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If you quit work before you turn 65, you’ll likely lose access to your employer’s health insurance plan. It’s still possible to get coverage, however — through a spouse, new employer or ...
Also, participating employment-based plans could obtain reimbursement for a portion of the cost of providing health insurance to early retirees. [15] In July the Pre-Existing Condition Insurance Plan (PCIP) took effect to offer insurance to those who had been denied coverage by private insurance companies because of a pre-existing conditions.
In addition, employees who lost group health insurance due to reduced work hours on or after Sept. 1, 2008, followed by involuntary termination between March 2 and March 31, 2010, will now be eligible for the COBRA subsidy. [23] The Continuing Extension Act of 2010 extends premium assistance for COBRA benefits through May 31, 2010. [24]
A less severe form of involuntary termination is often referred to as a layoff (also redundancy or being made redundant in British English). A layoff is usually not strictly related to personal performance but instead due to economic cycles or the company's need to restructure itself, the firm itself going out of business, or a change in the function of the employer (for example, a certain ...
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3. They may be withheld if you earn too much money. You might think you'll kick off retirement without savings but manage just fine on a combination of Social Security and earnings from a part ...
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