[Boomer]

Steve,

When talking about COBRA, my standard line is, "They don't call it COBRA for nuthin'." It will take a real bite out of most budgets, but as you said, it does buy you some time and access to the plan you now have at group rates. If your employer now pays a part of your health insurance premium, you are going to miss that contribution when COBRA takes the employer off the hook. But you will be making so many decisions as you get close to retirement, that at least COBRA gives you some time with a plan that is a known. As nasty as that COBRA bite can be, you may welcome it.

If you have not already done so, you may want to check with your employer to see if there is any possibility of continuing coverage with the group until Medicare if you pay the entire premium. I can tell you right now though that employers don't promise until Medicare unless there is a contract involved. Companies that actually do grant access to retirees, with or without a company contribution, almost always have provisions in the fine print for being able to drop the other shoe. But even with that possibility hanging over your head, access in that way could be a good choice.

Access to coverage by a good plan? Group rates? What kind of coverage? Catastrophic or otherwise? What happens to your rates if you actually have to use the plan? What happens to your plan if you actually have to use the plan? Prescription coverage? It is a complex issue as I know you well know.

Recently I have been walking a good friend through some decisions about retirement. She really wants to hang up her job. She has some money saved. She does not carry debt. She has a couple of retirement plans that can kick in and bridge her to early SS. But guess what it is all boiling down to. The access to a good plan. We think she may have had enough years with the state awhile back to get into that plan. She has an appointment next week to find out. If she can't get insurance there, she will have to become immersed in the same close study you are starting.

What you said about NY is interesting. I hope there are some fellow New Yorkers here who can give you some information on that if you need it.

Anyway, if I find information in addition to the two links I put in the other thread, I will post it.

At the beginning of all this, I told you my COBRA line. My other standard line about health insurance is that the people I know who are facing the problem of trying to find access to good plans at good rates are not clamoring for a free ride. They just want to be able to buy a ticket to ride.

Boomer