{"id":10531,"date":"2020-01-27T15:34:18","date_gmt":"2020-01-27T21:34:18","guid":{"rendered":"https:\/\/wp.stolaf.edu\/hr\/?page_id=10531"},"modified":"2026-04-27T11:47:05","modified_gmt":"2026-04-27T16:47:05","slug":"under-age-65-retirement-planning","status":"publish","type":"page","link":"https:\/\/wp.stolaf.edu\/hr\/under-age-65-retirement-planning\/","title":{"rendered":"Under Age 65 Retirement Planning"},"content":{"rendered":"

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Assisting Your Retirement Pre-65<\/h2>\n \n\t\t\t\t\t

Individuals, who are under age 65, have three options<\/strong> to consider for healthcare and related benefits.<\/h4>\n\n\t\t\t\t<\/div>\n\t\t\t<\/div>\n\t\t\n\t\t\t\t\t\t\t\t<\/div>\n\n\n\t\t\t\t\n\t\t\t<\/div>\n\t\n\t<\/div>\n\n\n\n\t\t\t\n\t\n\t\t\t
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Option 1: COBRA<\/h2>\n\n\t\t\t<\/header>\n\t\t\n\t\n\t\n\t
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HEALTH INSURANCE<\/h6>\n\n\n\n\n\n\n\n
<\/td>\nGold Core Health Plan\u00a0<\/strong><\/td>\nSilver High Deductible Health Plan<\/strong><\/td>\nBronze High Deductible Health Plan<\/strong><\/td>\n<\/tr>\n
Employee Only<\/strong><\/td>\n$ 944.00<\/td>\n$ 874.00<\/td>\n$ 799.00<\/td>\n<\/tr>\n
Employee + Child(ren)<\/strong><\/td>\n$ 1,688.00<\/td>\n$ 1,590.00<\/td>\n$ 1,458.00<\/td>\n<\/tr>\n
Employee + Spouse<\/strong><\/td>\n$ 1,911.00<\/td>\n$ 1,820.00<\/td>\n$ 1,670.00<\/td>\n<\/tr>\n
Employee + Family<\/strong><\/td>\n$ 2,885.00<\/td>\n$ 2,774.00<\/td>\n$ 2,550.00<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

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Vision<\/strong><\/h6>\n\n\n\n\n\n\n
<\/td>\nCOBRA<\/strong><\/td>\n<\/tr>\n
Employee Only<\/strong><\/td>\n$ 7.54<\/td>\n<\/tr>\n
Employee + One<\/strong><\/td>\n$ 10.94<\/td>\n<\/tr>\n
Employee + Family<\/strong><\/td>\n$ 19.61<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n
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Dental<\/strong><\/h6>\n\n\n\n\n\n\n\n
<\/td>\nCOBRA<\/strong><\/td>\n<\/tr>\n
Employee Only<\/strong><\/td>\n$ 37.00<\/td>\n<\/tr>\n
Employee + Child(ren)<\/strong><\/td>\n$ 70.00<\/td>\n<\/tr>\n
Employee + Spouse<\/strong><\/td>\n$ 107.00<\/td>\n<\/tr>\n
Employee + Family<\/strong><\/td>\n$ 141.00<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n
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Basic Life INSURANCE<\/h6>\n
$0.081\/$1000<\/strong><\/h5>\n
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VOLUNTARY Life AND DEPENDENT LIFE insurance<\/h6>\n

\"\"<\/p>\n

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Flexible Spending Accounts (FSA)<\/h6>\n

If you have a balance remaining in your Dependent Care FSA after your termination from employment, your participation in this benefit will be deemed to continue until you have \u201cspent down\u201d your Account or through the end of the Plan Year in which your termination occurred, whichever occurs first. You can submit Dependent Care Expenses incurred after the date of your
\ntermination but before the end of that Plan Year. All other Plan requirements for
\neligibility of Dependent Care Expenses, including that the expenses must be necessary for
\nyou to work or to find work, must be satisfied.<\/p>\n

Medical expenses incurred after the date of your termination from employment will not be eligible for reimbursement unless you elect to continue your participation in the Medical FSA. This includes Medical Expense Reimbursement and the Dependent Care Reimbursement<\/a>.<\/p>\n\n\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\n\t\t\t\t\t<\/div>\n\n\t\t\t\t<\/div> \n\t\t\t\n\t\t<\/div> \n\t<\/div> \n\n\n\t\t\t\t\n\t\t\t<\/div>\n\t\n\t\t\t<\/div>\n\t\n\n\n\t\t\t\n\t\n\t\t\t

