For 65 and under My understanding is you can stay on cobra for 18 months and pay for it with retiree pre HRA ollars
employee bcbsm ded=$7000
Retiree bcbsm thru via benefits ... chip in with pre HRA for bcbsm $7k individual ded plus $14k Family dad
Ask nesc for details
@swn My HRA also covers my healthcare premiums until I am 65. I had worried about healthcare premiums but it all worked out fine.
Yes, I'm 62 and took the buyout last October. For medical, dental and optical it runs just me, $392 per month. Once that is done I have enough in my HRA account pay for insurance until I reach 65 and can collect Medicare. I worked at Ford for 17 years.
@@ikl+1hTxP4OJ
you can pay for Cobra with HRA $$$$
Pre HRA and HRA are not HSA. Do your homework. HSA is out of pocket only. HRA is money ford will send to Via Benefits so you can use towards Obama care plans. By law you can keep your current coverage (health dental vision) for 18 months and pay out of pocket and submit reimbursement to Via Benefits who will pay you back with your Pre HRA dollars. I am only talking about folks under 65. Older than that is a different game using HRA dollars.
From my understanding, if you turn 65 and are not on a company group medical plan, you need to sign up for Medicare.
COBRA is not considered a company group medical plan.
If you don't sign up for Medicare in your initial enrollment period - defined as the 3 months before your 65th birthday, your birthday month, and the 3 months after you turn 65 - you will be hit with a lifetime penalty on Part B when you do sign up for Medicare...
I don’t believe you can pay for monthly health care (including COBRA) with Healthcare Savings Account (HSA) dollars.