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2013 Benefits for Retirees

2013 Benefits for Retirees. Health Insurance Dental Insurance Vision Insurance Life Insurance Health FSA Long Term Care Questions/Contact Info. Health Insurance. Retirees will be eligible to continue health insurance until they become Medicare eligible.

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2013 Benefits for Retirees

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  1. 2013 Benefits for Retirees Health Insurance Dental Insurance Vision Insurance Life Insurance Health FSA Long Term Care Questions/Contact Info

  2. Health Insurance • Retirees will be eligible to continue health insurance until they become Medicare eligible. • Retirees will receive COBRA/Retiree notice from CieloStar. HP Distinctions III Plan I HP Distinctions III Plan II (Single) $628.32 (Single) $581.50 (Family) $1621.80 (Family) $1500.95 **These rates are for 2013 only and may differ according to your union contract language. 1

  3. Dental Insurance • Retirees will be eligible to continue dental insurance for life – as long as premiums are paid on time. • Retirees will receive COBRA/Retiree notice from CieloStar. • Dental Rates: (Single) $24.09 (2013) (Family) $94.57 (2013) **These rates are for 2013 only and may differ according to your union contract language. 2

  4. Vision Insurance • Retirees will be eligible to continue Vision insurance until Medicare eligible– as long as premiums are paid on time. • Retirees will receive COBRA/Retiree notice from CieloStar. • Vision Rates: (Single Standard) $5.92 (2013) (Single Premier) $8.36 (2013) (Family Standard) $16.32 (2013) (Family Premier) $22.95 (2013) Rates are for 2013 only. 3

  5. Retirees and Spouse/Domestic Partner who are Age 65 and Older or Medicare Eligible • Retirees and their spouse/domestic partner will be eligible to participate in a District sponsored plan. • Retirees and their spouse/domestic partner who are 65 and older will have the option of two district sponsored Medicare supplemental plans. • Retirees must have Medicare A and B. Medica Prime SolutionsUCare $242.00 $246.00/$144.00 952-992-2330 612-676-6900 Rates are for 2013 only. 4

  6. Retirees and Spouse/Domestic Partner Age 65 and Older or Medicare Eligible • Retirees and their spouse/domestic partner age 65 and older also have the option of participating in the Public Employees Insurance Plan (PEIP). • PEIP is not a District sponsored plan. • Anyone who chooses to participate in PEIP or any other non-District sponsored plan will not be able to participate in a district sponsored plan in the future. • PEIP - Call Medica at 952.992.2330 for information 5

  7. Retirees and Spouse/Domestic Partner Age 65 and Older or Medicare Eligible Other Supplemental Plans • Medica – 952.992.2330 • Health Partners – 952.883.5000 • Blue Cross/Blue Shield – 651.662.5020 • AARP – 888.687.2277 6

  8. Health, Dental, Vision Insurance and Flexible Spending Plans • Health, Dental, Vision Insurance and Flexible Spending Plan End Dates • If you are retiring before the last day of school: • Coverage ends on last day of month retired • If you are retiring at end of school year: • Coverage ends on August 31 7

  9. Changes • Single and Family Coverage Changes • Changes Allowed during first 18 months • Result of qualifying event or open enrollment • Single to Family • Family to Single • Changes Allowed after first 18 months • Family to Single 8

  10. Life Insurance • Basic Life Insurance continuation cost depends on your coverage amount per your union contract. • Supplemental Life Insurance continuation cost depends on coverage amount and age. • Basic and Supplemental Lifecan be continued for up to 18 months under COBRA. • At the end of 18 months, retirees can convert to an individual policy directly through the life insurance carrier. • You will receive notification and conversion kit from CieloStar. 9

  11. Health Flexible Spending Account • If you have a health Flexible Spending Account (FSA) and would like to continue the benefit for the remainder of the 2013 calendar year, you may do so through COBRA on an after-tax basis. • Claims have to be submitted to CieloStar by 3/31/2014 for any expenses incurred prior to your benefits termination date. 10

  12. Long Term Care Insurance • If you currently have Long Term Care Insurance, you will have the option to switch over to direct billing with the insurance company. • John Hancock Long Term Care Insurance 1.866.735.6268 11

  13. Sick Leave and Vacation Severance • This benefit differs for each union group. Please refer to your union contract for more information on Sick Leave and Vacation severance. 12

  14. Questions??? Benefits Department – 612 668-0560 Or email benefits@mpls.k12.mn.us 13

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