 I retired at 00. At that time, I received a monthly stipend to use for medical expenses. Shortly after, it was changed to a one-time lump sum benefit to be used only for premiums. In my case, the lump sum was $00,000. Once it's spent, it's gone. The benefit drops each year you are closer to your full retirement age. Someone at 00 receives a considerably larger amount, something like $00K. The purpose is to encourage your retirement if premium cost is stopping you. 