Retiring with no Health Insurance benefits

I had someone call me today who was a retiree asking what happens between the time I retire and turn 65 with no Health insurance pension benefits.

Well, there are quite a few options. First, If you have major prexisting conditions:

* Take the Cobra option for as long as you can (usually 18 months) if you have major pre-existing conditions especially if you have cancer, heart problems, diabetes, back issues and blood disorders. Getting a private individual plan will be difficult but not impossible. Some insurance companies have limited benefit plans for those major pre-existing conditions.

If your Cobra runs out:

Ohio - Has Hippa plans which they enroll a certain amount of individuals at a time even if they have major pre-existing conditions.

www.assuranthealth.com/corp/ah/state/ohio


Kentucky - Has Kentucky Access if they are denied by a private insurer for pre-existing conditions.

www.kentuckyaccess.com/index.cfm

Some insurance companies will offer Group conversion plans which will cover pre-existing companies but the premiums will be high, if not higher than Cobra.


* Take a short term plan if all else fails. Every state has them and they range from 6 months to a year. Although it won't cover you for your pre-existing conditions it will cover you for catastrophic coverage such as accidents.