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Health

Tadams01KC

(40 posts)

4. Cobra

Reply to FormerOstrich (Original post)

Fri Jan 31, 2025, 03:53 AM

Jan 2025

I just went thru this with my wife when she retired at 64. There is a way to estimate cobra payments by looking at what you pay a month for health insurance PLUS what your company pays. That total x 2% admin fee is what you pay for cobra. In my wife’s case that ended up being around $800 a month. Ouch.
ACA is another option but if you make a lot of money it will be expensive also.
Also you can have Medicare start on the first day of your birthday month when you turn 65. So you won’t need Cobra for May.