As a school district employee, my salary earned for a ten month employment contract is paid out in twelve monthly installments. This means my paychecks (and benefits) continue through the summer. It’s actually been a nice way to ease into full-on retirement.
Today’s mail brought the first of two expected COBRA notices. Everything except for health insurance coverage is provided by the local school districts. I got the school district’s COBRA notice today. The unexpected bonus was learning that my dental plan is eligible for COBRA continuation coverage at the same reasonable employee rates. Is it necessary? No, but it will definitely be nice to have with my upcoming dental work.
Here’s hoping the switch to COBRA for the health insurance side goes as smoothly. That notice is expected sometime in August – but I’ve already been in contact with them to advise I wish to keep the coverage for both of us.
If you are changing jobs or retiring, be sure to take full advantage of all benefits available to you before you leave. We made sure to get our wills and estate documents updated using my legal coverage benefit before it runs out at the end of July. Don’t forget to rollover any 401(k) and 403(b) accounts either.