Understanding healthcare in retirement

The annual healthcare open enrollment period is coming soon. This year, while you’re reviewing your coverage, take some time to understand what your healthcare costs and benefits may look like after you stop working.

One of your biggest expenses in retirement may be healthcare costs. It’s important to know where to go to understand your health insurance options. The Washington State Healthcare Authority website can help you get started. They have resources including webinars and example timelines to help you plan your retirement.

You may be able to get retiree benefits through PEBB (Public Employees Benefit Board). Your employer will determine your eligibility. If you qualify, you can choose from a menu of medical, dental and vision coverage similar to what you had during your employment.

When you’re ready to retire, the Social Security Administration website can help you enroll in Medicare. You must enroll and stay enrolled in Medicare Part A and Part B to keep PEBB retiree insurance coverage. Make sure you take the time to understand the different enrollment periods, so you don’t miss any deadlines. For more information, see our Health Care in Retirement video, or any of the Washington State Health Care Authority’s retirement webinars.

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