As a single person still working but looking to retire in the next year or two. Can I please get some feedback on what you’re paying for Cobra for 1 person
Thank you
12 replies (most recent on top)
@OP $2,345 a month post retirement.
@a1 not always true. But the answer above was given so op should be fine
Family of 5, displaced, and my current insurance (anthem hsa silver or low tier one) was 2400/mo just for medical.. the others were reasonable though. 20 and like 10 or so for dental and vision.
The PDF of rates has been posted since October.
There is a chart in Teamworks, I saw it last week. For myself plus spouse it was $1,800 for my current United Health plan. COBRA only last 18 months. There is the ability to obtain healthcare with WF after retirement. Even with the $500 per month credit I am eligible for, the premiums are outrageous. But you should be eligible for this until you are Medicare eligible.
For a family 1600
@aa thank you!
@OP There are potentially some credits from WF (or used to be, depending on how long you've been there, position, etc). There should an online class - something like retiring from WF that could walk you through that. Or you can call HR to see if you'll qualify for any credits towards the premiums. I believe there also might be scenarios within the cash balance plan portal on healthcare in retirement.
Depending on your income after you retire - you could be eligible for state sponsored health benefits. Those are means-tested so its different for each state. Those plans are way cheaper than COBRA or the exchanges.
Add in the employer contribution to your on your paycheck. The United Healthcare plan along with dental and vision is $950 for me. Steep, but cheaper than the outside market.
@a1 I was wondering if that would be how it was calculated. Thank you
look at your paystub, there is a section that shows what Wells Fargo pays on your behalf, add that to what you pay and that'll be what cobra will charge.