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  Introduction to the Handbook
  Message from the President
  About Your College
  Ivy Tech Foundation
  Regional Administrative Centers
  Personnel Policies and Procedures
  Time Off
  Health and Dental Care Programs
  Health Care Plans
  Dental Care Plans
  Eligibility and Expense
  When Coverage Ends
  COBRA
  Health Insurance Portability and Accountability Act of 1996 (HIPAA)
  Health and Dental Benefits after Retirement
  Option 1- Regular Retiree Program
  Option 2- The 75-Plan Retiree Program
  Other Core Benefit Programs
  Voluntary Benefits
  Retirement Programs
   
  Updates:

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Full-Time Employee Handbook
Health and Dental Care Programs
   

Health and Dental Benefits after Retirement

When you are planning your retirement from the College, you may be eligible to continue your participation in the College's health and dental care plans at the group premium rates. Depending on your age and length of full-time, benefits-eligible service with the College, you may qualify for one of the following two options:

Option 1 - Regular Retiree Program

Full-time, benefits-eligible employees who are retiring can elect to remain in the College group health and dental programs, paying 100% of the full premium expense, if you meet the following requirements:

—If you retire between the ages of 55 and 65, you must have ten years of continuous full-time, benefits-eligible service with the College to continue participating in the College’s health and dental programs.

—If you retire at age 65 or older, you must have five years of continuous full-time, benefits-eligible service with the College to continue participating in the College’s health and dental programs.

You will be required to pay the full health and/or dental premium expenses for you and any eligible family members you elect to cover. The College will bill you quarterly for this coverage. Since you will be participating in a group plan, the extent of your coverage should be far greater than with most individual health and dental plans. If you choose to terminate your coverage through the Ivy Tech retiree program, coverage for any eligible dependents you cover will terminate at the same time. Dependents may not retain coverage without the retiree being covered, with the exception of a surviving spouse of a deceased retiree.

At age 65, in addition to remaining eligible to continue coverage through the group health plan, you will be eligible for the Ivy Tech Group Medicare Supplement Plan that coordinates health benefit coverage with Medicare. Since Medicare will become your primary health insurance and the College-sponsored plan your secondary health coverage, your premium costs may be lower. Your dental plan benefits will remain the same for as long as you continue participation since there is no coordination with Medicare for dental benefits.

Option 2 - The 75-Plan

Available to full-time, benefits-eligible employees continuously employed in a full-time, benefits-eligible position on or before December 31, 2008.

Full-time, benefits-eligible employees, continuously employed in a full-time, benefits-eligible position on or before December 31, 2008, can elect to remain in the College group health and dental programs and pay the same portion of the full premium expense that active employees pay until you become Medicare-eligible at age 65, provided you meet the following requirements:

—You must retire between the ages of 55 and 65, and your combined age plus years of continuous full-time, benefits-eligible service must equal at least 75.

The College pays the majority of the premium expense for health and dental care coverage for you and any eligible dependents you elect to enroll.  You pay the remaining portion of the premium expense. The College will bill you quarterly at the group premium rate for this coverage. Since you will be participating in a group plan, the extent of your coverage should be far greater than with most individual health and dental programs. If you choose to terminate your coverage through the Ivy Tech retiree program, coverage for any eligible dependents you cover will terminate at the same time. Dependents may not retain coverage without the retiree being covered, with the exception of a surviving spouse of a deceased retiree.

At age 65, in addition to remaining eligible to continue coverage through the group health plan, you will be eligible for the Ivy Tech Group Medicare Supplement Plan that coordinates health benefit coverage with Medicare.  Since Medicare will become your primary health insurance and the College-sponsored plan your secondary health coverage, the total premium expense may be lower than the full premium for active employees. Your dental plan benefits will remain the same for as long as you continue participation since there is no coordination with Medicare for dental benefits. Your dental plan option will follow the same billing procedures as your health plan. The premium expense for this coverage will be payable in full by you. In other words, at age 65, 100% of the premium expense for health and dental benefit plan coverage will be payable by you.

For complete details on the College’s benefit plans for retirees, contact your regional Human Resources Administrator.

Important Note:
If you elect to terminate your health and/or dental coverage through the Ivy Tech Retiree program, you cannot be reinstated later. Plans can be selected independent of one another.

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