My husband is retiring at age 61 and I am disabled. The insurance dept. at his work said we will have six more months of health insurance coverage then we have to make a decision. At that time they said I need to sign up for Medicare Part B and then I could be on the Cobra plan with my husband. (I was told I have to be on Medicare before I can get Cobra.)
I'm really confused about Cobra. Our son says he would not advise us to get Cobra. It's the same plan his dad has now without the life insurance and without disability insurance. He said Cobra is not a good health insurance plan and we could find a much better plan on the internet.
The main advantage we see with Cobra is we will still have the same deductible we have now which is $300, have dental and vision coverage (not much, but better than nothing) and have prescription coverage that is fairly good.
Our son says paying $571 a month is too high and we can do better by finding a plan on the internet. He did say the plan would have a much higher deductible. Why would we want to do what he is suggesting when we can get Cobra (at least for 16 months) with a lower deductible, which will get my husband a little closer to age 65 when he also will be eligible for Medicare and then we can get a supplemental plan for both of us?
Am I missing the picture? Can anyone shed some light on Cobra?