Step 1. Talk with your financial advisor about retirement planning.

Bring your retirement hopes and dreams to your financial advisor and nail down a budget. This will tell you what health care coverage you can afford, and help you allocate money for prescription medications, doctor visits, surgeries and other health related needs that may come up in your retirement years.

 

Step 2. Talk with a Life Stage Support Counselor on how each health care plan available to you fits with your unique needs.

Your trusted Life Stage Support Counselor will know the ins and outs of every option available to you including COBRA, the health insurance marketplace, private insurance market options, health sharing ministry programs, and short term medical policies. Forsite’s Life Stage Support Counselors are seasoned health insurance experts that advocate for our clients, not a direct insurance carrier. So you can be sure the education our team provides on each option available to you is transparent and truthful, and all conversations had with our counselors are 100% confidential.

 

Step 3. Take home all the information you are given and thoroughly digest it.

Consider your health history, current medications, budget, retirement lifestyle and family needs to make the best and most educated decision.

 

Step 4. Confidently choose your health care coverage and get help enrolling.

Once you have chosen the plan that makes most sense for you, take your decision to your Life Stage Support Counselor to guide you through enrollment in that plan. Forsite’s Life Stage Support Counselors will not only help you execute the plan you have chosen but continue to be a resource as you navigate your new plan in retirement.

Common Mistakes to Avoid as an Employee Nearing Retirement.

1. Doing nothing or waiting until the last minute.

The complexity of the health care system coupled with fear and anxiety of change in health care plans causes many individuals to do nothing or wait until the last minute to get information on retiree health plan coverage.

 

2. Making decisions with the information you receive in the mail and online.

The bombardment of retiree healthcare information in the mail as well as information on the internet can often be misleading and not paint you the whole picture. Talk with your financial advisor and Life Stage Support Counselor on how each plan interacts with your healthcare needs.  

Now that you have a step-by-step guide to choosing health insurance for your retirement, prioritize your and your family’s health. Take care of your heart! And combat chronic illness. Use some of your new time to meal prep, cook at home, and get active.

Enjoy retirement!

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