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Adams County Auditor Bill Borne informed the county commissioners at their meeting on Monday that a new COBRA insurance plan for county employees has been approved.
So, too, has a retirement plan that, according to the Benicomp firm in Fort Wayne, would be utilized from age 62 for early retirement to age 65 [or when a person qualifies for Social Security and Medicare] or the COBRA coverage.
Benicomp says coverages would be offered at the same time and the COBRA coverage is only for 18 months, unless there is a qualifying event to change the status, such as death or divorce.
The employee would be required to sign a waiver opting out of the COBRA coverage if [he or she] chose the offered retiree plan, according to Benicomp. COBRA coverage would not be offered again once the retiree plan has been exhausted at the age of 65 unless a COBRA qualifying event has been experienced by a dependent.
At 65, the retiree would be eligible for Medicare.