Illinois Health Insurance Continuation Rule of Thumb

Often, a simple rule of thumb can be used in choosing health insurance continuation:

If your actual age is less than 63-1/2 when you retire, (more than 18 months away from age 65), you may wish to continue your health insurance under Illinois legislation, as you will not be limited to 18 months of coverage.

If your actual age is 63-1/2 or older and your spouse is younger than you when you retire, health insurance continuation under COBRA may be more desirable. Under COBRA, your spouse has the option of extending the health insurance for 18 additional months after your coverage ends at age 65.