Retiree Health Insurance

Faculty and staff who retire from Hope College with at least 10 years of continuous service at the time of their retirement are eligible to participate in Hope College’s Retiree Health Insurance plan.

Medicare Plus Blue Group PPO Benefits At A Glance

Retiree Health Insurance Policy

Revised January 1, 2020

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

early retirement

Any faculty or staff who is age 60 or greater, with at least 10 years of service, who decide to retire prior to the normal Medicare eligible age of 65, are eligible to continue their current BCBSM Blue or Orange PPO Health Plan coverage. Their premium cost share is based on the following:

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 current premiums.

If the retiree remains continuously on the Hope College Health Insurance Plan, until they reach the age of eligibility for Medicare (first of month in which they turn age 65), they will become eligible for the BCBS Medicare Plus PPO Plan as outlined below. If an early retiree’s spouse is Medicare eligible, or becomes Medicare eligible prior to the retiree, the spouse will be enrolled in the BCBS Medicare Plus PPO Plan upon the date of the faculty/staff retirement OR the first of the month in which the spouse turns age 65.

retirement at medicare eligible age (65+)

Faculty and staff age 65 or greater, with at least 10 years of service, or faculty and staff that have retired under Early Retirement as outlined above and reach the age of 65, are eligible for the BCBS Medicare Plus PPO Plan, and will share the premium cost based on the following:

Those benefit eligible faculty/staff that retired before 6-1-95, will be charged 40% of the premium for employee plus 40% of the premium for spouse/dependent*.
Those benefit eligible faculty/staff with 10 or more years of Hope College service as of 6-1-95 and retired previous to 7-1-96, will be charged 40% of the premium for employee plus 40% of the premium for spouse/dependent*.
Faculty/staff with 10 or more years of Hope College service as of 6-1-95 and retiring after 7-1-96, will be charged 40% of the premium for employee plus 70% of the premium for spouse/dependent*.
Those benefit eligible faculty/staff employed at Hope College with less than 10 years of service as of 6-1-95, and retiring after 7-1-96, will be charged 40% of the premium for employee plus 100% of the premium for spouse/dependent*.
All benefit eligible faculty/staff hired after 6-1-95, and with 10 years of service, shall be eligible to participate in the Medicare Plan by paying 100% of the retiree and spouse/dependent* premiums.

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

MEDICARE COORDINATION

All participants in the BCBS Medicare Plus PPO Plan are required to enroll for Medicare’s Part A and Part B options (Part D is NOT required) and pay the additional required premiums to Medicare directly.
Medicare does not permit coordination with Personal Injury Protection (PIP) under an automobile insurance policy so all participants are encouraged to confirm with their personal automobile insurance carriers that auto insurance will pay primary costs if injured in an auto accident.

premium rates and payments

The 2020 Blue Cross/Blue Shield Medicare Plus PPO Plan’s premium rate is $194.88 per month, per single Medicare subscriber.
The 2020 BCBSM PPO Blue Plan’s pre-medicare eligible premium rate is $484.59 per month, for spouse, and/or $315.17 per month for eligible dependents/children.

All premium rates are subject to annual increases at the beginning of each calendar year. All retirees will be billed monthly for the applicable percentage of the premium for their own (and spouse/dependents enrolled, if applicable) coverage. Payment is due on the 23^rd of each month for that month’s coverage (due July 23 for July premium). EFT withdrawals from saving/checking accounts is available upon request. Hope College will have the right to cancel insurance coverage if payment is more than 60 days’ delinquent.

Plan Revision Option

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