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Medicare & group health plan after you retire


Will my group health plan still work after I retire?

It would depend on the terms of your specific plan. Other employers might not offer any health coverage after your retirement and even if you can get one, it might have different rules and might not work the same way with Medicare.

When you have retiree coverage from an employer or union, they usually manage this coverage. Employers aren't required to provide retiree coverage, and if they would, they can change benefits or premiums, or even cancel coverage.  They may offer coverage that limits how much it will pay. It might only provide a stop-loss coverage that starts paying your out-of-pocket costs only when they reach of coverage that's covered.


What happens to my retiree coverage when I'm eligible for Medicare?

When you become eligible for Medicare, you will need to have both Medicare Part A and Medicare Part B to get full benefits from your retiree coverage. If your former employer offers retiree coverage, and you didn't sign up for Medicare even if you're eligible, then the coverage might not pay your medical costs during your eligibility period. 

If you're not sure how your retiree coverage works with Medicare, get a copy of your plan's benefit materials or look at the summary plan description provided by your employer or union. You can also call your employer's benefits administrator and ask how the plan works when you have Medicare. 

1-800-MEDICARE (1-800-633-4227)
TTY users - 1-877-486-2048














How does retiree coverage compare to a Medigap policy?

Your retiree coverage is likely to be similar to coverage under Medigap policy since Medicare pays first after you retire. However, Retiree coverage isn't the same as a Medigap policy but, like a Medigap policy, it usually offers benefits that fill in some of Medicare's gaps in coverage. Sometimes retiree coverage includes extra benefits, like coverage for extra days in the hospital. 

If you choose to buy a Medigap policy, the best time to get is during your 6-month Medigap Open Enrollment period. At this time, you can buy any Medigap policy sold in your state even if you have health problems. This automatically starts the month you're 65 and enrolled in Part B, and once it's over, you can't get it again. 


What happens if I have group health plan coverage after I retire and my former employee goes bankrupt or out of business?

If your employer goes bankrupt or out of business, federal COBRA rules may protect you if any other company within the same corporate organization still offers a group health plan to its employees.  The plan is required to offer you COBRA continuation coverage. If you can't get COBRA continuation coverage, you may have the right to buy a Medigap policy even if you're no longer in your Medigap Open Enrollment Period. 

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