Preparing for Retirement
Retaining FCPS Health Coverage
Health Care Benefits in Retirement
If you are thinking about retiring, it's important to know about your health care benefits during retirement. Following your last day of employment, your health care insurance coverage will continue:
- Through the end of August if you retire in June, July, or August.
- Through the last month of employment if you retire in any other month.
At the time of retirement, FCPS provides eligible retirees a valuable benefit in the ability to retain health coverage. Your ability to retain coverage can vary based on your date of employment or retirement.
For more details about how retiring will impact your FCPS benefits, please read our Preparing for Retirement packet. There are two versions depending on your retirement system membership:
- ERFC/VRS members: Preparing for Retirement for ERFC/VRS Members packet
- FCERS members: Preparing for Retirement for FCERS Members packet
FSAs at Retirement
Your flexible spending account benefit plan will end on the same schedule as health insurance (above). The last day you may submit claims for your FSA is March 31 of the year following your retirement. However, you must incur the eligible expenses prior to termination of employment.
In order to retain FCPS health coverage as a retiree, you must first meet the following enrollment/tenure requirements:
|Date of Hire/Retirement*||Enrollment or Tenure Requirement|
|Actively employed as of 12/31/18||Covered for 60 or more continuous months immediately prior to retirement
Employed with FCPS for 15 or more years in a benefits eligible position
|Hired on or after 1/1/19||Employed with FCPS for 15 or more years in a benefits eligible position|
*Individuals who were retired and covered by an FCPS medical or dental plan (or the DHO plan) on 12/31/18 meet the enrollment/tenure requirement.
In addition to the above criteria, a retiree must:
- Be covered by the FCPS health and/or dental plan immediately prior to retirement
- For example, if you are retiring on July 1, 2020, you must be covered under the FCPS medical and dental plan on June 30, 2020, to retain coverage as a retiree.
- Elect Medicare Parts A and B when first eligible. For most retirees that occurs at age 65, but may occur earlier due to disability.
- Meet the definition of ‘retiree’ (transition from active status to immediately drawing a pension check from one of the FCPS sponsored pension plans).
If you would like more information regarding retiree health eligibility, review the Frequently Asked Questions about Retiree Health Eligibility.
Health and Dental Coverage in Retirement
If you are eligible, you and your dependents may continue your participation in FCPS medical and dental plans. Visit the Insurance Benefits for Retirees website for more information about plan options that will best fit your unique situation.
Enrolling in Medicare
FCPS requires retirees and spouses who are eligible for Medicare to elect and maintain Medicare Parts A and B in order to maintain health coverage under an FCPS medical plan. This applies to retirees and spouses who will be turning age 65 as well as retirees or covered dependents who are eligible for Medicare due to disability.
If you are a Cigna member, it is strongly recommended that you change plans during the Open Enrollment prior to you and/or your spouse's 65th birthday. Once eligible for Medicare, you will be required to switch to either Aetna or Kaiser, and you will not be able to transfer any money paid towards the deductible to your new plan.
To learn more about Medicare and your FCPS health benefits, please read Becoming Eligible for Medicare.
Canceling or Re-entering the FCPS Plan After Retirement
If you are eligible to retain coverage as a retiree, you may be eligible to drop coverage and re-enter the plan at a later date, provided that you are Medicare-eligible and meet the established criteria. See the Re-entry Rights for Retirees website for more information on retiree re-entry rights.