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Cobra available for "quit"


road turtle

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From AXZ website:

 

  • Terminated salaried employees who were hired on or after 1/1/2004 and were, at the time of separation;
    • at least 65 years of age with 5 or more years of service, or
    • at least 55 years of age with 10 or more years of service
  • Terminated hourly employees who were hired on or after 10/24/2011 and were, at the time of separation;
    • at least 65 years of age with 5 or more years of service, or
    • at least 55 years of age with 10 or more years of service, or
    • any age with 30 or more years of service
  • Employees of approved subsidiaries, affiliates, and organizations

All of the above may generate (i.e. sponsor) A/Z-Plan PINs for the following family members:

 

 

So the new retirement is "terminated at advanced age with some service". 

 

Know someone who left Ford, who is pension eligible. They will REGAIN Z plan eligibility when they finally collect a pension. 

I hesitate to call it the new normal. 

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6 hours ago, balthisar said:

Yes, COBRA is available. This is a life change, and without income, you might be better off with your state's exchange. COBRA is expensive.

I get that.  But with the exchange, deductibles are extremely high, and I'll only need it for a few months.  I'll look at it again in the fall

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20 hours ago, paintguy said:

So the new retirement is "terminated at advanced age with some service". 

 

Know someone who left Ford, who is pension eligible. They will REGAIN Z plan eligibility when they finally collect a pension. 

I hesitate to call it the new normal. 

I'm literally caught between events.  I'll be 65 in February and joined ford 9 years ago in January.  I could stay until Feb getting to both 65 and 10 years, however, my wife is medically retired and we're ready to start the next phase of my life.  We've had too many health issues and as reminded by a dear and departed friend, everyday is a gift.  It was actually a hard decision to stay until until August, but we don't travel much in the summer anyway, preferring to travel in the off season. Plan two years ago was to stay until 65, but Covid literally sped up our retirement plans, including the SD and 5th wheel.

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16 hours ago, road turtle said:

I get that.  But with the exchange, deductibles are extremely high, and I'll only need it for a few months.  I'll look at it again in the fall

 

Yeah, good point if you've met your $7000 or whatever. COBRA is a continuation rather than a new policy, so the premium for a few months are likely to be less than meeting a new high deductible on the exchange.

 

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