At GPIS we help hundreds of federal employees retire every week and one of the biggest questions we get is: How does my health insurance work when I retire? When we visit with federal employees, we share the following tips:
- You must have at least 5 consecutive years going into retirement to carry your Federal Health Plan.
- Depending upon which federal agency you are employed, there could be increases in cost.
- You will be able to change your health plan each year after retirement during open enrollment.
- The employee must have the 5 consecutive years to continue to receive health care benefits, not the spouse
- The 5 consecutive years does not have to be with the same federal health plan.
- Some health plans require Part B Medicare and some do not.
- You should speak with a professional to find out if Medicare is right for you and explore all of your health options.
If you have additional questions on how your health insurance will work when you retire, schedule your FREE Retirement Analysis today.
Each member of our expert staff has extensive background working with the federal government, federal employees, and retirement planning. GPIS’ top priority is making sure each federal employee retires with the peace of mind that comes from knowing they made the right decisions to plan ahead and maximize their retirement benefits. We’re here to help!