Retiree medical insurance

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anonymous

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Hoping some recent retirees or soon to be can shed some light.

I’ve researched this a lot but still unclear.

I’m 54 and debating about waiting 1 more year to qualify for retiree jnj health insurance.

is it worth staying another year or can you get aca health insurance in the exchange for just as cheap?

It would be for my wife and I
 


Current retiree here - Assuming you have at least 10 year of service at J&J or will have by next year. If you are only a year away from 55, it would be foolish to walk away from J&J now. 55 will allow you to continue with J&J insurance for you and your wife in perpetuity. When you qualify for Medicare, J&J insurance transitions to supplemental coverage for what Medicare does not cover.
 




anonymous said:
Current retiree here - Assuming you have at least 10 year of service at J&J or will have by next year. If you are only a year away from 55, it would be foolish to walk away from J&J now. 55 will allow you to continue with J&J insurance for you and your wife in perpetuity. When you qualify for Medicare, J&J insurance transitions to supplemental coverage for what Medicare does not cover.
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Not to mention any unvested stock you may have stays with you at the normal vesting schedule. If you leave you forfeit anything unvested and have to liquidate current holdings within 90 days. I would wait!
 




anonymous said:
Current retiree here - Assuming you have at least 10 year of service at J&J or will have by next year. If you are only a year away from 55, it would be foolish to walk away from J&J now. 55 will allow you to continue with J&J insurance for you and your wife in perpetuity. When you qualify for Medicare, J&J insurance transitions to supplemental coverage for what Medicare does not cover.
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Thanks! Can someone tell me what the ballpark monthly cost would be versus the 2?

I’ve been here 17 years if that helps
 




anonymous said:
Hoping some recent retirees or soon to be can shed some light.

I’ve researched this a lot but still unclear.

I’m 54 and debating about waiting 1 more year to qualify for retiree jnj health insurance.

is it worth staying another year or can you get aca health insurance in the exchange for just as cheap?

It would be for my wife and I
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J&J will find some way to whack you before they payout retiree health insurance. Ask all the people at JJSurg Vision what happened to them. ANYONE nearing that SPECIAL date was fired. SCUMBAG COMPANY!!!
 








anonymous said:
Hoping some recent retirees or soon to be can shed some light.

I’ve researched this a lot but still unclear.

I’m 54 and debating about waiting 1 more year to qualify for retiree jnj health insurance.

is it worth staying another year or can you get aca health insurance in the exchange for just as cheap?

It would be for my wife and I
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Don’t leave, make them give you a package.
 












There is a formula that's used to determine how much J&J contributes to your retiree healthcare. Add your age and years of service. The minimum is 65 (55 +10) and the maximum is 90 (60+30). You can try to find the exact formula through AskGS. I was never able to.
 




I’m in your same situation as OP. Just ran the numbers and it shows $1200 month thru jnj at 55 for my wife and I .

On the open exchange it shows $850 for a uhc high deductible plan
 



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