Penn State Retirement Health Insurance

Date:

Disabled Dependent Child Eligibility

Understanding the Retired Employees Health Program (REHP)

A Workday notification is sent to the employee one month prior to a dependent child turning age 26. The notification includes information concerning a dependent child who may be eligible to continue coverage if that depedent is physically or intellectually handicapped, so as to be incapable of earning a living when coverage would normally terminate due to age. Follow the instructions provided in the notification regarding contacting the appropriate insurance carrier.

Once a disability certification is completed by the insurance carrier, communication will be provided to Penn State Employee Benefits for applicable coverage.

Sers Online Member Services

With a member services account, you can view your SERS benefit information and if you are an active SERS member, you can estimate your future retirement benefit.

Create a New Account

We have joined with other state agencies to offer the Keystone ID, a single, secure way to access multiple commonwealth services, including SERS member services. To create a new Keystone ID, click on New User in the sign-in box to the right.

Already have a Keystone ID?

Enter your existing Keystone ID and password in the box to the right and then you will be instructed to create a SERS-specific, 4-digit PIN.

Need Help With This Site?

If you have trouble signing in, please reset your password by clicking on Forgot Password in the sign-in box.

For other technical issues, please e-mail or call SERS at . Please provide your name, phone number, e-mail address, your active/retired status, and a description of the issue you are experiencing with this site.

I Want to…

Thats Okay As A General Guide Aim To Contribute 10

Over the course of your career, that’s how much it may take to potentially generate the income you need for retirement.

If 10-15% is an amount you can’t afford right now, contribute as much as you can comfortably afford. Then strive to increase that amount by putting raises toward it and small annual increases.

For financial guidance, call 800-842-2252 to speak to a TIAA financial consultant.

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Will I Receive A Payment For My Accumulated Vacation Or Sick Time

Currently, Penn State’s practice is to pay all unused vacation/sick out in the same month as the final paycheck.

Sick time is paid at a rate of up to 12.5 or 17 days, based on your number of years of service.

Deductions taken from a vacation and/or sick time payoff are limited to taxes only. However, if you are enrolled in a supplemental retirement program, or have other charity deductions , you will have a deduction taken from the final check. If you do not want these deductions, you will need to complete the appropriate paperwork to stop deductions.

Checks will be automatically deposited into your account that is set up currently with the payroll office.

Becoming Medicare Eligible After Retirement

Stepping away with âmany, many thanks,â? Brechbill retires

Upon becoming eligible for Medicare Parts A and B, your medical coverage is required to change to the University-sponsored Medicare Advantage plan, Freedom Blue PPO offered through Highmark. We will mail you a letter approximately three months prior to you and/or your spouse turning 65 to remind you to take the following actions.

The Freedom Blue application must be received in the Penn State Employee Benefits office PRIOR to your 65th birthday with a copy of your Medicare card. If the Freedom Blue application is not received PRIOR to your 65th birthday, your Freedom Blue effective date will be the first of the month following receipt. Failure to enroll within 30 days of turning 65 could result in a cancellation of retiree benefits due to not being enrolled in the correct plan based on Medicare eligibility. Once dis-enrolled, retirees are not able to re-enroll at a later date.

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What Is The Deadline For Deciding Between Sers And The Penn State Alternate Retirement Plan With Tiaa

You have 31 days from the effective date of your appointment to choose your retirement plan If you do not make your decision within the 31 day period state regulations require that you automatically be enrolled in SERS. Once your choose a plan the decision is irrevocable, and you can not change retirement plans. However, you may enroll in a TIAA supplemental retirement plan at any time.

Duty To Notify Of Ineligibility

The employee is responsible for making the appropriate updates in Workday for any change that affect the employee’s dependent eligibility, for example, marriage or divorce. An enrollee ceases to be a covered dependent of all employee benefit plans on the date the enrollee no longer meets the definition of a dependent, regardless of when notice is given to the University. Covering a dependent who does not meet the eligibility criteria, intentionally or unintentionally, may result in disciplinary action, up to and including termination of employment.

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Long Term Care Insurance

PARSE endorses some of the most highly rated and stable Long Term Care Insurance companies. You choose an individualized plan to meet your needs: coverage includes care in your own home, care in an assisted living facility or care in a nursing home. Many of the companies offer premium discounts just for being a member of PARSE

Benefits For Postdoctoral Appointments

A Farewell Message from Dr. Hillemeier

Policy regarding postdoctoral apointments can be found at .

Medical

Postdoctoral appointees interested in participating in the Penn State employee healthcare plan according to postdoctoral scholar eligibility, the per pay contribution rates follow the same salary-based schedule as faculty and staff. Information on rates are provided at .

