benefits and plan to go on ACA. If I understand right if your income is less than 400% of the federal poverty rate you'll qualify for govt subsidies. I think we'll qualify unless the rules or circumstances change. That's what frustrating trying to plan, when rules are changed.
Yes that’s exactly what I did. I worked until I was 65 to cover health insurance for myself & my DH. He was already eligible for Medicare by that time too. I worked for a large private health care system. Retirees from there get no break or discounts on health care or insurance. I turned 65 last May. I worked 1 day in April which gave me health insurance all month. Then on May 1st, we started Medicare.For those of us who have no other option for health insurance other than buying yourself, are you continuing to work just for the health insurance coverage at work? Do you see yourself working until Medicare kicks in?
I would however believe it is the same as the cobra rate
that is what they pa$$$id.
I would leave tomorrow if not for the insurance. ACA coverage is expensive and lousy. Need to wait for Mediare and a supplementI have never heard of retiree rate. I do have my hands in the benefits for our company I would however believe it is the same as the cobra rate as we have had people sort of pushed into early retirement and that is what they pa$$$id. We would retire tomorrow if it was not for the 200-300k we would spend between us and a dependent we still need to cover. We are very close to the point to just work for insurance tired of the stress.
Yes we have a pretty good idea, he works for a municipality so they reimburse him for whatever his cost is, I know very lucky. But when he first started working wives and families were included then over the years that changed, so we had to pivot too.has your dh looked into what the retiree share of cost runs where he will retire from? this is one of the biggest shocks many retirees face upon retirement b/c employers tend not to publish the retiree rates to active employees-and they can at minimum run 100% higher. i've experienced this first hand and have seen friends/family devastated to learn of it too close to retirement to change their plans and either extend their employment until they can get medicare or have the time to fully explore less expensive options within the marketplace.
The marketplace for us was much worse.I edited my post, to Medicare. Cobra rates are crazy and the marketplace is not much better if you can not get the help paying for it.
That's not true.The marketplace for us was much worse.
We retired 18 months before we turned 65 because COBRA is 18 months. $1,400 a month for my wife and I. Marketplace quote was $3,000......UNTIL they noticed I qualified for COBRA. I was not aware you can only get Affordable Healthcare Act coverage if you have no other insurance options. So I could not even get AHC coverage since I qualified for COBRA.
I can't explain discrepancy you are posting as compared to what I was told when I inquired in 2021 when I retired. However it's moot, because Covered Californias Obama care premiums were so much higher.That's not true.
https://www.healthcare.gov/unemployed/cobra-coverage/
https://www.verywellhealth.com/cobra-obamacare-subsidy-1738953#:~:text=Merely being offered COBRA doesn,60-day special enrollment period.
https://www.coveredca.com/support/before-you-buy/cobra/ (since I know you are in CA from previous conversations)
If you have already enrolled in COBRA, then you are not eligible for ACA coverage until the next open enrollment period. But you are eligible generally even if you have a COBRA option on the table. Just never sign up for COBRA until you evaluate all your options - you have 60 days after termination of employment.