Christopher McMahon is thinking about going back to work.

The 65-year-old retired from Boeing in 2022 after over three decades in the company’s Seattle-area offices. But the spiking cost of health insurance has him considering whether to get a part-time job.

McMahon, who lives in Des Moines, is enrolled in an Aetna Medicare Advantage plan sponsored by Boeing for its retirees. He and his wife currently pay premiums totaling around $120 per month. Next year, those premiums will jump to over $630 per month for the couple.

That’s an increase of more than 400%.

“We’re shocked,” he said. “This is just so much more than we thought it would be. This is just awful.”

When people turn 65, they become eligible for Medicare, the public insurance program for older adults.…