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Retiree Benefits for Exempt Staff December 4, 2013
Human ResourcesBENEFITS
Primary Retirement Plan & Source of Retirement Benefits
Exempt Staff
403(b) PlanTIAA-CREF & Fidelity
Investments
Not certain of your primary retirement plan?
Check your pay advice
Retiree Website
4http://www.udel.edu/0054
Criteria for UD Retirement
Age/Service
•Any age and 30 years
•Age 55 and 20 years
•Age 60 and 15 years
•Age 65 and 10 years
Retiree Benefits
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Health Insurance Death Benefit Blood Bank
100% Retiree Paid Dental Program Vision Plan Life Insurance
University Retiree Benefits
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Educational Benefits
Tuition Remission
Course Fee Waiver
Tuition Exchange
University Retiree Services and Privileges
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University ID card Library Privileges Use of Athletic Facilities Employee Rates for Cultural and Athletic Events University Transit Services Wellness Dollars Retirement gift Computer (email) Access
University of Delaware Campus Directory Free Central-Lot Parking Permit
Retiree Health Plan Rates**
Total Monthly
Rate 100% State
ShareUD Retiree
PaysHighmark (BCBS) - First State Basic Retiree $547.38 $525.48 $21.90 Retiree & Spouse $1,132.56 $1,087.26 $45.30 Retiree & Child(ren) $832.10 $798.82 $33.28 Family $1,415.74 $1,359.12 $56.62 Aetna - CDH Gold Retiree $566.54 $538.22 $28.32 Retiree & Spouse $1,174.70 $1,115.98 $58.72 Retiree & Child(ren) $865.60 $822.32 $43.28 Family $1,492.34 $1,417.72 $74.62 Highmark - CDH Gold Retiree $566.54 $538.22 $28.32 Retiree & Spouse $1,174.70 $1,115.98 $58.72 Retiree & Child(ren) $865.60 $822.32 $43.28 Family $1,492.34 $1,417.72 $74.62 Aetna - HMO Retiree $571.48 $534.78 $37.14 Retiree & Spouse $1,204.88 $1,130.14 $78.32 Retiree & Child(ren) $874.22 $818.22 $56.82 Family $1,503.44 $1,405.72 $97.72 Highmark - BlueCARE® HMORetiree $571.94 $534.78 $37.16 Retiree & Spouse $1,208.70 $1,130.14 $78.56 Retiree & Child(ren) $875.10 $818.22 $56.88 Family $1,508.04 $1,410.02 $98.02 Highmark - Comprehensive PPORetiree $624.94 $542.14 $82.80 Retiree & Spouse $1,296.80 $1,124.98 $171.82 Retiree & Child(ren) $963.12 $835.52 $127.60 Family $1,621.18 $1,406.38 $214.80
Individual Medicare Supplements (Retiree and/or Spouse, when Medicare eligible) for UD Exempt Staff who retired AFTER July 1, 2012
Total Monthly
Rate
100% State Share
Pensioner Pays
(Per Person)
Special Medicfill With Prescription Coverage $361.78 $343.69 $18.09
Special Medicfill WITHOUT Prescription Coverage * $205.06 $194.81 $10.25
* Medicare Supplement plans WITHOUT prescription coverage are provided for Medicare participants enrolled in a separate Medicare Part D Plan.
** 7/1/2013 rates
**Medicare rates 1/1/2014
Retiree Health Insurance
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Under Age 65
Same plans, costs and coverage as employees
(Aetna & Highmark BCBS)
Age 65 or Over
Highmark BCBS Special Medicfill Plan that supplements Medicare
UD pays 95% of the plan premium for all UD retirees
Spousal Coordination of Benefits (SCOB) Policy
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• Spouses who are retired (or will retire) from an employer who offers retiree health insurance coverage are now required to enroll in their employer’s retiree health plan, if:o Employer offers retiree health insurance coverage, o Spouse is eligible for this coverage, and o Spouse does not have to pay more than 50% of the total monthly premium.o Spouse is required to enroll in that employer’s retiree health plan at the time of
his/her retirement, or (if already retired) the next opportunity to enroll.• Compliance will be confirmed during the Flexible Benefits Open Enrollment period
each year.o Employees and retirees who include their spouse on their UD/State health plan
will be required to complete a Spousal Coordination of Benefits Form.
