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Old 03-02-2013, 07:12 PM   #1
Dan 444
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Join Date: Dec 2012
Posts: 18
Looking for health coverage recommendations for NNY

Hi all,

Later this year, I will be retiring (62 yr. old) and my wife and I will be retreating permanently to our place in Franklin County. When I leave my company, we will no longer have company-provided health insurance; so, we will need to obtain health insurance from age 62 to age 65. This will be the first time since entering the workforce 40 years ago that I have not had company provided insurance (although I currently pay a $600/mo employee contribution); so, I know nothing about this subject.

Could someone recommend a good insurance co./medical plan to go with? Approximately, what should monthly medical coverage cost us (we don't have any existing health issues)?

Now, for those that help me out a bit, I'll buy the beers....
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Old 03-02-2013, 07:36 PM   #2
Join Date: Mar 2004
Location: South Jersey by the beach
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I'm not from the area but I can give you some pointers. For the first year, you should be able into your companies health insurance under COBRA. Its the policy cost plus an administration fee. That would work while you research plans.

FInd out what health insurance the local physicians and hospitals take. No sense in finding a plan that no one takes or subjects you to high deductables and coinsurance since you are "out of network". How is your health? If you go to alot of specialists and have alot of prescriptions that need to be filled, it may be better to pay more for a policy up front than choose a cheaper policy and find you need to pay high deductables. As we get older, we tend to get more chronic problems; high blood pressure, diabetes, high cholesterol that require more doctor visits and more medications. Sometimes cheaper policies have limits on diagnostic testing and higher out of pocket expenses. most insurance companies will not let you change plans (you want to upgrade or downgrade) until there is an open enrollment period which usually occurs only once a year.

If NY is anything like NJ, there are set plans that insurance companies must offer. So plan A is the same for all insurances, plan B the same etc etc. The only difference is the costs.
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Old 03-02-2013, 08:56 PM   #3
Pumpkin QAAD
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Posts: 1,324
This has become a very common problem as fewer companies offer retirement benefits.

COBRA should last 18 months.

I you are comfy using the web and driving yourself:

If you want an agent to figure the best plans for your situation.

Good luck!
A society grows great when old men plant trees whose shade they know they never shall sit in
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Old 03-04-2013, 06:51 AM   #4
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Old 03-05-2013, 03:42 PM   #5
Join Date: Jan 2005
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I am in a similar situation. My wife is currently working and we have health insurance, but that won't be forever, and I am only 57. I have a consulting practice, and am about to join our local Chamber of Commerce. The Chamber often has the most economical health insurance in any given area, so if you can link to that it may be another option.
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Old 03-06-2013, 10:32 PM   #6
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Location: In the mountains
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A few thoughts.

First, COBRA may not even apply. Only companies with employees in excess of 20 people are subject to COBRA. Smaller companies are not so that may not even be an option depending upon the size of the company you're leaving.

Depending on your income level, there are programs such as Healthy NY. Take a look at that.

If all else fails, I believe you can still buy insurance direct from health insurance carriers who participate in NYS. They are not cheap but it would only be for a few years.
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Old 03-15-2013, 02:23 PM   #7
Join Date: Feb 2007
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Originally Posted by wiiawiwb View Post
First, COBRA may not even apply. Only companies with employees in excess of 20 people are subject to COBRA. Smaller companies are not so that may not even be an option depending upon the size of the company you're leaving
If you work for an employer that has less than 20 full-time employees, NYS has a program that's similar to COBRA for up to 18 months coverage.
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