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."
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