Q. I am a reinstated federal employee with the Bureau of Prisons who is 59 years old and has 15 years of service time. I want to retire under the minimum retirement age and understand there is a five percent penalty for every year under the age of 62. But, am I able to keep my federal health insurance until I reach age 65?
A. If you were enrolled in the FEHB program when you left, re-enrolled when you returned, and have at least five consecutive years of coverage under the FEHB program, you can carry it into retirement. If you retire on an immediate annuity, your coverage will continue for the rest of your life. If you retire and postpone the receipt of your annuity to a later date to avoid some or all of the age penalty, your coverage will stop after 31-days of free coverage; however you will be able to re-enroll when your annuity begins.
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