Now Includes Retired Spouses
BCBSDE Special Medicfill
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• Medicare primary / Special Medicfill Plan secondary
• UD pays 95% of the plan cost for Retiree and Spouse
• Fills in, Supplements, and Adds Benefits to Medicare Coverage
• Must be Enrolled in Parts A and B of Medicare
Social Security & Medicare
Websites: http://www.ssa.gov/ http://www.medicare.gov/
Medicare A: Hospital, skilled nursing, nursing home care (as long as custodial care isn't the only care you need), hospice, home health services
Medicare B: Medically necessary and preventive services
Medicare D: Prescription drug
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Social Security & Medicare (cont’d)
If you, or a covered dependent, will be Medicare eligible (typically age 65 or older) at retirement, contact HR-Benefits three months prior to your retirement date (date when you are no longer on the University’s payroll).
HR-Benefits will provide a Social Security form (verification of your health plan coverage) that you will need to enroll in Medicare without any “late enrollment” penalty.
When you are retired, you must enroll in Medicare (Part A and Part B) as soon as you are eligible, if you choose to have health coverage through the University. This requirement also applies to any covered dependent, as soon as they become Medicare-eligible, if you are retired.
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Social Security & Medicare (cont’d)
The retiree prescription drug program (for Special Medicfill participants) is now a group Medicare D plan. You are permitted to be enrolled in only one Medicare D Plan.
Enrollment plan year for (non-Medicare) health, prescription drug, vision and dental insurance is July 1 to June 30.
Enrollment plan year for Special Medicfill is January 1 to December 31.
For 2013, Medicare Part B premiums (which you pay to Social Security) start at $104.90 per person per month, but your income may impact the premium that you will pay for Medicare. Please check with Medicare for details.
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Retiree Dental Insurance / Premiums*
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Dominion - Dental HMOTotal Monthly
RateUD Pays
Retiree Pays
Retiree $22.68 $0 $22.68
Retiree & Spouse $42.14 $0 $42.14
Retiree & Child(ren) $45.42 $0 $45.42
Family $61.66 $0 $61.66
Delta Dental - PPO Plus Premier
Retiree $31.62 $0 $31.62
Retiree & Spouse $64.54 $0 $64.54
Retiree & Child(ren) $63.34 $0 $63.34
Family $105.70 $0 $105.70
* Rates as of 7/1/2013
Retiree pays full premiums
Dominion Dental
Delta Dental
University Retiree Vision Plan* (NVA)
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• National provider network of ophthalmologists, optometrists, opticians and optical chain locations
• Coverage for eye examinations, frames/lenses or contact lenses and other vision related services
• In-network discounts on additional services
Services Frequency
Comprehensive Exam ($15 co-pay)
12 Months
Lenses 12 Months
Frames 24 Months
Contact Lenses 12 Months
Monthly Premium
Retiree Only $4.42 Retiree and Spouse
$9.50Retiree and Child(ren) $7.16
Family $13.06
* Rates as of 7/1/2013
RETIREE GROUP LIFE INSURANCE PLAN MetLife University employees who meet University retirement eligibility rules can continue (at the time of retirement) their group Basic Life insurance at their own expense. Retirees pay all premiums for this coverage directly to MetLife. Their toll-free number is 866-492-6983. MetLife will automatically continue the amount of Basic Life insurance coverage you have in effect just before you retire and bill you directly. Retirees who wish to reduce or cancel this coverage will need to do so in writing.
Reduction Schedule for 5-Year Renewable Term Insurance Age % Basic Life at Retirement Maximum Amount of Basic
Life Insurance
Under 65 Up to 100% Lesser of the amt at retirement or $1,000,000
65-69 50% $150,000
70-74 25%
75-79 10%
80-84 $10,000
85 & over $5,000
NOTE: The minimum amount of Basic Life Insurance for a retiree under age 80 is $10,000
Note: As the retiree’s age increases after retirement, this insurance reduces according to the above schedule on July 1st following the date you turn each age. Likewise, premiums would change in accordance with the Rate Schedule shown below. Anyone who discontinues premium payments or is over thirty days delinquent will be dropped from the program and will not be eligible to re-enroll.
Ready to retire?
Exempt Staff: Contact Human Resources three months prior to your final day of UD employment.
Questions about retirement?See HR Benefits website for up to date information,http://www.udel.edu/Benefits/retiree.html
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Contact Information
University of Delaware: E-Mail: [email protected] Phone: 831-2171
Fidelity: 800-343-0860 – Counseling Center 800-642-7131 – One-on-One Appointment Web access: https://netbenefits.fidelity.com Online Enrollment: https://nbacctopen.fidelity.com
TIAA-CREF: 800-842-2776 – Counseling Center 800-732-8353– One-on-One Appointment Web access: http://www.tiaa-cref.org/ Online Enrollment: http://www.tiaa-cref.org/udel