I’m 63 and enrolled in a retiree health plan from my former employer. Can I look for better coverage and subsidies in the Marketplace?

Yes, as long as you do so during the Open Enrollment period.

If you are under age 65 and enrolled in employer-provided retiree health coverage, and if your income is at least 100% of the Federal Poverty Level ($15,060 for a single adult or $20,440 for a family of two) in 2025, you may also qualify for premium tax credits. However, there’s one exception. Some employers may provide retired employees with access to a health reimbursement arrangement (or HRA) that the retiree may use to reimburse medical expenses, including an individual plan through a health insurance Marketplace. A retiree who signs up for an HRA offered by a former employer is considered to have minimum essential coverage from an employer and would therefore not be eligible to claim a premium tax credit if he or she enrolled in a Marketplace plan.

Remember that outside of Open Enrollment, you cannot voluntarily drop your retiree coverage and replace it with Marketplace coverage.