Not old enough for Medicare but over 55 with 28 years of service. Can anyone tell me if taking the lump sum versus monthly payout has a negative impact on the Ford assist with healthcare costs until Medicare eligible? Thank you.
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@1anj. You might want to check again on SIRP and HRA dollars. If you are retired you are eligible for HRA dollars. HRA dollars can be used for after tax premiums paid.
@1anj+1jli1IxL How much does Cobra cost? What did you pay?
Use Cobra for 18 months as it is the cheapest option. 102% of current cost. You keep what you have and the Pre HRA dollars can be used to pay for it. Most of the options on Via Benefits have $7K and $14K deductible plans.. Monthly is similar but out of pocket is twice what we currently have.
The SIRP and included heath care is way over rated anyway because I could have got Cobra and been about equal.. When my 9 months runs out I will take Cobra for the remaining months.
SIRP folks did not get Pre HRA dollars.. That will kick in at 9 months when we are fully out of the Ford health care system..
Overall it has taken 45 days to get all of that in order. I just got my lump sum payments so things are finally winding down. Good luck to all the folks that are leaving Nov30.
Thank you!
No difference at all.
It doesn't matter whether you take the lump sum or the monthly pension, you still get the health benefits. I took the lump sum, I am 58 and use Ford's reimbursement benefit that they switched me to last year. You still get health benefits if you take the lump sum.