Retirement Planning for New Orleans Residents

When retiring before age 65, many people have to do some careful financial planning since they lose their group health insurance and aren't old enough to qualify for Medicare. Those faced with a loss of medical insurance, should investigate the following options:

    * COBRA (Consolidated Omnibus Budget Reconciliation Act) benefits
    * HIPA (Health Insurance Portability and Accountability Act) benefits
    * Converting a group policy to an individual policy
    * Purchasing a separate individual policy
    * Obtaining benefits under a spouse's employer


Individual policies can be very expensive, but you may get a discounted rate if you're affiliated with a labor union or professional association." COBRA benefits generally last for 12 to 18 months and require premium payments, copays and additional fees. COBRA may be cheaper than an individual health care policy, however. Some carriers offer reduced individual rates to those who were previously insured under a group plan. Financial planners can assist you in finding insurance products that are affordable for early retirement. The good news for many retirees is that Medicare eligibility is around the corner.

Financial Planning and Insurance Solutions for New Orleans, LA Residents

FBT Investments, Inc. provides clients with insurance information and a variety of product offerings to suit their budget and health care needs. Call (504) 584-5888 from New Orleans, LA or toll free at (877) 809-8400 to speak with a representative about your insurance or financial planning needs.