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Option 2: MNSure.org<\/h2>\n\n\t\t\t<\/header>\n\t\t\n\t\n\t\n\t
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MNSure is Minnesota’s health insurance marketplace\u00a0where individuals and families can shop, compare and choose health insurance coverage that meets their needs.<\/span><\/p>\n<\/blockquote>\n

Find Free Help Near You:<\/b><\/h6>\n

https:\/\/www.mnsure.org\/help\/find-assister\/index.jsp<\/span><\/a><\/p>\n\n\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\n\t\t\t\t\t<\/div>\n\n\t\t\t\t<\/div> \n\t\t\t\n\t\t<\/div> \n\t<\/div> \n\n\n\t\t\t\t\n\t\t\t<\/div>\n\t\n\t\t\t<\/div>\n\t\n\n\n\t\t\t\n\t\n\t\t\t

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Option 3: Move to a Spouse’s Plan<\/h2>\n\n\t\t\t<\/header>\n\t\t\n\t\n\t\n\t
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Retirement is a qualifying life event that would allow you to move on to a spouse\u2019s insurance plan.\u00a0 Be sure the plan has \u201ccreditable coverage\u201d as defined by Centers for Medicare & Medicaid Services (CMS), if you are going to remain on your spouse\u2019s plan after age 65.<\/span><\/p>\n<\/blockquote>\n\n\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\n\t\t\t\t\t<\/div>\n\n\t\t\t\t<\/div> \n\t\t\t\n\t\t<\/div> \n\t<\/div> \n\n\n\t\t\t\t\n\t\t\t<\/div>\n\t\n\t\t\t<\/div>\n\t\n\n\n\t\t\t\n\t\n\t\t\t

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Using Emeriti Retirement Healthcare Savings Plan (VEBA) for Reimbursement<\/h2>\n\n\t\t\t<\/header>\n\t\t\n\t\n\t\n\t
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Learn how it works:<\/h6>\n
click here<\/a><\/h6>\n<\/blockquote>\n\n\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\n\t\t\t\t\t<\/div>\n\n\t\t\t\t<\/div> \n\t\t\t\t\t\t\t
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Submit qualified medical expenses using this form:<\/h6>\n
QME FORM<\/a><\/h6>\n<\/blockquote>\n\n\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\n\t\t\t\t\t<\/div>\n\n\t\t\t\t<\/div> \n\t\t\t\n\t\t<\/div> \n\t<\/div> \n\n\n\t\t\t\t\n\t\t\t<\/div>\n\t\n\t\t\t<\/div>\n\t\n\n\n\t\t\t\n\t\n\t\t
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\"Medicare<\/figure>\n\n\t\t\t\n\t\t\t\t\t<\/div>\n\n\t\t
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WHEN YOU’RE READY TO ENROLL<\/h2>\n\n\t\t\t
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in Medicare Parts A and B, contact Social Security first. Then, reach out to Human Resources<\/a> to learn about the Emeriti Retiree Health Insurance Plans through HealthPartners.<\/h4>\n\n\t\t<\/div>\n\t\n\t<\/div>\n\n\t\t\t<\/div>\n\t\t<\/div>\n\t<\/div>\n\n\t\t\t\t\n\t\t\t<\/div>\n\t\n\t\t\t<\/div>\n\t\n\n\n

<\/p><\/div>","protected":false},"excerpt":{"rendered":"","protected":false},"author":4261,"featured_media":0,"parent":0,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"","meta":{"_acf_changed":false,"footnotes":""},"class_list":["post-10531","page","type-page","status-publish","hentry"],"acf":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/wp.stolaf.edu\/hr\/wp-json\/wp\/v2\/pages\/10531","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/wp.stolaf.edu\/hr\/wp-json\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/wp.stolaf.edu\/hr\/wp-json\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"https:\/\/wp.stolaf.edu\/hr\/wp-json\/wp\/v2\/users\/4261"}],"replies":[{"embeddable":true,"href":"https:\/\/wp.stolaf.edu\/hr\/wp-json\/wp\/v2\/comments?post=10531"}],"version-history":[{"count":47,"href":"https:\/\/wp.stolaf.edu\/hr\/wp-json\/wp\/v2\/pages\/10531\/revisions"}],"predecessor-version":[{"id":22437,"href":"https:\/\/wp.stolaf.edu\/hr\/wp-json\/wp\/v2\/pages\/10531\/revisions\/22437"}],"wp:attachment":[{"href":"https:\/\/wp.stolaf.edu\/hr\/wp-json\/wp\/v2\/media?parent=10531"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}