  • Aetna Medical Plan
  • All postdoctoral scholars and fellows are eligible to enroll in the PPO Plan
  • J1 Visa holders and postdoctoral fellows are not eligible to enroll in the qualified, high-deductible plan, PPO Savings Plan

Health & Dependent Care Flexible Spending Accounts

  • Postdoctoral Scholars are eligible to enroll in either or both accounts
  • Postdoctoral Fellows are not eligible to enroll in either or both accounts

Postdoctoral Fellows are not eligible for the pre-tax Health Savings Account or the pre-tax Flexible Spending Account due to the pre-tax nature of their stipend. Postdoctoral Fellows are only eligible to enroll in the PPO Plan, as Penn State automatically pairs the PPO Savings Plan with a pre-tax Health Savings Account.

Vision –

For postdoctoral appointees interested in participating in the Penn State employee vision plan, the per pay contribution rates follow the same schedule as faculty and staff. Information on rates are provided at .

Dental

Employee Assistance Program

Age-Graded Life Insurance

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Dependent Protection In University Sponsored Medical Plans After The Death Of A Faculty Or Staff Member Or Retiree:

At the death of a retiree who continued medical plan coverage after retirement, or an active faculty or staff member who was qualified to continue coverage on the basis of age and/or length of service, eligible surviving dependents may continue to be covered under a University sponsored medical plan. Dependent children will qualify for coverage until the age of 26. Surviving spouses may continue the coverage for life, or until remarriage occurs.

If, at the time of death, a faculty or staff member was not qualified to continue medical plan coverage after retirement, coverage would continue for the surviving spouse for one year or until remarriage occurs, if earlier.Dependent children also would continue to be covered under the plan, assuming that they continued to meet the definition of a qualified dependent.Individuals interested in continuing the coverage beyond this period should contact the Employee Benefits Division regarding coverage extensions under COBRA.

Revisions:

Health Plan Premium Comparison

Premium contributions are based on your annual base salary . Your 2022 premium contribution amount is effective January 1, 2022. The 2022 rate is reflected in the Benefits Open Enrollment area of Workday, which you will see when you are making elections for next year. The premiums shown below are examples based on the exact salaries shown. Your premiums will be based on your specific annual base salary.

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Voluntary Phased Staff Retirement Program

If youd prefer a gradual transition into retirement, consider participating in the Voluntary . If youre approved for Phased Retirement, youll work reduced hours but still be eligible for the same benefits that you receive as a full-time staff member. Phased Retirement cannot last more than two years, at which point youll officially retire and be entitled to Penns retiree health benefits.

To participate in the Voluntary Phased Staff Retirement Program, you must meet the Rule of 75. Participation also depends on the business needs of your department. Visit the page for more information, including basic provisions of the Phased Retirement Program, required forms, and a list of Frequently Asked Questions.

Welcome Penn State Retirees

College of Medicine Dean and Penn State Health CEO Craig Hillemeier to ...

Retired Penn State employees are eligible to use University Health Services Pharmacy. We proudly accept the current employee/retiree prescription insurance plans, CVS/Caremark, and Freedom Blue Medicare Advantage through Highmark.

First-Time Pharmacy Customers

First-time pharmacy customers should complete the and submit it along with, or prior to, your first prescription order.

The Pharmacy Employee/Retiree Enrollment Form can be dropped off at the pharmacy during regular business hours, or mailed to:

UHS Pharmacy202 Student Health CenterUniversity Park, PA 16802

If you have a new prescription that needs to be filled, please attach it to the form. After your first prescription has been filled you will be able to use one of our easy prescription refill options.

The Pharmacy will fill written, original prescriptions. You may bring your prescription to the pharmacy service window, have your clinician fax it to the pharmacy at 814-863-5371, or mail it to the pharmacy.

We cannot accept prescriptions:

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Think About These Three Easy Things To Do To Help You Pursue Your Goals For Retirement:

  • Contribute as much as you can afford, up to the IRS limit
  • Get the most from any employer matches
  • Check your investment mix. Does it still make sense in relation to your age and lifestyle? Strive for a smart balance of aggressive and conservative investments that fit your needs.

Please keep in mind that there are inherent risks in investing. It is possible to lose money by investing in securities.

How Can I Determine If I’m Saving Enough Money For Retirement

The best way to determine if you’re staying on track to meet your retirement needs is by speaking to a TIAA representative dedicated to Penn State employees. You can reach them at:

328 Innovation Boulevard State College, PA 16803 278-5000

If you want to do a quick check on your own you can use either the retirement calculator or the retirement advisor.

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Retiree Request For Change Form

If you wish to refuse medical coverage, you must complete the Retiree Request for Change Form. Retirees who refuse coverage will not be able to re-enroll at a later date.

