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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

The state offers Retirees and their eligible dependents the choice of Blue Cross of Idaho PPO, Traditional and High Deductible medical plans. To be eligible a retiree must have been hired on or before June 30, 2009, be under age 65, have at least ten (10) years (20,800 hours) of credited state service, be receiving monthly retirement benefits from a State Retirement System and retire directly from state service. Retirees hired after June 30, 2009 are not eligible for coverage unless they have credited state service of at least twenty thousand eight hundred (20,800) hours before June 30, 2009 and subsequent to reemployment, election or reappointment on or after July 1, 2009 accumulate an additional six thousand two hundred forty (6,240) continuous hours of credited state service and are otherwise eligible for coverage.

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

Rates for FY2014:

PPO Plan	Retiree	Retiree & Spouse	Retiree & Child(ren)	Family
No Medicare	$568	$1,112	$780	$1,291
One on Medicare	$197	$884	$436	$1,064
Two on Medicare	N/A	$500	N/A	$679
Traditional Plan	Retiree	Retiree & Spouse	Retiree & Child(ren)	Family
No Medicare	$584	$1,138	$813	$1,331
One on Medicare	$197	$897	$451	$1,090
Two on Medicare	N/A	$500	N/A	$693
High Deductible Plan	Retiree Only	Retiree & Spouse	Retiree & Child (ren)	Family
No Medicare	$428	$898	$611	$1,061
One on Medicare	$132	$719	$345	$874
Two on Medicare	N/A	$401	N/A	$561

 

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.