by thomasandrita » Thu Feb 26, 2009 12:58 am
I will be 65 in sept. I am working and my Co. has
a medical plan. If I contionue to work for them.
They only will pay my medical ins. for us.
But they will not pay me an hourly wage any more.
I can go on medicare and get a supplement. But
then how do I cover my wife. We both need
perscription medicen too. Iam on social security
and pention. How do we go about picking a good
and correct plan for us. ? Thank You for your time.
a medical plan. If I contionue to work for them.
They only will pay my medical ins. for us.
But they will not pay me an hourly wage any more.
I can go on medicare and get a supplement. But
then how do I cover my wife. We both need
perscription medicen too. Iam on social security
and pention. How do we go about picking a good
and correct plan for us. ? Thank You for your time.
Posted: Thu Feb 26, 2009 01:04 am Post Subject:
Are you planning on retiring? Is your employer going to continue the medical coverage upon your retirement? I think that's what you posted, but we need some clarification.
If you are going to be on Medicare and still on your group health plan at work, that cannot hurt you. If you are going to lose your group health coverage and are planning on Medicare plus a Medicare Supplement policy, there may be better ways for you to go depending on where you live.
Could you possibly give me some more info so that we can point you in the right direction? That would be great!
InsTeacher 8)
Posted: Thu Feb 26, 2009 04:58 am Post Subject:
Well, losing the protection of the group health plan has always remained a great cause of concern for the ageing couples. When one of the partners attains the retirement age and qualifies for the Medicare the other would automatically lose the health coverage since Medicare is an individual plan. Hence, if you decide to retire today your wife would need to find an individual health plan, which would definitely cost very high. She may also continue with the group health coverage through COBRA for a certain time length. However, that too would be substantially expensive. Actually, there aren't many alternatives available, only if you decide to postpone the idea of retiring for the time your wife too would become eligible for Medicare.
Additional information would definitely be great.
Regards,
Juanita
Posted: Thu Feb 26, 2009 09:06 am Post Subject:
Yes, this is a tough dilemma for many retiring couples.
The simplest solution is to keep working until your wife is 65 and can qualify for Medicare. I'm not understanding these comments:
If I contionue to work for them.
They only will pay my medical ins. for us.
But they will not pay me an hourly wage any more.
I would speak with an employment law attorney regarding that one.
It appears your company is saying you can work here for the next two years for no wages but we'll keep you on the group health until your wife turns 65.
I'm 98.87599% certain employment laws wouldn't allow that.
But here's what you do.
Take their "offer" and work for FREE until your wife is on Medicare then sue the employer for the back pay.
Alternatively, finding an individual medical plan for your wife will be very expensive and having your wife continue on Cobra through your employer will be ever more expensive.
So.....be smart about this. Contact an employment lawyer NOW, get the facts regarding the legal ramifications of your employer's "offer" then set the circumstances up to your advantage.
[rant]
:twisted: What a jack assterisks bass toward employer. Work two years for FREE and we'll keep you and the wife on the medical plan. If you didn't want to retire they'd be paying your wages and you'd still have the medical insurance. I'd find a way to hockey puck these creeps. :evil:
[/rant]
If I missed a key point please clarify, but that's what I got from your original post.
Posted: Thu Feb 26, 2009 09:52 am Post Subject:
It seems a they have tricked, gry sys right.
It is really hard for above 60. Working in order to continue medical insurance, that too at this age do not make sense. Better there are few companies that offer simplified issue life insurance plans for people below age 78 which include Colonial Penn and Globe Life. Such plans do not require a medical exam.
Stonebridge Life offer permanent life insurance with no exam required for people age 45-75.
Yet you are suggested to make survey on your own and hrough an agent for more alternatives. May be a case sensitive insurance will have good returns.
Posted: Thu Feb 26, 2009 11:52 am Post Subject:
How do we go about picking a good
and correct plan for us. ?
I guess you should go for Medicare medical plan. Consult with your personnel office in this regard.
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