Three or More Years Before Age 65
Understand your needs for how much money you will need in retirement, get your finances in order, and take advantage of benefits and resources to help you plan and save for the future.
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Assess your retirement readiness.
Make sure you are financially on track for retirement. If you aren’t already, start working with a financial advisor who can help you assess your retirement needs and your savings and investment strategy. Work with your financial planner or tax advisor to understand how taxes will impact your savings in retirement and set yourself up for a more tax-efficient outcome.
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Adjust your 401(k) savings and investments.
Be sure to adjust your DXC 401(k) savings and investments if you need to.
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Save for health care.
Save for future health care expenses with a Health Savings Account (HSA), which is available to eligible employees enrolled in a High-Deductible Health Plan (Bronze, Bronze Plus and Silver medical plans). You can start or change your contributions at any time. Just remember that all HSA contributions must stop six months before your Medicare enrollment begins.
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Protect yourself and your family financially.
Consider enrolling in these benefits if you haven’t already. They provide valuable financial protection for you and your family, and you have options for taking your coverage with you when you retire.
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Protect yourself and your family legally.
These resources can help to protect yourself and your family, financially and legally, as you prepare for retirement.
One to Two Years Before Age 65
Fine-tune your retirement strategy and learn about Medicare, so you can be ready to make important decisions about your benefits and when you want to retire.
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Check in on your financial plan.
Check in on your saving and investments to make sure you’re on track to meet your needs and goals — and make adjustments as needed.
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Get ready for Medicare.
Make sure you understand Medicare, how it works with your DXC coverage, and what you need to do to delay or enroll in Medicare coverage.
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Get ready for Social Security benefits.
Think about when you will start your Social Security retirement benefits (apply from age 62 to 70). Consult with your personal financial advisor for help with this decision. Keep in mind that if you are age 65 or older and receive Social Security benefits, you will be enrolled automatically in Part A — and you must stop your HSA contributions six months before that enrollment.
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Prepare yourself emotionally.
Even if you are ready financially, you might not feel emotionally ready for retirement. Reach out to friends who are already retired or connect with a counsellor if you need to talk about emotionally preparing for retirement.
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Protect yourself and your family financially.
Consider enrolling in these benefits if you haven’t already. They provide valuable financial protection for you and your family, and you have options for taking your coverage with you when you retire.
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Protect yourself and your family legally.
These resources can help to protect yourself and your family, financially and legally, as you prepare for retirement.
Six Months Before Age 65
Consider your options for enrolling in or delaying Medicare. If your Medicare enrollment will start when you turn age 65, now is the time to stop your HSA contributions (all contributions must stop six months before your Medicare enrollment starts).
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Get ready to delay or enroll in Medicare.
Make sure you understand what you need to do to delay or enroll in Medicare — and by when.
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Stop your HSA contributions now if needed.
If you are contributing to a Health Savings Account (HSA) and you are planning to enroll in Medicare — actively or because you are receiving Social Security or Railroad Retirement Board (RRB) benefits — you must stop your HSA contributions six months before Medicare enrollment. If your HSA contributions do not stop, you may incur tax penalties.
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Watch for lots of Medicare information.
You will receive emails and home mailers advertising Medicare plans, including plans available through your current DXC medical plan carrier.
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Protect yourself and your family financially.
Consider enrolling in these benefits if you haven’t already. They provide valuable financial protection for you and your family, and you have options for taking your coverage with you when you retire.
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Protect yourself and your family legally.
These resources can help to protect yourself and your family, financially and legally, as you prepare for retirement.
Three Months Before Age 65
If you want Medicare coverage, now is the time to enroll. If you’re still working, you can delay coverage unless you are receiving Social Security or Railroad Retirement Board (RRB) benefits as noted below.
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Enroll if you want Medicare coverage.
If you are not already receiving Social Security benefits or RRB benefits and you want Medicare coverage to begin on your 65th birthday, now is the time to enroll. Your Initial Enrollment Period for Medicare starts three months before your 65th birthday and ends three months after the month you turn 65.
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Are you receiving Social Security or RRB benefits?
If you’re already receiving Social Security or RRB benefits, you should automatically receive your Medicare card in the mail from the Social Security Administration about three months before you turn age 65.
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Protect yourself and your family financially.
Consider enrolling in these benefits if you haven’t already. They provide valuable financial protection for you and your family, and you have options for taking your coverage with you when you retire.
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Protect yourself and your family legally.
These resources can help to protect yourself and your family, financially and legally, as you prepare for retirement.
When You Turn Age 65
If you don’t already have Medicare coverage, you can enroll within three months after the month you turn age 65. Or you can choose to delay Medicare in most cases. Remember that HSA contributions must stop six months before Medicare enrollment begins.
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Enroll if you want Medicare coverage.
If you want to enroll for Medicare coverage, you must do so within three months after the month you turn 65.
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Delay Medicare if you don’t want coverage.
If you don’t want Medicare coverage and you are still actively working and have DXC medical coverage, you don’t need to do anything. You will be able to enroll in Medicare when you DXC medical coverage ends. You will not incur any late enrollment penalty if you sign up for Medicare coverage at a later time.
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If you are receiving Social Security or RRB benefits.
If you are receiving Social Security or RRB (Railroad Retirement Board) benefits, you should have automatically received your Medicare card in the mail from the Social Security Administration by now.
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Protect yourself and your family financially.
If you are still actively working and you don’t already have these benefits, consider enrolling in them now. They provide valuable financial protection for you and your family, and you have options for taking your coverage with you when you retire.
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Protect yourself and your family legally.
These resources can help to protect yourself and your family, financially and legally, as you prepare for retirement.
When You Retire
Enroll in Medicare if you haven’t already. If you don’t enroll within eight months of the end of your DXC coverage, you may have to pay late enrollment penalties. Also, make sure you understand what happens to your DXC benefits when you transition to retirement.
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Enroll in Medicare.
You can enroll in Medicare coverage within eight months of the date your DXC medical coverage ends. Make sure you stop your HSA contributions six months before Medicare enrollment starts.
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Avoid late enrollment fees.
If you don’t sign up for Medicare within eight months, you may have to pay an ongoing late enrollment penalty.
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Understand what happens to your DXC benefits.
Make sure you understand what happens to your DXC benefits when you retire, including options for COBRA coverage and your DXC 401(k) account.