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Old 05-24-2015, 05:09 AM
 
71,905 posts, read 71,971,035 times
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i am confused about that last part .

not sure what you are saying or what ages you are talking..

there are pitfalls of keeping cobra once you hit 65 but being on cobra at 62 and signing up for medicare months in advance of being 65 has no ramifications good or bad and still does not take effect before 65.. .

here in ny we can cobra for up to 3 years so the fact i will be on cobra has nothing to do with what happens at 65 .

i do know if you delay signing up prior to the month before you are 65 there are issues with start dates and penalty's.

they give you a few months prior and a few months after you are 65 to get on medicare otherwise you have to wait until open enrollment the following january.
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Old 05-24-2015, 06:27 AM
 
677 posts, read 843,174 times
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I am on Obamacare, my husband on Cobra. I wish I could have his Cobra. It's cheaper and is a MUCH better plan. I have deductibles & out-of-pocket expenses, not to mention the premium is higher. He just pays copays. And I have the gold plan.

For those questioning why I am not on his Cobra...I turned it down because I was still working. When I left my job the Cobra I thought I'd get with my job was over $1000 a month for just me! And I couldn't get onto his Cobra anymore (had to sign up within a certain time frame).
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Old 05-25-2015, 11:03 AM
 
Location: AZ
484 posts, read 480,693 times
Reputation: 1554
Health insurance is the main obstacle to early retirement unless you have insurance continuation from your job at a reasonable rate. The other option is to use the VA, if eligible. Unfortunately, even though I am a Veteran, I am not eligible for VA coverage because I didn't serve in a war zone. (A major pet peeve of mine, by the way).

Otherwise, until Medicare kicks in, we are left to navigate the minefields of COBRA and Obamacare...we have to really watch our step in those minefields.
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Old 05-25-2015, 06:02 PM
 
Location: Los Angeles area
14,018 posts, read 17,769,401 times
Reputation: 32309
Quote:
Originally Posted by gbpakrfan View Post
Health insurance is the main obstacle to early retirement unless you have insurance continuation from your job at a reasonable rate. The other option is to use the VA, if eligible. Unfortunately, even though I am a Veteran, I am not eligible for VA coverage because I didn't serve in a war zone. (A major pet peeve of mine, by the way).

Otherwise, until Medicare kicks in, we are left to navigate the minefields of COBRA and Obamacare...we have to really watch our step in those minefields.
Indeed. I consider myself fortunate that I did not have to navigate those minefields myself. My employer offered subsidized medical insurance until age 65 - the same insurance we had had while working minus the dental coverage - and they paid 80% of the premium. You can bet I was happy to pay my 20%. There were some conditions: We had to have 25 years or more of service with that employer and had to be retiring at age 58 or later - I had 34 years and was 61. Still, a damn good deal, even without dental coverage. I just paid my own dental costs between ages 61 and 65 and was glad to do it. Then at 65 the subsidy ended and we had to go on Medicare with no further connection to the employer. I am still thanking my lucky stars.
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Old 05-25-2015, 06:37 PM
 
Location: Bend Or.
1,126 posts, read 2,462,465 times
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Congrats as well, at 62, I am three days away................. Cobra plans differ greatly,one person said they had 6 months to sign up, mine is very clear that I have 45 days after they postmarked the notice of continuation offer. For me Cobra was the same price as through the exchange, but the deductibles and out of pocket were way lower. As said before that is the biggest down side to early retirement.

I have an Uncle that lives in Sun City, he says the average bra size in Sun City is a 38 Long.............
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