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Posted on 6/6/25 at 9:43 am to crownroyaltiger
quote:
Sorry, my wording could have been better, I was surprised by how many co workers were not aware of the fact that employee provided healthcare goes away when you retire.
Why wouldn't it go away. You are no longer working for the company. Did you know once you retire, they also stop paying your salary, no longer contribute to your 401k, no more profit sharing, won't reimburse your expenses, you lose your company car...
Posted on 6/6/25 at 9:44 am to crownroyaltiger
If I understand correctly, your are not talking about employers providing health care insurance for current employees (which most employers do). Rather, you are talking about employers who continue to provide healthcare to employees after they retire, effectively for the remainder of their lives.
Two points. First, retirement plans that include healthcare used to be a common feature until employers figured out that they couldn't afford it. So (outside of government plans) you are unlikely to see this offered anymore.
Also, the benefit is uncertain, as the courts have said that the employers can terminate or reduced the healthcare, even after the employee retires (i.e. the benefit is not vested).
Two points. First, retirement plans that include healthcare used to be a common feature until employers figured out that they couldn't afford it. So (outside of government plans) you are unlikely to see this offered anymore.
Also, the benefit is uncertain, as the courts have said that the employers can terminate or reduced the healthcare, even after the employee retires (i.e. the benefit is not vested).
Posted on 6/6/25 at 9:47 am to Crow Pie
quote:
Why would a company provide (or would the OP expect) a company to provide healthcare to a person who doesn't work there?
A lot do, its called a benefit.
Posted on 6/6/25 at 9:49 am to andwesway
quote:
Many can afford to retire before then, but the insurance takes a huge hit of their monthly income.
BINGO
Posted on 6/6/25 at 10:02 am to crownroyaltiger
quote:
I was surprised by how many co workers were not aware of the fact that employee provided healthcare goes away when you retire
Ah...yes.
It's so important for people to carry employer (or previous employer) paid health coverage as long as possible. Once they lose it or opt out of it ant into medicare or medicare advantage, they can almost always never get back that employer coverage.
It's not surprising but is still alarming how many people don't know about health insruance for unhealthy as we are as a population.
Posted on 6/6/25 at 10:12 am to thegreatboudini
The reading comprehension in this thread is remarkably bad, the OP is ignorant, the replies are just plain stupidity.
Posted on 6/6/25 at 10:19 am to armsdealer
He edited his thread after several people commented, myself included.
Originally this had basically nothing to do with retirement.
Originally this had basically nothing to do with retirement.
Posted on 6/6/25 at 10:27 am to Saintsisit
quote:Again..why provide benefits to someone that doesn't work there?
A lot do, it's called a benefit.
Posted on 6/6/25 at 10:41 am to crownroyaltiger
quote:
they basically have to work till 65/medicare to continue having healthcare
Not a solid retirement strategy.
But yes health care and associated costs are what keeps us working till we can't physically.
But I would assume that a reduced retirement income would qualify you for a plan on the Obamacare exchanges and a tax credit for coverage depending on how much retirement you are collecting.
Posted on 6/6/25 at 10:49 am to Yaboylsu63
quote:
Go somewhere else.
That’s pretty standard to offer health insurance.. even shitty HDHP plans at minimum.
That should tell you everything about that company.
It's not super common to keep getting healthcare from the place you retired from unless its a huge company.
This post was edited on 6/6/25 at 10:51 am
Posted on 6/6/25 at 10:52 am to BigBinBR
Yeah, my dad had this option at his company, but you had to work there 20+ years to get the benefit, and you had to pay the whole premium. It was still cheaper than getting his own policy though. He retired around 59 or so and did that until 65.
Posted on 6/6/25 at 10:52 am to Auburn80
quote:
Very rarely do companies offer that. This is nothing new. You have to buy your own if you retire early.
Many used to and a few still do. I believe Dow is one and some of the major oil companies.
Exxon had its own medical center in Baton Rouge for years with its own doctors. Stanacola Medical on Foster Drive and Greenwell Springs Road. Yeah…let that sink in.
I have been self employed for 45 years so I’ve paid mine in full for my entire adult life and today it is my biggest expense.
Posted on 6/6/25 at 10:58 am to crownroyaltiger
This thread is a shite show
Posted on 6/6/25 at 11:02 am to crownroyaltiger
quote:
Employer provided retirement healthcare coverage
If you’re talking about health insurance after you retire, that continues to be provided by your employer, I’ve never heard of it.
Posted on 6/6/25 at 11:08 am to WeeWee
quote:
Did you not read your benefits package closely or talk with someone in HR about it?
If he works for a small company his HR person probably does payroll and book keeping as well as making sure there are snacks and coffee in the breakroom.
Posted on 6/6/25 at 11:13 am to Colonel Angus
quote:
We have two people 74 years old, still working. Yet both stay on our health care plan and pay the premiums (30% of the total) instead of getting on Medicare. This blows my mind.
Thats because if they went on Medicare their health care coverage would cost more and maynot be as good.
Curious, how much do you think they would pay if they went on Medicare?
Posted on 6/6/25 at 12:03 pm to crownroyaltiger
If you retire prior to you Medicare eligibility your primary option is exploring a federal premium subsidy through the healthcare exchange. The subsidy amounts have increased much more than most people realize. I just finished writing up a 55 year old and his wife with a $75,000 annual income and they qualified for a $1300 per month premium subsidy.
Posted on 6/6/25 at 12:05 pm to Crow Pie
quote:
Again..why provide benefits to someone that doesn't work there?
Its a benefit while you are working there to know when you retire you get a good priced insurance until you hit 65.
Posted on 6/6/25 at 12:10 pm to PsychTiger
quote:
You must see your doctor a lot then.
Good comeback, lol. I’m not getting away with no doctor’s visits. Between my healthcare worker wife and my doctor son they are all over me, lol. Colonoscopy last summer. It sucks
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