Thread regarding Northwestern Mutual layoffs

Also, unless you make next to nothing my agent told me that you should stick with a bronze plan. Upping to a silver plan when some of these offer additional discounts only makes sense when you make very little income.

You can get the Obama Care subsidy right away so you pay the lower premium from the beginning. However, you need to really be able to estimate your income well so you don't have to pay any back. Be conservative in your estimate. You'd have to check with a good agent but I think if you estimate conservatively and it turns out you make less than what you estimate, you can then get more subsidy when you file your tax return. At least that helps with the monthly premiums to start.

Great advice on going directly to Aurora.

We’ve been able to get help directly from Aurora. If my wife and I need health care, Aurora gives us a 45 percent discount. My wife also had surgery for breast cancer before the NM BS, and Aurora hasn’t charged us one cent related to her follow-up treatment. I agree that medical insurance is probably still the best goal, but unfortunately it gets very messy to figure out when you’re accustomed to having a good paying job and good coverage.

I haven’t checked Obama Care for a while, but if I remember correctly one doesn’t get the subsidy until tax time. Does anyone recall this? In 2017 I went through the motions to sign up my wife Obama Care and the monthly premium was about $400 for a plan on the middle to lower end. Not sure what it would cost for 2 adults, but presumably it would be close to double. Because I had to take a much lower paying job, $800 per month could really be a budget issue.

NM retiree health insurance is ludicrously expensive. They carefully planned the ages of employees they let go and one big reason was to lower the cost of employee health insurance.

There is no reason to be uninsured.

Advice:

1. Obama Care isn't ideal but if you have low income the cost with subsidy is very reasonable. The big catch to consider is the limitation on traveling. You are only covered in the immediate area where you live & take insurance. For example, if in Milwaukee there is no traveling even to Madison or Chicago.
2. If you are healthy (i.e. can honestly answer a few questions about your health in past 5-years stating you are healthy with no pre-existing conditions); you can get reasonable coverage for reasonable cost. Look into individual insurance coverage by finding an agent who specializes in it. Individual policies cover you for 360-364 days a year. You sign-up for Obama Care for the days you are short without paying the premium so you are covered should something happen 1/1-1/5.

It's not ideal and you have to get a new plan each year (provided you remain healthy). Get a local insurance agent you can trust. If you have a financial adviser they may have a good contact.

I don't recommend calling insurance co's directly. Use the internet to research but don't add your name or phone no. You'll get way too many calls from people who don't have your best interest in mind.

I was 'forced' into retirement in 2017. I spent many anxious weeks hunting for health insurance. It was my no. 1 job even before applying for unemployment. Let's face it, COBRA is too much money as well.

I talked to my network of friends & family to find a trusted agent and just signed-up for my 3rd year of health insurance - individual plan for $377.95/mo. I'll do this until I get sick or go on medicare. It's not ideal but it's better than being uninsured if a health crisis occurs.

Good Luck! The NM forced retirement club is a an eye-opener.

Add another one to the count of ex-NMers on BadgerCare and foodstamps. I wonder how many of us there are out there.

I was able to take early retirement in 2017, which doesn't mean much because I couldn't afford the retiree health coverage and took a 20 percent reduction on the pension because it's early retirement. Still have 2 kids at home and NM wanted me to pay 1700.00 per month for retiree health care. My kids are on Badger Care, my wife and I have no health insurance. I'm underemployed because couldn't get hired back into IT because of my age. It's a joke.

All the NMers that remain are too sleepy from their annual holiday lunch to respond. I will be enjoying my holiday meal bought with the "foodstamps" provided by the state.

Thanks NM for F#%$ing over the age group that is the most unemployed and underemployed in the country.