Staying On Your Union Health Care Or Getting Individual Healthcare After Retirement

Retiring can often seem like the big decision. The truth is, there are a number of choices that you will need to make after retirement that will affect you monetarily and in your lifestyle. If you retire as a part of a union, you may still be able to keep your healthcare as a part of your retirement package. If you are retiring at age 65 or higher, you will also be eligible for Medicare. Here are some things to note about your healthcare coverage after you retire as a union worker and how it affects your health care. 

You may still have remaining health care benefits

If you retire as a member of a union with a retirement package, you may still have health insurance to go along with your package. This can be a normal health care package that you had when you were still working or it can be a part of a Medicare Advantage plan. Before you sign your official retirement papers, get your union representative to go over the health care portion of your package. This will help you learn what will be covered via your retirement benefits and if you need to make up for a shortfall anywhere else. 

You can opt out of the health package

If you would prefer more healthcare coverage via another Medicare Advantage plan, you can elect to choose your own health care. Often, this means that you will be canceled from the healthcare that you have with your union. In order to make the decision to opt out, you will need to get quotes for your own Medicare Advantage plan plus healthcare quotes for those that you cover. If you still have dependents on your health care plan through work, you will need to get a price on a Medicare Advantage Plan for yourself and separate health care plans for them. Be sure to compare prices and plans before you officially opt out of the healthcare package. 

Your living plans dictate which medical plan works

Benefits through your union may or may not travel with you wherever you go. Some Medicare Advantage plans will exist only within a certain area, which means that straying too far means that you pay out of pocket. If you plan to do a lot of traveling as a retiree, ask your union representative if you will need to purchase a Medigap program or if the union health care insurance will cover healthcare during your travels. If your plan does travel with you, be sure that you properly understand how to locate in-network providers so that you stay within your financial coverage range.  

To learn more, visit a website like http://scis.us.