Getting closer to retirement and want to make sure you\u2019re on the right track financially? The resources on this page can help you check if your finances are in a good place, learn about Medicare, and understand what you need to do in the months leading up to actually retiring.<\/p>\n<\/div>
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<\/span><\/div><\/div><\/div>Financial Planning Resources<\/h2>\n
Do you have enough money saved for retirement? Fidelity can help you figure that out.<\/p>\n
Fidelity\u2019s financial wellness checkup<\/a><\/strong> can help you understand what\u2019s going well and what else you can do to work toward your money goals. Take a few minutes to answer some questions (think: saving and spending, debt management, and more). From there, you\u2019ll get a look into how you\u2019re doing and find tips that can help you move forward.<\/p>\n According to the Fidelity Retiree Health Care Cost Estimate, a single person age 65 in 2024 may need approximately $165,000 saved (after tax) to cover health care expenses in retirement. An average retired couple age 65 in 2024 may need approximately $330,000 saved. Don\u2019t get caught unprepared for expenses in retirement!<\/p>\n You can check the status of your 401(k) at any time by going to www.netbenefits.com<\/strong><\/a>.<\/p>\n<\/div><\/div><\/div> Starting to think about Medicare, but don\u2019t know where to start? You\u2019re not alone. The Medicare process can be complicated and confusing. This brief overview can help you understand some Medicare basics.<\/p>\n<\/div> Try ALEX Medicare!<\/span> Medicare is confusing and complicated. ALEX makes it simple! Try ALEX Medicare to get help with the whole Medicare process, whether you\u2019re ready to sign up now or just looking to understand your options for the future. ALEX Medicare can help you learn about your Medicare eligibility and enrollment dates, how Medicare works with your existing insurance, and your Medicare coverage options and costs.<\/p>\n Get started now<\/a>.<\/strong><\/p>\n<\/div> In order to apply for Medicare in a Special Enrollment Period, you must have or had group health plan coverage within the last 8 months through your or your spouse\u2019s current employment.<\/p>\n A CMS-L564 Form<\/a><\/strong> is used for proof of group health care coverage based on current employment. This information is needed to process your Medicare enrollment application.<\/p>\n Once Albertsons has completed Section B and returned the form to you, include the completed form with your Application for Enrollment in Medicare<\/strong> (CMS-40B). Send both together to your local Social Security office. Find your local office here: www.ssa.gov<\/a><\/strong>.<\/p>\n<\/div> Medicare is health insurance offered through the government for people age 65 or older. Some people may be eligible for Medicare earlier if they have a disability or certain medical condition.<\/p>\n<\/div><\/div><\/div> Medicare has several different parts.<\/p>\n Medicare Part A<\/strong> covers hospital care, including skilled nursing facilities, hospice, and home care.<\/p>\n Medicare Part B<\/strong> covers doctor care, including lab tests, specialists, and outpatient hospital care.<\/p>\n Medicare Part C, often known as Medicare Advantage<\/strong>, is another way to get Medicare Part A and Part B coverage. Medicare Advantage plans are run by approved private companies that must follow rules set by Medicare.<\/p>\n Medicare Part D<\/strong> covers prescription drugs.<\/p>\n Medicare Parts A, B, and D (or a Medicare Advantage plan and Part D) work together to provide you with the health coverage you need.<\/p>\n<\/div><\/div><\/div> Generally, you are eligible for Medicare when you turn 65, unless you have a disability or specific health condition. You can sign up for Medicare starting during your initial enrollment period, which is 7 months, starting 3 months before you turn 65.<\/p>\n If you elect to take Social Security benefits before you turn 65, you will automatically be enrolled in Medicare Part A and Part B when you turn 65.<\/p>\n<\/div><\/div><\/div> You may have heard that if you do not sign up for Medicare during your initial enrollment period, you will be subject to a late enrollment penalty fee. This is true, but only if you do not have other health coverage that is similar in value to Medicare, such as an employer-sponsored health plan<\/strong> like the health coverage available through Albertsons Companies. If you are over age 65 and still have coverage through Albertsons or a spouse\u2019s employer, you can delay your enrollment in Medicare until your other coverage ends.<\/p>\n<\/div><\/div><\/div> Visit Medicare.gov<\/a><\/strong> and answer a few questions to get started signing up for Medicare.<\/p>\n<\/div><\/div><\/div> The best place to start is www.medicare.gov<\/a><\/strong> or https:\/\/www.medicare.gov\/basics\/get-started-with-medicare<\/a><\/strong>. Another great option is to take advantage of ALEX Medicare<\/a><\/strong> \u2013 a resource provided to you by Albertsons that can walk you through the whole Medicare process.<\/p>\n<\/div><\/div><\/div><\/div><\/div> Leading Up to Retirement Timeline<\/span> Here\u2019s a sample timeline of the things you might want to do in the year leading up to your retirement.<\/p>\nAll About Medicare<\/h2>\n
\n<\/b><\/p>\nApplying for Medicare During a Special Enrollment Period<\/h2>\n
CMS-L564: Request for Employment Information<\/h2>\n
What to Do with the Form<\/h2>\n
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Next Steps<\/strong><\/h2>\n
Frequently Asked Questions<\/h2>\n<\/div>
<\/i><\/i><\/span>What is Medicare?<\/span><\/a><\/h4><\/div>
<\/i><\/i><\/span>How does Medicare work?<\/span><\/a><\/h4><\/div>
<\/i><\/i><\/span>When can I sign up for Medicare?<\/span><\/a><\/h4><\/div>
<\/i><\/i><\/span>Do I have to sign up for Medicare as soon as I\u2019m eligible?<\/span><\/a><\/h4><\/div>
<\/i><\/i><\/span>How do I sign up for Medicare?<\/span><\/a><\/h4><\/div>
<\/i><\/i><\/span>Where can I get more information?<\/span><\/a><\/h4><\/div>
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<\/span><\/div><\/span><\/div>
\n<\/b><\/p>\n\u00a0One year before retirement…
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Three months before retirement…<\/strong><\/h3>\n
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One month before retirement…<\/strong><\/h3>\n
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