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Benefits: Insurance: Retiree Insurance Benefits

Medicare Supplements
Retiree Life Insurance
Retiree Medical Insurance
Retiree Monthly Medical Premiums
Sick Leave Entitlement

Retiree Medical Insurance

Eligibility

To be eligible for retiree group medical coverage, you must be receiving monthly retirement benefits from a State Retirement System.  Your unreduced Regular Retirement Allowance must equal or exceed the single retiree premium rate in effect on the date your coverage becomes effective, or you must have 20,800 or more hours of credited state service (approximately 10 or more years).  Retired employees and their dependents have Blue Cross of Idaho medical coverage without vision or dental coverage.

Enrollment

Retirees have 60 days from the date they first became eligible to submit an application for coverage. If the application is not submitted within 60 days, the retiree will be considered a Late Enrollee. The effective date would then be the first of the month following the application submission. Enrollment forms and the Retirees Group Insurance Handbook can be located on the State of Idaho Office of Group Insurance web site.

Monthly Medical Premiums

From July 1, 2009 to June 30, 2010, the monthly premium rates for the Retiree Traditional, PPO, and High Deductible medical plans will be as follows. Remember, those aged 65 or older will no longer be eligible for coverage on the plans effective January 1, 2010:

PPO Plan	Retiree	Retiree & Spouse	Retiree & Child(ren)	Family
No Medicare	$562	$997	$722	$1,157
One on Medicare	$231	$793	$391	$953
Two on Medicare	N/A	$448	N/A	$608
Traditional Plan	Retiree	Retiree & Spouse	Retiree & Child(ren)	Family
No Medicare	$573	$1,020	$746	$1,193
One on Medicare	$231	$804	$404	$977
Two on Medicare	N/A	$448	N/A	$621
High Deductible Plan	Retiree Only	Retiree & Spouse	Retiree & Child (ren)	Family
No Medicare	$456	$812	$595	$951
One on Medicare	$188	$644	$327	$783
Two on Medicare	N/A	$364	N/A	$503

 

If you are with PERSI, after all sick leave entitlement has been exhausted, premiums will be paid from your retirement allowance.  If you are with the ORP, (VALIC or TIAA-CREF), you may self pay your premiums after your entitlement is exhausted.

Medicare Supplements

Recent agreements with Blue Cross of Idaho, Regence BlueShield of Idaho, and the American Association of Retired Persons, (AARP) Health Care Options program, have made it possible for the State Office of Group Insurance to offer Medicare eligible State retirees and their dependents access to Medicare Supplement Insurance plans, through their retiree sick leave entitlement. The supplement plans could be in addition to, or in lieu of enrollment in one of the State's retiree medical plans. Depending on your healthcare needs, these plans could be less expensive than either of the State's retiree medical plans.

For further information regarding Medicare Supplement options and eligibilty requirements, click here.

Sick Leave Entitlement

Upon retirement from the state, in accordance with Idaho Code 67-5339, an employee may convert a portion of his or her unused sick leave into a cash equivalent to pay for retiree medical insurance premiums after retirement.  The formula used to determine the amount of Sick Leave Entitlement is:

½ of unused sick leave hours multiplied by the hourly wage at time of retirement

After sick leave has been divided in half, state employees have a maximum allowable unused sick leave depending on state service hours as follows:

Credited Hours of Service	Estimated Years of Service	Maximum Allowable Sick Leave Hours
0-10,400	5	420
10,401-20,800	5-10	480
20,801-31,200	10-15	540
31,201 and over	15 and over	600

Life Insurance

Idaho State University provides life insurance for retirees if at the time of retirement, the retiree's age plus years of ISU service total at least 80, (Rule of 80).

Life insurance benefits are paid at the following rates:

• 100% of salary at time of retirement- to age 65
• 75% of salary at time of retirement- from ages 65-70
• 50% of salary at time of retirement- after age 70
• Spouse: $1,000
• Children under the age of 23: $500

The retiree life insurance benefit is administered through Idaho State University, Human Resources. To file a claim, contact ISU Human Resources at (208) 282-2517.