I retired early at 60, and had worked for the company for 28 years. I was eligible for their retirement benefits, and I took them. Now I'm 70, and the coverage is much better than Medicare. Check it out with your HR area.

Sometimes, employer-offered health care is of better quality than anything you can get on the open market so paying COBRA rates can make good sense. I'm sure you will do your due diligence before resigning.

If you currently have insurance through the company talk to that insurance company and see what they can offer, they already have your medical history. For example we have blue Cross Blue Shield of TX through my husbands company, when he retires we will consider their options for my coverage he has Medicare. Also talk to your physician to be certain they will accept the new insurance.

Consider an hsa plan if you don't go to the doctor often. Also you may be able to get low cost vaccinations from the county and low cost blood tests at community health fairs.

Thanks for all replies so far - you're quick! I've only been at this company for about 4 years so won't have many (any?) benefits when I leave. I did call BCBS to find out if I am correct that health care continues through the month of my last day (for example, if my last day is Friday, December 2, does my health care continue through December). They told me that that is up to the employer. So - not sure about that yet. Good idea to see if I can work something out with BCBS as you suggested, Raven.

All ideas, advice, questions, and thoughts are welcome and appreciated.

I go through my state of Colorado's health portal for Delta Dental insurance. It saves me about half off of a policy I can get directly through Delta Dental. Then for medical, I buy a catastrophic plan with a $3k annual deductible. Have you checked your states health portal?

You are probably perfectly healthy, as am I. But I recently had a surprise medical issue - completely unexpected (gallstones escaping my gall bladder). When all was said and done, my medical bills were over $97,000 - luckily I have great insurance. I hope you're prepared for the unexpected, should something like that crop up.

Insurance coverage varies so much from state to state. You'll need to do your research. Many people misunderstand COBRA. COBRA is an expensive option usually. All it is really is allowing you an option to purchase the same insurance coverages available to you now but you pay the full premium cost. There is no company contribution so expect the premium to be double or more of what you currently pay and it's only allowed for about 6 months following separation so you still have to find another option in a few months. Most of the time you can get reasonable coverage for a lot less but many people like the comfort level of keeping what they have when making a change. My experience, albeit unusual, was not good with COBRA. One foul-up after another and I just wound up going without insurance and frankly was glad that I did. But that was years ago now and insurance is required now unless you want to pay the alternative. And the problems I had were with the employer and not COBRA itself nor the insurance company.

Here we have a website and a number to call to find out about insurance options. If you have something similar, I'd check that out. It could be very helpful to give you ideas of rates and coverages.

A lot of times company programs include options you could live without and save substantially. For instance there's time there's vision or dental coverage and often they're not very good but they add substantially to the premium. Of course this all varies so much that there's no one rule but my point is that you should look at what it includes and what you really need and want. Maybe you could go with a higher deductible, which could save a lot too.

If you do go through with resigning, I'm sure you'll enjoy it. I've left jobs many times with few regrets. You sound like a sensible person and I'm sure things will work out fine. Best of luck to you no matter what happens.

I retired at 60 and used Cobra until I qualified for Medicare. It was outrageously expensive...like 800 a month. When Cobra ran out, I joined a regional Health Care Cooperative, Group Health (should have done it sooner and saved some $$), which was never my first choice for health care, but I've been very happy. I selected them because in my area (and I'd guess many others) I'd worked with seniors with legal problems and I talked to so many who were on Medicare and could not find a doctor who would accept new Medicare patients. And some of the ones who would, were not the best docs in town. I knew if I was a GH member that once I got Medicare, they would keep me as a patient and I wouldn't be without a doctor.

Thank you. Yet again the folks at The Kitchen Table have come through. I appreciate all of the replies and your thoughts. I have much to plan but healthcare insurance is right up there on the most important.

I quite working at 55. I had an independent insurance policy with Blue Cross/Blue Shield for many years. It was around $200 a month. In fact each year when they would want to raise the premium, I called them and talked to them and got a lower than previous premium!! I am healthy too and don't take any prescription drugs. Then the Affordable Care Act came along. I'm surprised no one has really mentioned that here. I have no real income, so I qualified for a very low (less than $10/month) but very good policy. I'm now on Medicare (just this year) and pay more than before, but I am ok with that. Good luck and I hope you enjoy your "retirement". I know I have loved every minute of not working!!!

Do you also have dental and vision insurance? If you want those after you leave work, that will be an extra expense as well. Good luck whatever you decide to do.

P.S. The more affordable the health insurance policy, the more you will be out of pocket, so you'll want to be sure to have some cash available for that.

I assume you don't have a working spouse whose health insurance plan you can pay to join. That's what I did - and I just have to convince him to continue working until I qualify for Medicare! Joining his plan was very reasonable - approximately $120/month.

We have friends who retired very young, in their early 50's, who have to buy insurance on the open market. $900/month. EACH!!! (They have had some health issues.)

After having some problems with my Affordable Care plan I cancelled it. We were required to repay the $98 a month government allowed us for discount, on our taxes. Then next year my hubby did research. Our income is lower than the threshold for having to comply or face a fine. Find out what the income limit is for your level of income using Affordable Care. It could be cheaper, but with so many insurance companies backing out, it may not suit you. Good luck.

If you like your current health insurance then COBRA is your best option. It is good for 18 months. I had cobra after I left a job and it ended up paying for my husband's major surgery and chemotherapy when he got sick two months later. BCBS had to pick up the cost when cobra ran out and I Bought a private policy. I was grateful to have it even though that policy was up to 1600 a month by the time he died.

DH retired at age 66 so he went on medicare but I had another year to wait so I went on COBRA. As others have pointed out it can be expensive. Initially it was only $501 a month but when Obama and Congresss passed the ACA act it more than doubled - it became $1200 a month but luckily I only had two months left before I became 65.

COBRA cost can vary a lot depending on how much your company contributes toward your premium currently. Some employers contribute half, some much more than that. I would expect that your premiums would at least double from your current cost. COBRA isn't always the best option since it's still your employer's plan and you have no flexibility regarding deductible, etc. You may be able to get something better for less by purchasing your own. Ask your HR person what the total for your premium is each month including company contribution.