Retiree Insurance

 
Retirees are eligible to continue their participation in the State Group Health Insurance Plan. They must convert their active employee coverage to retiree coverage thirty-one days prior to their retirement effective date by contacting their local Human Resource Office. Upon retirement, premiums will no longer be deducted from pay checks, and so arrangements must be made so the retiree will either pay premiums directly to the People First Service Center or have premiums deducted from their retirement benefits paid by the Division of Retirement.

For health insurance, the University does not pay a portion of the premiums, so retirees are responsible for the full cost of coverage. FRS Pension and Investment Plan participants are eligible to receive a monthly health insurance subsidy. The value of the monthly subsidy is $5 for each year of credible service with a minimum of $50 and up to a maximum of $150.

Retirees are also eligible to continue $10,000 of State group term life insurance coverage for $4.20 per month.

Supplemental coverages, such as dental, vision, cancer, etc., can be continued by contacting the provider company directly for conversion policies.
 

Retiree Benefits Guide