What is a retiree health exchange?

A retiree health exchange is a private health insurance marketplace designed only for retired people. The marketplaces offer a variety of plan options with varying premium costs under Medicare.

Retiree health exchanges offer an alternative option for employers who provide retirees with group health insurance benefits. The options usually include Medicare Advantage plans, Medicare supplement plans and Part D coverage for prescription drugs, with costs subsidized by the former employer. Participants have many more choices than they do on employer group plans, allowing a balance of price and coverage. Retirees get help choosing the best option within the exchange from professionals who assess needs.