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Benefits: Insurance: Retiree Insurance Benefits

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, then will be considered a Late Enrollee. The effective date would 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

The following rates are effective July 1, 2004 to June 30, 2006

PPO Plan $2,000 Prescription Drug Cap	Retiree	Retiree + Spouse	Retiree + Child(ren)	Family
No Medicare	$378	$670	$486	$778
One on Medicare *	$183	$562	$291	$670
Two on Medicare *	N/A	$354	N/A	$461
Traditional $2,000 Prescription Drug Cap	Retiree	Retiree + Spouse	Retiree + Child(ren)	Family
No Medicare	$386	$686	$502	$802
One on Medicare *	$183	$570	$299	$686
Two on Medicare *	N/A	$354	N/A	$469
PPO Plan NO Cap Prescription Drug Benefit	Retiree	Retiree + Spouse	Retiree+ Child(ren)	Family
No Medicare	$454	$820	$638	$1,004
One on Medicare *	$259	$712	$443	$896
Two on Medicare *	N/A	$505	N/A	$687
Traditional No Cap Prescription Drug Benefit	Retiree	Retiree + Spouse	Retiree + Child(ren)	Family
No Medicare	$462	$836	$654	$1,028
One on Medicare *	$259	$720	$451	$912
Two on Medicare *	N/A	$505	N/A	$695

(* Requires both parts A and B of Medicare.)

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, you may self pay your premiums after your entitlement is exhausted.

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 annual income - to age 65
• 75% of annual income - from ages 65-70
• 50% of annual income - 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.