At a glance
Retiring is different from simply leaving the Company — the same benefits are involved, but Medicare rules change how several of them work. The steps below walk through what ends, what continues, and the decisions you’ll need to make along the way.
The big picture.
Your Medical, Dental, and Vision coverage end on your separation date or last day worked, with COBRA available — but if you’re already Medicare-eligible, COBRA becomes secondary to Medicare, so you’ll need Part A and Part B in place to avoid gaps.
Your last day
Medical, Dental, and Vision coverage end on your separation date (your last day worked), with COBRA available.
EAP coverage ends 30 days after retirement, unless you enroll in COBRA medical.
Life and AD&D Insurance end that day, too — you have 30 days to port or convert to an individual policy. MetLife will mail information to your address on file on how to convert your benefits.
Your 401(k) distribution kit arrives within 30–60 days of your separation date.
Medicare & COBRA
If you’re already Medicare-eligible, COBRA can continue until your qualifying period ends, but it becomes secondary to Medicare — so you’ll need Medicare Part A and Part B in place to avoid any gaps in coverage.
COBRA lets you keep your health coverage for a limited time by paying the full cost yourself plus an administrative fee, bridging the gap while you transition.
Your 401(k)
You're always 100% vested in your contributions to the 401(k). After 1 year of service, you are fully vested in the Company contribution.
Once your distribution kit arrives, you can choose to take a distribution, roll it over, or leave it invested.
If you have an outstanding 401(k) loan, pay it off in full or continue payments through ACH — otherwise, the balance may be treated as a taxable distribution.
Your HSA & FSA
Your HSA funds are yours to keep, even in retirement — they roll over year to year and stay usable tax-free for eligible expenses, including future medical needs in retirement.
Once you’re enrolled in Medicare, HSA contributions stop — but your existing balance remains yours to spend, tax-free, on qualified expenses.
If you’re 65 or older and Medicare-eligible, you’ll need to opt out of the Company’s HSA contribution, per IRS rules.
Health Care and Dependent Care FSA expenses incurred before your separation date can still be reimbursed — submit your claims by March 31 of the following year.
Support along the way
The EAP is available while you sort all of this out — free, confidential support 24/7, including Legal & Financial Services for a confidential conversation about your finances, plus up to 6 counseling sessions per issue, per year, for you and your household. (Remember: EAP coverage itself ends 30 days after retirement unless you elect COBRA medical.)
Who to contact — Visit the Contacts page for more details:
Benefits Support — LSC Benefits Center
401(k) Savings Plan — Empower Retirement
HSA and FSA — HealthEquity
Life & AD&D Insurance — MetLife
EAP — Carelon Wellbeing
Contact the Social Security Administration for specific Medicare and Social Security questions by calling 800-772-1213, available Monday through Friday, 8:00 a.m. to 7:00 p.m. local time.
Keep this handy through every step
Confirm your separation date and what ends that day
If you’re Medicare-eligible, get Part A and Part B in place before COBRA becomes secondary
Opt out of the Company HSA contribution once you’re 65 and Medicare-eligible
Decide whether to distribute, roll over, or leave your 401(k) invested
Pay off or continue any outstanding 401(k) loan
Submit outstanding FSA claims by March 31 of the following year
Use the EAP while you sort out the details — but remember its coverage ends 30 days after retirement unless you elect COBRA medical
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