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Shannon Lebert

There are many things that soon-to-be retirees must consider before they retire. They need to create retirement goals, track their expenses, have their finances in order, and much more to help ensure a comfortable retirement and full enjoyment of their golden years.


However, there is one more important consideration that a hospital employee must contemplate before they retire: health benefits.


Why Is This Important?


If you are retiring soon, it’s crucial that you know whether your health benefits will end once you stop working. You may believe that you’ve paid your dues, worked hard, and deserve to have the same level of coverage once you retire; however, you may be in for a shock. Many hospital employees do not realize that their plans state that they must be employed to benefit from coverage. Once you retire, your benefits might disappear.


Even if your medical benefits do extend into retirement, it’s important to note that your benefits might shrink significantly. Once you retire, you may not get the same coverage that you’ve had through your entire career. Shrinking retiree benefits plans is becoming a popular trend for employers. Life expectancy is at an all-time high and healthcare costs are spiraling out of control. Many organizations are struggling to keep up by offering strong benefits packages to their retirees. As a result, they’re making last-minute changes to their retiree benefits plans or cutting them altogether.


It’s important to be prepared for this bleak future of retiree health benefits to ensure that you can retire when you want to and still get the coverage and protection that you need.


Stay Protected with HCP


Some benefits plans have been developed specifically with this new trend in mind. There are options available to you. By applying for HCP health benefits, for example, you can have the confidence in knowing that your health needs will continue to be taken care of once you stop working.


Health Care Providers (HCP) offers voluntary group benefits plans that can ensure that you have access to great health benefits once you retire. There are two plans, with different levels of coverage, that you may be eligible for.


Option 1: Under 65 Years of Age


If you will be under 65 years of age once you retire, you will be eligible to apply for guaranteed health coverage under HCP’s Plan 2. This plan offers extended healthcare coverage as well as optional basic or extended dental coverage. You will be covered for most prescription drugs, out-of-country travel, private duty nursing, medical items, and paramedical services, such as massage therapy, acupuncture, chiropody, and more. In addition, you’ll be covered for emergency transportation, vision and audio care, and accidental dental.


Over the Age of 65 


Retirees aged 65 and older are eligible to apply for HCP’s 65+ Plan. This plan includes much of the same coverage as Plan 2, including travel insurance and cancellation insurance, private duty nursing, vision and audio care, paramedical services, emergency transportation, and medical items. However, prescription drug coverage is not guaranteed. Basic or Extended dental coverage is also offered as an add-on to the 65+ Plan.


Don’t wait until it’s too late. If you’re a hospital employee planning to retire soon, apply for HCP’s comprehensive group benefits package to ensure that your health needs continue to be taken care of once you retire. Coverage is guaranteed and applying is easy. Participating in a voluntary group benefits plan can give you the confidence and peace of mind of knowing that you’ll be covered for both small medical needs as well as unforeseen medical emergencies. You’ll be able to enjoy your retirement, without worrying about healthcare costs.



Shannon Lebert

Shannon is the Benefits Administrator and Medical Underwriter for HCP and HMA. She conducts research to determine plan members eligibility for higher levels of coverage and enjoys working with the hospital human resources staff to ensure their employees are informed of the unique HCP group benefit plans. Shannon loves being an HCP team member and takes pride in being detail oriented. Outside of work, she loves spending time outdoors at the cottage, backcountry camping, and biking. When not outdoors, Shannon can be found watching movies and snuggling with her dog.
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