Has anyone who has retired chosen COBRA? Is the added cost approximately the amount listed on your W2 "Employer Sponsored Health Coverage"? Also, how long can you continue COBRA coverage?
9 replies (most recent on top)
Response to @1bwu+1iGjydNn - please do not assume everyone retiring with a pension receives the $1000/month HRA from Ford - some do not. I must pay my Cobra, or any other medical insurance, out of pocket.
The $1000 HRA credit each month fully covers employee & spouse medical and dental COBRA coverage ($865+$65). Still will have 70 HRA$ left. But I don't think you can use this $70 for anything else. HRA$ don't cover vision. So need to pay only for vision from pocket. So COBRA looks good for 18 months from the date of leaving. After that may have to go with market place coverage using HRA$ or any other option available at that time.
Regarding earlier post from @uhf+1iGjydNn
I called NESC also, and confirmed the $865 / month cost for cobra health, employee plus spouse. Also confirmed 65/month dental. This is within a few percentage pls of what Ford has in the W2 12d box. Everything seems according to the rules.
Post ID: @ele+1iGjydNn
I pay my COBRA costs from my HRA account. Each month after the COBRA debit is posted from my checking account, I log on to VIA Benefits and submit a claim. It takes about a week before it is deposited into my checking account.
Don't ask this site - call the NESC. I called Friday. Employee + Spouse medical = $865, Dental = $65.
I used COBRA for 18 months when I fired Ford. It was $1450.00 Family Plan to continue with their plan when I retired.
Cheaper for spouse or single coverage. This was 2020 to December 2001.
On ACA Plan for the next 3+ years. Wow - it's no cheaper.
I thought the COBRA law says they can only charge you 103% of what Ford is currently paying. Which would be that 12d box on w2.
By the way it is my understanding cobra premiums can be paid with HRA for those who retired without severance but qualified for HRA and choose cobra. Anyone confirmed this themselves. Thanks
I took the buyout last year and on COBRA now. I am paying $392.13 per month for medical, dental and optical.
COBRA is 18 months. Cost will usually be more. I took some time off and my $217 a month employer plan is $440 with COBRA. That would depend on how much your employer contributes.