Retiree Health Insurance

The participant is required to pay a share of the premium cost based on eligibility guidelines below.

Retiree Health Insurance Policy

Revised January 1, 2019

Eligibility

Effective January 1, 2019, retirees will pay a portion of their Retiree Health Insurance premium, per the following:

1. Those benefit-eligible faculty/staff who retired before June 1, 1995, will be charged 35% of the premium for employee plus 35% of the premium for spouse/dependent. Spouse/dependent coverage is voluntary.
2. Those benefit-eligible faculty/staff with 10 or more years of Hope College service as of June 1, 1995, will be charged 35% of the premium for employee plus 35% of the premium for spouse/dependent. Faculty/staff retiring after July 1, 1996, will be charged 35% of the premium for employee plus 65% of the premium for spouse/dependent. Spouse/dependent coverage is voluntary.
3. Those benefit-eligible faculty/staff employed at Hope College with less than 10 years of service as of June 1, 1995, will be charged 35% of the premium for employee plus 100% of the premium for spouse/dependent. Spouse/dependent coverage is voluntary.
4. All benefit-eligible faculty/staff hired after June 1, 1995 shall be eligible to participate in the Medicare Advantage Plan by paying 100% of the retiree/spouse/dependent premiums. Spouse/dependent coverage is voluntary.

Spouse/Dependent Coverage

Spouses/dependents of retired faculty and staff are eligible to participate under the following terms:

1. Required premiums are paid.
2. Spouses and dependents of retirees who are not otherwise eligible for Medicare must remain on the health insurance plan and the premium calculation will be based upon the “pre-medicare-eligible” rates until they become “medicare-eligible” at which time rates will be adjusted accordingly.
3. Retirees who remarry may add their new spouse and/or dependent children, but 100% of the premiums must be paid by the retiree.
4. Upon the death of the faculty/staff retiree, only those dependents that are insured may continue coverage.

Medicare Coordination

All participants in the health plan are required to enroll for Medicare’s Part A and Part B options (Part D is NOT required) and pay the required premiums. Medicare does not permit coordination with Personal Injury Protection (PIP) under an automobile insurance policy … all participants should check with personal automobile insurance carriers to confirm that auto insurance will pay primary costs if injured in an auto accident.

Premium Rates and Payments

All premium rates are subject to annual increases at the beginning of each year. The current Retiree Health Insurance Plan is with Blue Cross/Blue Shield Medicare Advantage 2019 PPO. The 2019 premium rate is $218.70 per month, per single Medicare subscriber. Retirees with spouses who desire coverage and who are not yet eligible for Medicare (ie. pre-’65) will be enrolled in the BCBSM PPO Blue Plan currently available for active employees until the 1st of the month in which they turn 65 — at which time they will enroll in the Medicare Advantage plan. The 2019 premium for this BCBSM PPO coverage is $484.59 per month. Additionally, eligible children of retirees will also be covered in the BCBSM PPO plan at a 2019 premium rate of $315.17 per month. All retirees will be billed monthly for the applicable percentage of the premium for their own (and spouse/dependents enrolled, if applicable) coverage as indicated in the “eligibility” table listed above. Hope College will have the right to cancel insurance coverage if payment is more than 60 days delinquent.

Early Retirement

Faculty and staff with at least 10 years of service who decide to retire prior to the normal Medicare-eligible age but no earlier than age 60 must remain continuously on a Hope College Health Insurance Plan. Any faculty or staff member who retires under a formal, early retirement plan approved by Hope College shall have premium payments determined by that agreement. All others must pay 100% of the premiums until they reach the age of eligibility for Medicare. At that time, they will become eligible for Hope College’s Retiree Health Insurance Plan as outlined above.

Plan Revision Option

The College reserves the right to modify the terms, conditions and coverage in the Retiree Health Plans.