There’s No Turning Back From Some Retirement Choices

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Certain benefits decisions are irrevocable.

Retirement is a very big life decision, involving financial considerations as well as emotional concerns. But deciding whether and when to retire isn’t the only big choice. Once you’ve concluded it’s time to take the plunge, there are other decisions to make. And some are irrevocable. Let’s look at what you can change and what you can’t turn back from.

Federal Employees Health Benefits Coverage

You are eligible to continue FEHB coverage into retirement if you meet these two requirements:

  • You must be entitled to retire on an immediate annuity (including retirements under Federal Employees Retirement System minimum retirement age+10 provisions).
  • You must have been continuously enrolled or covered as a family member in an FEHB plan for the five years of service immediately before the date the annuity starts, or for the full period of service since your first opportunity to enroll (if less than five years).

You can cancel your coverage after you retire, but you can only get it back under limited circumstances. For example, if you’re continuously covered as a family member on your spouse’s FEHB enrollment, you can resume your own enrollment if your coverage under your spouse’s enrollment ends for any reason. But if you’re not covered under a family member’s FEHB, and you cancel your enrollment, that’s a one-way ticket out of the program. Click HERE to find out more.