Too young for Medicare. Want to retire but need insurance

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BJKinNebr
BJKinNebr Member Posts: 36
edited April 2018 in Employment, Insurance, and Other Financial Issues

I realize each state has different programs and requirements ref retiring and retaining health insurance. I am a state employee in Nebraska. I have stage 4 metastatic breast cancer. Just starting my third year of chemo treatment and just turned 62. My job is very stressful and there are days where I really have to talk myself into going to work. I do have a retirement plan through the state, which is helpful but I wonder how long it would last if I had to pay all medical expenses out of pocket. I know I need to go talk to a financial planner. It would just be nice to enjoy what time I have left instead of all the stress of working and juggling chemo treatments and worrying about keeping the bills paid. Any thoughts or suggestions would be helpful

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  • cive
    cive Member Posts: 709
    edited January 2018

    There's always Obama care, although I'm not sure enrollment is still open in Nebraska as it is in California.  You can also check with your state's office of insurance, they have people that you can talk with that will tell you what your options are.  Lastly, usually you can get COBRA for some time after you quit your job.  You would just be paying the premiums rather than your employer. 

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  • ElaineTherese
    ElaineTherese Member Posts: 3,328
    edited January 2018

    Hi!

    Because you are Stage IV, you should be automatically accepted into the Social Security Disability program. Once you have been accepted by SSD, you can apply for Medicare. But, I believe you have to wait a year (?).

    Hopefully, some more knowledgeable people will drop by and explain it to you better than I have.

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  • proudtospin
    proudtospin Member Posts: 5,972
    edited January 2018

    i was in your position,but had insurance through small business in nj. Hated my job. One day i walked in and asked to be fired.,!i kept my insurance by paying cobra for full time allowed. Then got unemployment for a time and stretched it out till a date close to my retirement age. Finally pulled the plug , found out that when i no longer had expenses of communting to work......it was workable. Do speak to a financicial planner. First make a list of debts, expenses

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  • Spookiesmom
    Spookiesmom Member Posts: 9,568
    edited January 2018

    I was a state employee who retired early. I was able to keep my insurance from my employer, but at full price. $600 a month for just me. I also receive a monthly payment towards that cost. Then I hit Medicare and switched to an Advantage plan. I still receive the small amount for insurance.

    I suggest calling your state retirement center, talk over your options. You may be surprised.

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  • LimnoGal
    LimnoGal Member Posts: 157
    edited January 2018

    I also work for state government, and I agree with Spookiesmom. Go talk to your retirement folks. They can lay out all of your options for your state benefits, and they can direct you to the Social Security folks. You likely have more options than you think.

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  • proudtospin
    proudtospin Member Posts: 5,972
    edited January 2018

    maybe you could do a part time thing , i thought about that but if you can get the ins thing worked out, retirement life is cheap!

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  • artistatheart
    artistatheart Member Posts: 2,176
    edited January 2018

    I believe Medicare takes two years to kick in after you apply for Disability (unless you turn 65 of course)

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  • BJKinNebr
    BJKinNebr Member Posts: 36
    edited January 2018

    Thanks everyone for your comments. After my chemo treatment today, I talked to a social worker at the

    Cancer Center here. It looks like it might be totally possible!!!!! I can file for early retirement and for the

    disability, plus my state retirement fund. I just need to find out what Cobra insurance will cost and possibly

    compare that to a Market Place insurance policy and see which has the best coverage for the price. I'm

    excited, a little scared and sad. I have loved what I do for 37 years, but things have changed so much, it's

    just not the same and the stress isn't doing me any favors. It's time for me to put me first!!! I'll keep you

    posted!!!!!

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  • Spookiesmom
    Spookiesmom Member Posts: 9,568
    edited January 2018

    Good to hear. Check for sure, you may be able to keep the insurance your agency has. I could have kept it for life. It’s not COBRA, that’s only for 18 months. It was great insurance but too expensive for me to keep.

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  • proudtospin
    proudtospin Member Posts: 5,972
    edited March 2018

    bj.....i just happened to check back, so glad you fould a way to make the retirement numbers work for you! Hope your life is smoother now

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  • BJKinNebr
    BJKinNebr Member Posts: 36
    edited March 2018

    Thanks everyone. It looks possible. I just have to figure out how to fill the 3 month gap between the day I retire and when my retirement and social security kick in. That's going to be tricky.


    Barb

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  • proudtospin
    proudtospin Member Posts: 5,972
    edited March 2018

    bet you can make it work! I did!

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  • illimae
    illimae Member Posts: 5,710
    edited March 2018

    I recommend talking to your HR people too, if you haven’t already.

    I work for the state of Texas and was surprised to find that I could medically retire, keep my insurance, get my 401k and pension due to my stage iv diagnosis. I plan to retire this summer at age 43.

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  • lyzzysmom
    lyzzysmom Member Posts: 654
    edited March 2018

    Have you discussed the possibility of working part time with HR or manager or do you want to completely retire? I cut my hours to 24 after BC which was enough to keep insurance. Did this for 3 years then got laid off. Benefits expire in June and I plan to either use COBRA for 18 months or try to find something more affordable via Obamacare, which I will then need to do anyway as cobra would expire a few months before I turn 65.

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  • NotVeryBrave
    NotVeryBrave Member Posts: 1,287
    edited March 2018

    My sister in law applied for Social Security disability with Stage IV bladder cancer. She was approved easily at age 56.


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  • BJKinNebr
    BJKinNebr Member Posts: 36
    edited March 2018

    Well, after checking with my insurance agent and looking at how I would be able to finance the gap between my last day of work and the 3 months it takes for retirement and Social Security to kick in, it looks like I'll be working for a while. It's just not financially possible at this point. In some ways, maybe it's better that I keep working while I can. It keeps my mind occupied and gives me something to do each day.

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  • proudtospin
    proudtospin Member Posts: 5,972
    edited March 2018

    bj, best of luck and hope the 3 months go quickly

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  • BJKinNebr
    BJKinNebr Member Posts: 36
    edited March 2018

    Oh, wish it were that easy Proudtospin. The way things look at this point, short of winning the lottery, I'll be working till I either turn 65 or it's time for treatment to end and go into hospice. Being single/divorced and living just on my income, it's really hard to put aside the kind of money I would need to pay bills, rent, etc for those 3 months between last day at work and when retirement and social security would kick in. The big issue is the cost of the COBRA insurance that I would need. But like I said, maybe it's for the best right now. My job keeps my mind busy and I'm not just sitting at home dwelling on other things

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  • proudtospin
    proudtospin Member Posts: 5,972
    edited March 2018

    sorry i never thought i had enough saved, but when a pal blew up at me when i said my community expensive was 15.50 a day..........i realized that expensive would go away. Cobra was big for me as my company was small with not good ins. I am single and well, it is working, good luck

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  • sweetp6217
    sweetp6217 Member Posts: 365
    edited April 2018

    Just my two cents, but Cobra can be hit or miss. Perhaps it's better than it was 15 or so years ago when I had experience with that, but depending on when the claims hit, they may be paid or they may bounce. Cashing your check for the premium is a huge priority to them, but not making sure that you're covered without any interruptions.

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  • proudtospin
    proudtospin Member Posts: 5,972
    edited April 2018

    when i was on cobra, yeah, sending the premium to my former employer was always important. She used to tell me when to get the check to her, it always seemed like a lot and seemed that she was asking for it early. But i collected for about 6 months till I hit my retirement date. I live in NJ that is all I know.

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