Many employers continue to offer health insurance to their retirees in addition to Medicare. However, this can be very confusing as benefits and costs change over the years. A retiree also has to be very careful because dropping a retirement plan sometimes means never being able to get it back. So finding the right advisor you can trust in this situation is crucial. Most often if an employer is offering retirement insurance, it’s important to consider it.
However, there are times when employer coverage for a spouse of an employee is considerably more expensive than Medicare. Or your employer decides to no longer offer retiree coverage.
Recently, many companies have been offering retirees an HRA (Health Reimbursement Account) that basically reimburses the employee for whichever Medicare plan they chose. In that situation, the employee needs to fully understand their Medicare options and to completely understand how to take advantage of the reimbursement money your company is offering.
Our advisors are familiar with many of the scenarios in Alabama and are happy to review your options to help you better understand your choices.
Some of the more common retiree plans in Alabama are:
Find Medicare options that work with your other coverage.
- PEEHIP (Public Education Employees’ Health Insurance Plan)
- FEP (Federal Employee Program)
- UMWA (United Mine Workers of America)
- TRICARE (retired military)
- ACIPCO (American Cast Iron and Pipe Company)
- Railroad Retirement Board
- US Steel