How do I pay for my HCPSS Retiree Health Insurance Premium?
Retiree premium is deducted from the retiree’s pension. If the funds are not available to cover the deduction amount, the retiree will be invoiced by our third party billing administrator.
Will my benefit payments be deducted from my pension?
Premium payments are deducted from the retiree’s pension. If the pension funds are not available to cover the total amount, you will be invoiced from our third party billing administrator.
Is there a Board contribution for dependents when I retire?
There is no Board contribution for dependents. You may cover any eligible dependents if you elect to, but the cost is fully funded by the retiree with no Board contribution.
How much is the Board contribution for retiree health insurance?
The percentage of the Board contribution for retiree health insurance is contingent upon the cumulative years of services, and calculated on the prime insurance carrier which is currently the Aetna Select Open Access (HMO ) plan. At 15-19 years, the board contribution is 50%, at 20-24 years the board contribution is 75%, and at 25+ years the board contribution is 90%.
What will be the cost of my retiree benefits?
The cost of your benefits is based on the type of plan you are enrolled in, your years of service with HCPSS, if you are Medicare eligible, your retirement date, and if you intend to cover any dependents. Retiree rates can be found on the Retiree Benefits website.
When do I need to submit the Retiree Benefit Change Form?
You only need to complete a Retiree Benefit Change Form at the time of retirement, if you are canceling your insurance, if you are electing for the “One time Opt Out” option, when removing a dependent(s), or if you are moving out of the service area for medical coverage. You must submit your change form 45 days prior to your retirement date.
Am I automatically enrolled in the retiree life insurance benefit if I’m eligible? Or do I need to enroll?
You do not need to enroll in the retiree life insurance benefit. As long as you have a minimum of 10 years of service with HCPSS, you are eligible for retiree life insurance. It is important to update your life insurance beneficiary information periodically.
May I enroll in dental when I retire, even though I currently do not have dental?
No, you cannot enroll when you retire if you are not currently enrolled. You must have the benefit at least one full year prior to retirement in order to have it during retirement.
May I opt out of the medical and continue the dental and vision benefits?
Yes, you may as long as you are eligible for benefits you wish to continue. However you may only exercise the opt-out option one time, and it must be at the time of retirement.