Life Cycle Changes. When you were married, the fact that one of you was a few years younger didn’t seem like such a big deal. But when you are 65 or older and the one with the job that has the health insurance benefits, retirement can be complicated.
At Professional Benefit Solutions we are asked all the time to find a solution for the “younger spouse” when the older one is going to retire, eligible for Medicare, leaving the younger spouse and dependents to COBRA for up to 24 months or to find a private policy.
The great news is that we have found a policy that will cover people for 2 years and 11 months. That is longer than COBRA and often enough time to get dependents into the own employer-based coverage and for younger spouses to celebrate a 65th birthday and become eligible for Medicare. And it also means that you might find coverage with COBRA for the 24 months and then transition to this “tri-term” policy for an additional 2 years and 11 months, supplying essentially 5 years of private health insurance for dependents and younger spouses.
While we help your Medicare-eligible retiree find exactly the right Medicare plan or Advantage Plan we will work with the rest of the family members to make certain that the retirement plan covers everyone.
We can’t wait to show you what we have, what it covers and how it compares to what your COBRA policy has to offer.