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Planning for Retirement

Created by Fire Fighters for Fire Fighters

Your Tax-Sheltered Plan for Medical Expense Reimbursement in Retirement

Once you have a retirement date in mind, you’ll want to start thinking about your options for medical coverage in retirement.

IAFF HWT offers Medicare Advantage and Medicare Supplement plan options to IAFF retirees and their spouses who are entitled to Medicare. See Medicare Plan Options to learn more. Non-Medicare coverage is available only to retiring members of a group actively participating on IAFF HWT plans. If you are not eligible for Non-Medicare plans through IAFF HWT, you may be eligible for retiree coverage through your employer or may have other options available in your area, such as individual and family coverage direct through an insurer or through a Health Exchange.

3-12 Months from Retirement

Investigate what plan options are available to you and get an estimate of the monthly cost. In addition to contacting the Trust Office to see what retiree plans are available you through IAFF HWT, you may also have the opportunity to enroll on another plan, such as through your spouse’s employer. It is helpful to learn not only plan designs and rates, but also the timelines available to enroll in coverage.

1-3 Months from Retirement

Confirm your mailing address and email address with the employer and/or Local to ensure you receive materials to the correct address after your separation of employment. This is also a great time to follow up if you need updated information on plan options available to you (new plans, rates, etc.).

At Retirement

Typically, your employer will notify the Trust Office of an upcoming retirement on or around your retirement date. Within a few weeks of notification, the Trust Office will prepare a packet of the plan options you have to choose from in retirement. These options will likely include COBRA as well as any Non-Medicare or Medicare options available to you. The packet with this information will be mailed to your home address and can be emailed upon request. Please contact the Trust Office with questions or if you don’t receive this packet within 10 business days of retiring.

Making Your Plan Elections

There is an election window if you wish to continue coverage. Please be sure to read through your packet from the Trust Office promptly and carefully so you don’t miss deadlines. Completed enrollment forms and premium payment should be sent to the Trust Office using the information provided on the forms.