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Old 01-30-2008, 08:59 PM
 
212 posts, read 752,957 times
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will your company still give you medical coverage after retirement or will you have to get medicare and a supplement medical. That is the most important thing upon retirement and unless you are in a union you are screwed.
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Old 01-30-2008, 09:27 PM
 
2,141 posts, read 7,174,209 times
Reputation: 1251
No. My company benefits end upon retirement.
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Old 01-31-2008, 12:06 AM
 
Location: We_tside PNW (Columbia Gorge) / CO / SA TX / Thailand
22,585 posts, read 39,962,822 times
Reputation: 23716
my company of 32 yrs service allowed for benefits from 55-65, but they were expensive (~ $400 ea/ month) and subject to change. If you ever took a job (even part-time) with benefits or purchased medical elsewhere you no longer qualified to get on the plan. Of course these were significant changes made in the last few years.

so... I am buying catastrophic and praying for no problems. (Unlikely since both sides of parents had significant health issues as early as 45) I do carry LTC
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Old 01-31-2008, 12:08 AM
GLS
 
1,985 posts, read 4,847,602 times
Reputation: 2408
Quote:
Originally Posted by captnemo View Post
will your company still give you medical coverage after retirement or will you have to get medicare and a supplement medical. That is the most important thing upon retirement and unless you are in a union you are screwed.
My wife works at a hospital, but is not in a union. The way they handle it is that they give each employee $1000 for each year they have worked there. Therefore, when she retires she will get $20k (20 years) to subsidize her premiums for health insurance . It's not great, but it would cover 2 to 3 years of health insurance for us if she retires early.
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Old 01-31-2008, 12:43 AM
 
Location: WA
5,395 posts, read 21,398,752 times
Reputation: 5898
No, I was too young to get retirement health from my first career and had too little tenure to get it fom my second. I pay a lot for a high deductable policy now until medicare.
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Old 01-31-2008, 09:44 AM
Status: "0-0-2 Game On!" (set 2 days ago)
 
Location: The beautiful Rogue Valley, Oregon
7,298 posts, read 15,353,559 times
Reputation: 9473
As part of the early retirement package, we got a year of extended employee coverage. After that, we're on our own - since he's 54 and I'm 48, we have a long way to Medicare.

We knew health care would be one of our higher expenses and took that into consideration when we accepted the early retirement.
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Old 01-31-2008, 12:47 PM
 
Location: Forests of Maine
30,682 posts, read 49,455,573 times
Reputation: 19134
My last employer does provide coverage for me still.
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Old 01-31-2008, 02:19 PM
 
5,822 posts, read 13,318,850 times
Reputation: 9290
Our company offers medical benefits based on years of service, which would have cost $700 per month for both of us. Thankfully we have TRICARE (military retiree health care).
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Old 01-31-2008, 03:09 PM
 
Location: SF Bay Area
1,423 posts, read 2,431,231 times
Reputation: 1776
Yes. I retired at 52 and have employee paid medical benefits. When I’m 65 medicare becomes the primary and my employee medical plan becomes secondary.
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Old 01-31-2008, 03:40 PM
 
Location: Gary, WV & Springfield, ME
5,826 posts, read 8,652,176 times
Reputation: 17267
Only for a cost - which often equals your monthly pension amount. The choice is yours - do you want health insurance or a monthly income? You choose. This isn't really as bad as it sounds - if you have another income and all you really need is medical insurance. It's an ideal setup if you want to do something from home or start up your own business.
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