Bridging the Gap to Medicare
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If you are retiring before the age of 65 and do not have retiree insurance benefits, you may need to bridge the gap to Medicare. Here are some of the options you may have to help you bridge the gap.
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Bridging the Gap to Medicare
- 1. Bridging the Gap to Medicare
- 2. Bridging the Gap to Medicare If you’re retired or plan on retiring before the age of 65, you may need to bridge the gap to Medicare
- 3. Options for Bridging the Gap to Medicare COBRA Spouse’s Health Plan Exchange Plans Private Insurance Target Audience Estimated Cost Former employees Eligible spouses/ partners of covered employees Anyone Anyone $$ - $$$ $ - $$ $$ - $$$ $$ - $$$ Source: Fidelity
- 4. Bridging the Gap to Medicare After employment ends, you have the option to continue current group insurance coverage under COBRA for 18+ months COBRA
- 5. Bridging the Gap to Medicare Pay 102% of full cost of coverage under previous group planCOBRA
- 6. Bridging the Gap to Medicare Must enroll within 60 days of separation of service or notification of eligibility COBRA
- 7. Specific cost will depend on the amount contributed by your spouse’s employer Spouse’s Plan Check with specific plan rules for rules and costs
- 8. May not be a permanent option if spouse terminates employment Spouse’s Plan Check with specific plan rules for rules and costs
- 9. Bridging the Gap to Medicare Visit: healthcare.gov Or: @ your state’s exchange CA: coveredca.com Exchange Plans
- 10. November 1 - December 15 Coverage begins January 1 of following year Bridging the Gap to Medicare Exchange Plans Apply during:
- 11. Bridging the Gap to Medicare Exchange Plans - Adoption - Marriage - Move from coverage area - Lost previous coverage Special Election:
- 12. Bridging the Gap to Medicare Medicaid Health care program that assists low-income families or individuals in paying for long-term medical and custodial care costs
- 13. Bridging the Gap to Medicare Medicaid Medicaid is a joint program, funded primarily by the federal government and run at the state level, where coverage may vary
- 14. Bridging the Gap to Medicare “Off-exchange” private plans are purchased through insurance companies directlyPrivate Plans
- 15. More Information: Bridging the Gap to Medicare Medicare.gov Healthcare.gov Department of Labor COBRA website dol.gov/general/topic/health-plans/cobra Pure Financial Advisors, Inc. (877) 222-6044 | purefinancial.com Bridging the Gap to Medicare
- 16. Bridging the Gap to Medicare Those awaiting 5 years in the United States to establish Medicare eligibility should seek information from their legal and insurance professionals on bridge plans for this purpose, exchange-based plans or on Medicaid in their state of residence if applicable. This presentation does not specifically focus on this area. Disclaimer: Investment Advisory and Financial Planning Services are offered through Pure Financial Advisors, Inc., a Registered Investment Advisor. The Advisor does not attempt to furnish personalized in- vestment advice or services through this presentation.