Preparing for retirement?

Who do I work with in retirement?

You may work with one or more of the following:

• Washington State Department of Retirement Services (DRS)
  DRS manages and distributes pension and Deferred Compensation benefits to participating retirees.
• Social Security Administration (SSA)
  SSA manages your Social Security enrollment for Medicare benefits.
• Washington State Health Care Authority (HCA)
  HCA manages Public Employees Benefits Board (PEBB) retiree insurance coverage.

Note: If you have a higher-education retirement plan, talk to your payroll or benefits office.

Step 1: Get answers

What's most important for me to know? 

It's important to understand your options, when you should sign up, and how Medicare works with PEBB coverage.

• When do I sign up? 
• What does PEBB retiree insurance cost? 
• What if I'm still working after age 65? 
• How does Medicare work with PEBB benefits? 
• Retirement resources

Example timeline

If you are thinking about retiring, follow these steps.

If you or any dependents are retiring close to your 65th birthday or ending employment at age 65 or older

Contact the Social Security Administration (SSA) to enroll in Medicare Part A and Part B. Note: Social Security is currently experiencing longer than usual processing times for Medicare enrollment requests. We strongly encourage applying to Social Security for Medicare enrollment three months before your Medicare start date. 

If you or any dependents are eligible for Medicare, you must enroll in Medicare Part A and Part B to enroll in PEBB retiree insurance coverage. Visit Medicare and turning age 65 to learn more about Medicare and what you have to do to keep your PEBB benefits.

Medicare enrollment periods

Make sure you understand the Initial Enrollment Period (IEP) and Special Enrollment Period (SEP) for Medicare and how these timelines affect the start date of Medicare.

3 to 12 months before retirement

• If you have a DRS retirement plan, contact DRS for any steps you need to take, which may include requesting an estimate of your benefit.
• If you don't have a DRS retirement plan, contact your employer to determine if you have a retirement plan and, if so, when you will be eligible to retire from the plan.

3 months before retirement

• Contact the Social Security Administration to enroll in Medicare Part A and Part B, if eligible. Note: Social Security is currently experiencing longer than usual processing times for Medicare enrollment requests. We strongly encourage applying to Social Security for Medicare enrollment three months before your Medicare start date. 
• Download the Retiree Enrollment Guide. If you would like a print copy, call the PEBB Program at 1-866-577-2793 (TRS 711) to request one.
• Check with your employer or union representative for VEBA eligibility and participation.

2 to 3 months before retirement (no later than 60 days after your current coverage ends)

• Submit any required retirement application to DRS or your employer.
• Submit your enrollment application in Benefits 24/7 or Form A and any supporting documentation. The PEBB Program must receive your request or the form no later than 60 days after your employer-paid, COBRA, or continuation coverage ends.
  (If enrolling in a Medicare Advantage with Part D plan or UMP Classic Medicare with Part D (PDP), the PEBB Program must receive the forms prior to the month your retiree insurance coverage begins to avoid a delay in your Medicare Advantage with Part D plan or UMP Classic Medicare with Part D (PDP) starting.)
• If you are requesting to enroll, submit your first month's premium payment by check, if required, and choose an ongoing payment method.

Step 2: Research coverage options

What are my coverage options?

Visit Retiree insurance coverage options for information about plan options and retiree monthly premiums. 

Find details on: 

• Retiree premiums
• Medical benefits
• Dental benefits
• Vision benefits (for non-Medicare members)
• Retiree term life insurance

Compare plan options:

• Online Medical Plan Comparison tool
• PEBB Medicare Plans Benefits Comparison
• Medical Benefits Comparison (non-Medicare plans)
• Dental Benefits Comparison
• Vision Benefits Comparison (for non-Medicare members)

Step 3: Enroll or defer

Do you know when and how to enroll?

There are important deadlines you need to know. In most cases, you have 60 days from when your employer-paid, COBRA, or continuation coverage ends to enroll in or defer retiree insurance coverage.

• When should I enroll?
• How do I enroll?
• I have other coverage. What should I do?

Step 4: Pay for coverage

How do I pay for coverage?

In most cases, before we can enroll you, you must make your first payment no later than 45 days after your 60-day election period ends.

After you make your first payment, you have three options to pay for coverage:

• Pension deduction
• Automatic bank withdrawal
• Monthly invoice

If you have a VEBA account, you can set up automatic reimbursement of your qualified insurance premiums.

Learn more about how to pay for retiree insurance coverage.

Step 5: Use your benefits

How do I use my benefits?

When you're ready, find out how to get services.

• Contact my plan
• Find a provider

My employment is ending without retirement. What options do I have?

If you do not meet DRS or your employer's criteria for retirement, or you choose not to retire (begin receiving a retirement benefit) when your employment ends, you may have the option to enroll in COBRA coverage as a "bridge" to PEBB retiree insurance coverage.

When you notify your employer of your intent to retire or separate from employment, and your termination has been processed, the PEBB Program or SEBB Program will send you a PEBB Continuation Coverage Election Notice or a SEBB Continuation Coverage Election Notice, which begins a 60-day window in which you may apply for COBRA.

If you do not apply for COBRA during this timeframe, you may lose your right to enroll in PEBB retiree insurance coverage. If you enroll in COBRA as a "bridge" to PEBB retiree insurance coverage, you must meet the eligibility criteria to retire when your COBRA ends.