Insurance questions!

[Bob in Colorado]

So I have had two OHS and am doing just great. I am 58 and thinking of retiring soon. One of the big considerations is around health insurance. I assume that I would not qualify for standard health insurance, but is that changing? Does anyone have any experience in this or any new information. I know I can carry COBRA for 18 month so i would be about 60 and have a 5 year gap before Medicare eligibility.

Thanks for any help.

 

[Rixtory]

Wow - my first post.....
OK, Pre-ex for children/dependents under 19 kicked in just recently. However, not until 2014 will there be non-disputable coverage for adults who have pre-existing conditions.
I recall something about being uninsured for 6 months, but cannot recall the context. Otherwise, your COBRA (as long as you stay enrolled) is your proof of insurability, should you choose to carry an individual policy at the end of 18 months or anytime within until 2014. At that time, you may not be able to choose your insurer, and could end up in a risk pool (much the same way as new or risky drivers)

That same year, individuals whose incomes are up to 400 percent of the poverty level — $88,200 for a family of four — will qualify for subsidies to help purchase health insurance on exchanges, or marketplaces where consumers can shop for coverage. At that point, most people must have health insurance or pay a fine.

 

[ShezaGirlie]

CoverColorado..

CoverColorado..

Hi Bob,
Looks like you might be in luck since Colorado has a high risk pool. Read and see if you will qualify:

https://www.covercolorado.org/

I was on the Texas high risk pool for almost 10 years and that was the only way I qualified for any health insurance since I had an AVR. I was on it for years, but the premiums aren't cheap. We all look forward to 2014 when the 'pre-existing' conditions become history for us. There actually are some states which currently do not offer a high risk pool....unbelieveable..!

Also, have a look here: https://www.pcip.gov/

I'm now on that socialized medicine/healthcare program called "Medicare"....LOVE IT..!!:biggrin2:

 

[olefin]

Not sure how things will change.

I retired at 54 and two years later had AVR. My retirement insurance lifetime max benefit was only $50,000. I went over that by $35,000 from AVR. Then couldn't get insurance until I was old enough for Medicare. Luckily it was no big deal. Being a veteran helped with prescriptions. But I didn't use their medical.

Good luck on your upcoming retirement! You will love it! :thumbup:

 

[vtbecca]

$50,000 maximum is such a joke! I can't believe companies could get away with that. I think there are no caps allowed now. That may be in 2014 but my husband has passed up on job opportunities because of caps. Too scary when you know surgery will happen. And even $250,000 or 1 Million can go so very fast.

 

[Luana]

So I have had two OHS and am doing just great. I am 58 and thinking of retiring soon. One of the big considerations is around health insurance. I assume that I would not qualify for standard health insurance, but is that changing? Does anyone have any experience in this or any new information. I know I can carry COBRA for 18 month so i would be about 60 and have a 5 year gap before Medicare eligibility.

Thanks for any help.

Yes, I posted about this awhile back. Some states also offer COBRA after federal benefits run out. I've just used up my federal COBRA, and have Californian COBRA for another 18 months. After that, as long as you can meet the criteria in my other post, you are eligible for a guaranteed-issue HIPAA plan, which means you cannot be declined for a pre-existing condition.
http://www.valvereplacement.org/for...481-Guaranteed-Issue-Medical-Plans&highlight=

 

[Luana]

High Risk Pools

High Risk Pools

I think all states are now offering high risk pools and I've looked into what's available in my state. It costs about $200 more than my COBRA is now and the benefits are significantly less.

 

[Philip B]

High Risk

High Risk

The downside to COBRA is high cost. I might be worth comparing rates... what you can get v. COBRA.

-Philip