3 things to know about retiree health coverage

1. Find out if you can continue your employer coverage after you retire. Generally, when you have retiree coverage from an employer or union, they control this coverage. Employers aren’t required to provide retiree coverage, and they can change benefits or premiums, or even cancel coverage.

2. Find out the price and benefits of the retiree coverage, including whether it includes coverage for your spouse. Your employer or union may offer retiree coverage for you and/or your spouse that limits how much it will pay. It might only provide “stop loss” coverage, which starts paying your out-of-pocket costs only when they reach a maximum amount.

3. Find out what happens to your retiree coverage when you’re eligible for Medicare. For example, retiree coverage might not pay your medical costs during any period in which you were eligible for Medicare but didn’t sign up for it. When you become eligible for Medicare, you may need to enroll in both Medicare Part A and Part B to get full benefits from your retiree coverage.

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Pamela Fugitt-Hetrick LUTCF

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