Retirement

Retirement can affect the health coverage available to you and your family. Knowing your options and understanding your rights can prevent retirement from meaning an end to all health care coverage.

Depending on your circumstances, you and your family members may be able to continue coverage under your employer's group health plan if the plan provides for retiree benefits. If it does not, then you may have the opportunity to elect COBRA continuation coverage at group rates under your employer's health plan. You may also be eligible for coverage under Medicare or Medicaid. In addition, you and your family members may have the right to enroll in a group health plan sponsored by your spouse's employer, employee organization (such as a union), or both. There may also be opportunities available to you outside the group health plan context.

Before making any decisions, you should carefully consider the information on COBRA continuation coverage and the other coverages for which you and your family members may be eligible to determine which one best meets your needs.

Which type of coverage would you like to consider?

• Retiree health coverage through my former employer's group health plan
• COBRA continuation coverage through my former employer's group health plan
• Enrollment in a group health plan offered through my spouse's job
• Medicare – Government-sponsored health insurance program for people over age 65, the disabled and people with end-stage renal disease who require dialysis or transplantation.
• Medicaid - Government-sponsored health insurance program for low-income individuals and individuals with special needs and their families.
• State Children's Health Insurance Program (SCHIP) – Government-sponsored health insurance program for children of qualified families. Each state determines the income level for families to qualify. In most cases, eligible families can have income levels well above the national poverty level.
• Other Health Coverage - This category includes coverage from another source such as individually purchased health coverage, coverage through a club or association or any other source not listed above.