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Home > Obamacare .... and This and That -- Weigh In

Obamacare .... and This and That -- Weigh In

January 9th, 2015 at 02:00 am

So NE signed up for health insurance through the Nebraska state site in December. He went with the plan that had the best numbers - low deductible, low out of pocket and low premiums.

He went to the doctor today and found out that his right shoulder is dislocated, and then went for an MRI to see about his rotator cuff, etc. (He didn't finish the MRI, but will be going back to finish it in a different open machine.)

While he was at the doctor's he found out that his particular plan is going belly up as of Feb 15. So ... he's going to have to find a new plan.

I wonder if that would count as a life event where you would be able to get insurance past the open enrollment period?

So very frustrating.

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I talked to my boss today about the retirement stuff. I found out that I'll be vested 100% in 7 years. Also that there is something called early retirement and regular retirement - early means 25 years of service and at least 50 years old; regular is 25 years and 63 years old. She didn't know what exactly that meant though (and she was dismayed to find out it was 25 and not 20 years ... she's close to the 20 year mark.)

I wonder what the difference is between when you're vested and the early/regular retirement designations are? If I am ready to retire at 55, I'd be vested, but wouldn't qualify for early or regular retirement. If I work there 25 years, that would put me at 63 and regular retirement. (UGH! Cannot imagine doing this job for 25 years. DOUBLE UGH!)

I also found out that the retirement contributions used to be even sweeter - as in for every $1 the employee put in, the city put in $2 (up to a limit.) Some group got upset about it and so they changed the plan to what it is now. Can you imagine? Contribute $50 and the city matches $100?

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For the first week of January I am down ... 5 lbs! I think a good bit of it is water weight, but I'm just glad to be heading the right direction again.

Although I have been tempted a time or two or three ... I have not stopped at a fast food place or at any other type of convenience store in January.

Tonight I watched episode 5 of POI while stepping for most of it (about 35 minutes, sat and rested for the rest of it.)

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I am thinking more and more about investing in dividend stocks. My discretionary funds are already stretched pretty thin with my various goals, but I'm just really itching to do something like that.

I do have a goodly sum in an old 403(b) plan that I want to move over to Vanguard. Maybe I could put it in a brokerage account and use that to buy dividend type stocks?

If anyone could point me to some good resources (i.e. simple language) to help me figure out what to do, I'd appreciate it. I know quite a few of you invest in DRIPS, which I *think* are dividend stocks, right?

4 Responses to “Obamacare .... and This and That -- Weigh In”

  1. dmontngrey Says:
    1420802208

    Yes, loss of coverage is considered a qualifying event that would allow him to find other coverage. What a pain though! Has his plan even notified him??

  2. ceejay74 Says:
    1420841212

    So do you get a pension plus what you contribute? I guess what I mean is, if you left before the 25-year mark, what would you get? Your contributions minus their matching? Or would you get the matching too?

  3. FrugalTexan75 Says:
    1420847473

    Dmontngrey - They did contact him to let him know that they were being taken over by the state I think (although he read an article in the paper a few days before he was notified.) There was nothing about them going belly up though.

    ceejay - Maybe that is what it is. I'm hoping that in the next week or so I'll be sent some info about all this from HR. The things we found online weren't too explanatory.

    I would think if I am vested after 7 years that means I get my contributions plus theirs. So the ER/RegR must be some other kind of benefits - maybe healthcare??

    They do contribute $33/paycheck to a post employment health plan that when you retire or leave they pay 33% of any unused sick time into.

  4. doingitallwrong Says:
    1420909487

    DRIPs are dividend stocks, but the dividends are reinvested into the stock. Dividend-paying stocks send you a check for the dividends on a regular basis (quarterly is common). (DRIP stands for Dividend ReInvestment Plan)

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