Postponed Retirement - FHEB Eligibility

[skobydog]

I am eligible to retire early but in order to be eligible for FEHB benefits I will need to "postpone" my retirement until age 62.

My questions are the following:

Am I REQUIRED to keep some type of health insurance between now and age 62 or can I go for a period of time and not lose the option to FEHB reinstated when eligible (age 62)?

Second Question:

In order to be eligible for FEHB a person needs at least 5 years of coverage prior to separation. For dental/vision there seems to be no minimum time, I am reading that I only need to have this coverage prior to separation.

Is this true that I only need to have this coverage at time of separation? Thank you

 

[Bullitt]

It does not matter what FEHB enrollment you have now since you can change during open seasons in retirement. You need it for the full five years. If you sign up next open season in November 2021, your five year clock won't start until 2022.

There is no FEDVIP five year rule and you can apply for the first time after you retire.

 

[skobydog]

It does not matter what FEHB enrollment you have now since you can change during open seasons in retirement. You need it for the full five years. If you sign up next open season in November 2021, your five year clock won't start until 2022.

There is no FEDVIP five year rule and you can apply for the first time after you retire.

Thanks for the info, everything so far seems to make sense.

I don't think I am REQUIRED to have health insurance while waiting if I CHOOSE not to. For some reason I thought I did but that wouldn't make sense.

Thanks for info

 

[nasa1974]

It sounds like you are not currently enrolled in an FEHB program. If that is the case then if you want FEHB coverage in retirement then you have to be enrolled in an FEHB program for 5 years prior to retirement.

 

[evilanne]

I am eligible to retire early but in order to be eligible for FEHB benefits I will need to "postpone" my retirement until age 62.

My questions are the following:

Am I REQUIRED to keep some type of health insurance between now and age 62 or can I go for a period of time and not lose the option to FEHB reinstated when eligible (age 62)?

Second Question:

In order to be eligible for FEHB a person needs at least 5 years of coverage prior to separation. For dental/vision there seems to be no minimum time, I am reading that I only need to have this coverage prior to separation.

Is this true that I only need to have this coverage at time of separation? Thank you

You have. to have FEHB coverage for the. 5 consecutive years leading up to retirement. Going for a period of time without it would not qualify you. There is a waiver available if it something beyond your control, but you haven't indicated anything in you post that would indicate such. See https://www.opm.gov/healthcare-insu...als/reference/annuitants-and-compensationers/

As Bullitt said, there isn't any time period requirement for vision & dental, but policies may have a waiting period for certain coverages. You really need to look at the individual plans.

 

[flalaw97]

You should ask an HR benefits specialist. Yes the rules say you must have a FEHB plan for the 5 years right before retirement but if you are using a VERA (Voluntary Early Retirement Authority) that requirement might be waived - depends on your circumstance/agency. https://www.opm.gov/policy-data-ove...cturing/voluntary-early-retirement-authority/