The 31-year-old Reed missed four December games because of a variety of injuries, including problems with his neck, hip and groin.
"I've been thinking about it, and it kind of hit me on the sidelines," he said Saturday after a 20-3 playoff loss to the Colts. "It's going to be a long offseason. It hurts. I am just thinking about it.
"I'm 50-50. I am going to re-evaluate things and see how it goes in the next couple of days."
The six-time Pro Bowler was the 2004 Defensive Player of the Year. He had one interception of Peyton Manning on Saturday night, but fumbled on his runback, handing the ball back to the Colts. He also had an interception and long return erased by a pass interference penalty on teammate Corey Ivy.
Reed has a franchise-record 46 interceptions and 13 career touchdowns. He is the only player in NFL history to score TDs by blocking a punt and returning a punt, an interception and a fumble.
But Reed has been hindered over the past two seasons by a damaged nerve in his neck, among the other injuries. He made only three interceptions this year, yet made the Pro Bowl.
"It wasn't a weird nomination. I played the majority of the season," he said.
Copyright 2010 by The Associated Press