Got my cobra estimate retiring early it’s like $1200 a month. Better check your fiqures before you pull the trigger on retiring early. It’s an eye opener!!
Bumping this so folks don't miss it. Too many are so focused on leaving as soon as possible (not that I blame anybody) that things like this get overlooked.
17 replies (most recent on top)
@OP wow, that's insane. It's that just for you, you and spouse or family?
Issue is, how do you attain cobra costs if your not at retirement age and want to leave?
Who cares about cobra? If its too much just hunker down for a year until gov benefits kick in.
Or, i dunno, work part time to cover the small expense of $1200 a month.
Everyone will be surprised when they figure out that "FREE" Medicare will cost about $3,000+/person when you turn 65, counting Part A, Part B, and prescription costs.
Additionally, the deductible needs to be met on a 6 month or less basis, not annually.
I hope the "Medicare for all " people realize this soon.
@jz With respect, it's not BS. Not only does my wife get the the employee PPO price, when she reaches 65 she'll receive the same employee benefit that I receive of $2,400 per year for a medicare supplement policy. Again, per 2007 hire and over 55 by 2012 the retiree benefits are very good.
@jf BS!
@f6 I am retired from SF and met the hired prior to 2007 and over 50 prior to 2012 dates. My spouse is still younger than 65 and gets the $543 per month PPO. It's a great deal for those of us hired at the right time.
@hw you retired 20 years ago. Your experience not relevant.
I disagree. I retired at 57. Wife and I got medical. If an employee plays their cards right and "lives within their means" (most don't) you should be able to retire. The problem at State Farm is most throw away money to fit in and not save for later while going on expensive vacations, divorce, substance abuse etc....
@f4 Agreed. It's a good benefit for anyone hired prior to 1/1/07. Way cheaper than anything else one can find. For anyone else, its expensive, including spouses of the employee, no matter when the employee was hired.
Everyone knows the reason employees can't retire early from SF is the EXPENSIVE INSURANCE.
For one/ yourself is 543.20. For 2 1086.40 if you were age 50 as of 1/1/2012. For the others for 2 is 1968.78 which is ridiculous. For others after the hire magical date 2109.84 and 2851.14. Thats why most seek it outside of SF. The company wants it that way. It's cr-ppy by comparison.
@er It is not under $500. The Group Medical Retiree PPO plan is $543/month for 2026 if hired before 1/1/07.
What sf retirement medical benefits that are under 500? There is nothing but cobra for retirees.
Why don't you get the State Farm retirement medical benefits that are under $500/month?
It's also only good for 18 months
Cobra is not worth it
Never take the cobra. You can get cheaper health insurance if you search it out.