As a ConocoPhillips employee, you and your dependents have several options, ranging from deferring Medicare to enrolling in Medicare as soon as you or your dependent are approaching Medicare age. Read each option below for more information.

Note: If you are a retiree and are already age 65 and over or pre-65 Medicare eligible, visit Age 65 and Over Retiree Medical Benefits or Pre-Age 65 Retiree Medical Benefits  for additional information.

• Medical Option 1 – Defer Medicare

  You and/or your eligible dependent can defer Medicare enrollment and continue any option of medical coverage under the ConocoPhillips Medical Plan until the date your employment ends or your dependent no longer qualifies as an eligible dependent.

  Note: As a current employee, you and your eligible dependents can remain on your employee medical coverage through the last day of the month in which you leave the company. If you remain enrolled in your employee medical coverage, under current law, you and/or your Medicare eligible dependent will become eligible for a special enrollment period (SEP). The SEP allows you to enroll in Medicare once you retire without a late enrollment penalty if certain deadlines are met.

• Medical Option 2 – Elect to enroll in Medicare and continue ConocoPhillips Medical Plan coverage

  You and/or your eligible dependent can continue your medical coverage under the ConocoPhillips Medical Plan with the Plan as the primary coverage and Medicare as the secondary coverage — until the date your employment ends or your dependent no longer qualifies as an eligible dependent.

  Note: If you enroll in Medicare, you must notify the Benefits Center within 30 calendar days of enrollment. See Coordination of Benefits with Medicare for additional information in the Employee Benefits Handbook.

• Medical Option 3 – Elect Medicare as your primary coverage

  You and/or your eligible dependent can elect Medicare as the primary coverage and cancel coverage under the ConocoPhillips Medical Plan. If you are the eligible person for and elect Medicare as primary coverage, coverage for your eligible dependents will also end. If the person eligible for Medicare enrolls in Medicare Part D, his or her coverage under the ConocoPhillips Medical Plan will be cancelled.

  Note: If you enroll in Medicare, you must notify the Benefits Center within 30 calendar days of enrollment. See Coordination of Benefits with Medicare for additional information in the Employee Benefits Handbook.

It’s important to consider your HSA and any changes that may occur if you choose to defer or enroll in Medicare. You may want to discuss this further with your financial advisor to understand how Medicare may affect your HSA.

• If you choose to delay Medicare  

  If you are retiring after age 65 and delaying Medicare enrollment (including Part A, B or D), you can generally remain on your or your spouse’s employer-sponsored plan and continue contributing to an HSA.

• If you choose to enroll in Medicare or begin Social Security benefits

  If you choose to enroll in Medicare (including Part A, B or D), or commence Social Security Retirement benefits, you are no longer eligible to contribute to an HSA.  You may want to stop contributions to your HSA up to six months prior to the date you enroll, as the effective date of such coverage may be retroactive, which would make you ineligible for contributions during that period. As mentioned, please contact a financial advisor to understand important tax and time considerations. You can use HSA funds saved prior to your eligibility after you enroll in Medicare to pay for qualified expenses.

As a current employee, you may be enrolled in a supplemental life insurance option. If you retire at age 65 or over, you cannot continue to be enrolled in your life insurance through ConocoPhillips. Instead, you may be eligible to continue coverage through portability or conversion to an individual policy with The Hartford after your employment end date.

Note: The option of continuation of coverage is never available beyond 91 days from your coverage termination date when your employment ends.

If you are age 65 on your LTD start date (first day of the elimination period), the maximum LTD benefit duration is 12 months. For more information, visit Long-Term Disability.

If you’re considering retirement, visit I’m Retiring and I’m Leaving the Company for pertinent information.