Help with Pre 65 Healthcare decision(s)

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Topic Author
karptj
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Joined: Sat Jan 26, 2019 3:17 pm

Help with Pre 65 Healthcare decision(s)

Post by karptj »

My wife and I are both 60 and will retire this year. We both have retiree healthcare benefits from each of our employers but looking for advice on how to navigate each plan.

She receives $64k in Healthcare "credits" to use to purchase Health and Dental from her employer plan only. The credits have no other value (can't cash them out or invest them or use them for any other plan).

She also has an HSA account worth $30k (invested in equities).

I have $8k in an HRA that can be used for anything health related.
When I retire my sick leave converts to an HRA that is valued at $140k that can only be used tax free for Premiums (Can't be used for deductables or Co-pays). Mine is flexible enough to use on any plan but again can only be used for premiums.

So, altogether we have about $240k in different accounts (HSA, HRA, Company Health Credits) and multiple health plans to pick from from each employer from age 60 to age 65 and then transition to Medicare.

After she retires at 60 she can delay starting her retiree insurance up to age 65. Once we start our employer retiree plans we cannot leave and come back. So, if I jump to her plan I can't return to my plan BUT I can use my $140k in my HRA to be reimbursed for her premiums on her plan. Oh, and her credits will be reduced by 50% when she is 65 and medicare legible. Whew. :confused

Does anyone know a resource we can turn to to help sort this all out? Our employer benefits department know their own plan but no one has been able to help us navigate the the best way to choose a path using the funds and plans.
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