Is there a law requiring insurance continuance?
 

I just passed my 61th birthday. Last Sept I was dx stage 1 invasive carcinoma. I work at a hospital (this does not help at all). I want to retire but the normal retirement is still four years away. Is there a law that requires the insurance company to cover me if I retire now? At 65, I know I can pick up the social security medicare. I don't suppose any new insurance company will accept me now. Someone told me that the insurance company must continue my enrollment for 18 months; then someone said it is 24 or 30 months. Are there anyone who knows for sure on this very critical point? I work now just to keep my health insurance covering my medical treatments. If I can get medical insurance coverage, I would retire tomorrow. My hospital employer is no help at all, they told me that if I have continued personal leave, I will be automatically discharged from the hospital and out of a job and out of health insurance. My hubby is retired and has his separate insurance; so this route will not work.

Thanks for your reply.

Ann

Ann, here's a web site I found that's devoted to just this issue. Hope it helps. <3 Lolly

RETIRE EARLY
http://www.retireearlyhomepage.com/health.html

Ann, there's also COBRA, don't know if you already know about this:


Continuation of Health Coverage - COBRA
http://www.dol.gov/dol/topic/health-plans/cobra.htm

The Consolidated Omnibus Budget Reconciliation Act (COBRA) gives workers and their families who lose their health benefits the right to choose to continue group health benefits provided by their group health plan for limited periods of time under certain circumstances such as voluntary or involuntary job loss, reduction in the hours worked, transition between jobs, death, divorce, and other life events. Qualified individuals may be required to pay the entire premium for coverage up to 102 percent of the cost to the plan.

And last but not least, there are some states who have in place what's called "Risk Pools", guaranteed health insurance for otherwise uninsurable people, ie: those with a pre-existing condition. They're usually expensive. This is how I got insurance, my risk pool in Oregon is managed by BCBS, and it is good coverage. But not cheap :)

HealthInsurance.org
http://www.healthinsurance.org/riskpoolinfo.html

Risk pools - affordable health insurance
for medically-uninsurable individuals

High-risk health insurance plans "risk pools" -- have become an important

safety net for individuals who are denied health insurance because of a medical condition. More than 250,000

enrollees in the 30 states which operate risk pools have been provided with comprehensive insurance protection since the first pools were started in 1976. Risk pools provide a vehicle for individuals who, because of their physical condition, are unable to purchase heath insurance at any price.

A risk pool is a state-created, nonprofit association that -- in most states -- does not require tax dollars for its operational purposes. The risk pools are a temporary stopping point for individuals who are denied health insurance for medical reasons. Risk pools often help individuals fill a gap in insurance coverage

Thanks a lot for your kind reply. I was not totally aware of these two plans. Your thread helps me to understand the situation.


Ann