Working Past 65: What Happens to Group Benefits?
When you work past 65, your group benefits often continue but may have reduced coverage or new limitations. Health plans might shift to seniors' programs, while travel insurance could be capped at 180 days.
Key takeaways
- Health benefits may transition to senior-specific programs like the Seniors’ Drug Cost Assistance Program (DCAP).
- Travel insurance often has a limit of 180 days for trips after age 70.
- Some coverage ends earlier if you stop working or retire.
Health Benefits Transition
When employees work past 65, health benefits typically shift to programs designed for seniors. For example, the Seniors’ Drug Cost Assistance Program (DCAP) covers drug costs not covered by your group plan after age 65.
Travel Insurance Limits
After turning 70 and continuing to work, travel insurance under a group plan often has new limits. Coverage is usually capped at the first 180 days of a trip, and pre-existing medical conditions must be stable before traveling.
Coverage Ends Early
- Stopping employment: If you stop working, your benefits end sooner than if you had retired.
- Retirement: Benefits may also terminate earlier based on the specific plan rules and insurer policies.
Frequently asked questions
Does my travel insurance still cover me after age 70?
Travel coverage usually has a limit of 180 days for trips after turning 70, with conditions needing to be stable before traveling.
What happens if I retire at 65 and continue working part-time?
Your benefits may change or end earlier based on your new employment status. Check your specific plan details for how coverage is affected by reduced hours.
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