Retiree dependent coverage can be added ONLY if the eligible dependent experiences an IRS qualifying life event change. Changes must be requested within 31 days of the event by completing a Retiree Request for Change form. You can also contact Penn State HR Services at 814-865-1473 to request a copy be mailed to you. The following are examples of IRS-defined life event changes when you are able to add an eligible dependent:

  • Employee’s legal marital status changes
  • Adoption/legal guardianship
  • Changes in employment status of a spouse, which can include the ending of their employment, new or different working hours resulting in a change of their employer-sponsored benefits

If your eligible dependent loses coverage and needs to enroll in the Penn State Retiree Medical Benefits as your dependent, please complete the Retiree Request for Change Form. If your dependent is also Medicare eligible, they will also need to complete a Freedom Blue application and provide a copy of their Medicare card outlining the Part A and Part B effective dates.

After a dependent child is no longer eligible under your retiree plan, they will receive information from Lifetime Benefit Solutions regarding continuation of benefits under COBRA.

How Do I Update My Address Marital/family Status And Beneficiary Designation With Penn State After Retirement

Penn State Health: Rapid data recovery across virtual machines and big data

Contact the Employee Benefits office for any of these events. Address updates made with our office will also transfer to any applicable insurance carriers. Please notify other necessary University offices directly to ensure that they have updated information.

Per The Centers for Medicare & Medicaid Services guidelines, Freedom Blue PPO Medicare Advantage plan participants are required to personally inform the health plan of any demographic changes .

All Freedom Blue plan participants will be required to notify the University, as well as Highmark, of any address or phone number changes to ensure important plan communications are received, as the University will no longer be able to transmit this information electronically to Highmark due to the CMS guidelines.

When adding or removing a dependent from medical insurance, please notify Penn State Employee Benefits as soon as possible, in order to ensure accuracy of the retirees medical insurance bill. You will need to complete a Retiree Request for Change form and scan/email it to or mail it to our office.

Changes to beneficiaries can be made anytime by contacting HR Services at 1-814-865-1473. Once the applicable information is obtained for your request, a Penn State Employee Benefits representative will provide you with the correct form for changing your beneficiary.

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Adding And Removing Employee Or Dependents Mid

Outside Open Enrollment, employee coverage or dependent coverage can be added only if the employee experiences an IRS qualifying life event changes with appropriate supporting documentation. Changes must be made in Workday via the WorkLion portal within 31 days of the date of the life event change. After that time, the employee must wait until the next Open Enrollment. The effective date of a coverage change based on an IRS qualifying life event change will be the date that the life event occurred , and in order to ensure a proper effective date is selected, supporting documentation regarding your event must be provided. Documentation may be a marriage certificate, a birth certificate, adoption documents, and/or loss of coverage information from a former employer or insurance company.

Employee or dependent coverage can be removed at anytime throughout the year without a life event change. Though, if you remove coverage and later decide that you want Penn State coverage, the above guidance for adding coverage would be applied.

The following is a summarized list of IRS-defined life event changes:

Life Insurance After Retirement:

Employees who retire from Penn State on or before December 31, 2020 will continue to carry a $5,000 Term Life Insurance benefit policy into retirement at no cost to the retiree. This benefit is not available to employees retiring on or after January 1, 2021. Technical Service employees should refer to their Collective Bargaining Agreement for details regarding this benefit.

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I Want To Live The Way Im Living Today

Many financial planners estimate that youll need 80-90% of your pre-retirement income to maintain your lifestyle in retirement. As you get older, more of that money may need to go toward healthcare and other essential expenses.

Retirement annuities can help replace your salary with monthly income thats guaranteed for life.

Retirees Who Have Not Yet Signed Up For An Hsa Or Hra

Espenshade reflects on 35 years with Hershey Medical Center

Retirees who have not yet signed up for an HSA or HRA will need to complete a two-step process in order to participate in the HSA/HRA plan:

STEP 1: All retirees who are covered by the College’s health insurance plan who wish to establish an HSA or HRA are required to complete either the HSA Enrollment Form OR the HRA Employee Attestation Form . See below to determine which form you should complete.

Mail the completed form to One College Avenue, Williamsport, PA 17701, DIF 53 or email an electronic scan of the signed form to ).

STEP 2: The information from completed forms will be sent to Discovery Benefits and an online account will be established. You will then receive a welcome email from Discovery Benefits with instructions for logging into your account. Once logged in, you will register your account and then debit cards will be issued with 10-14 business days. You will not be able to access the funds until you have registered your account.

A few things to keep in mind:

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You Can Start Saving Now And Make The Most Of Your Benefits

Contributing even a small amount now can potentially make a big difference by the time you retire. The earlier you start contributing to retirement plan investments, the more you can potentially save.

Thanks to compounding, any earnings on your investments gets reinvested and can potentially earn even more money, and so on.

Take advantage of your jobs retirement benefits. Many employers offer contribution matching. Other benefits may be available, such as pre-tax and tax-deferred contributing, which could help maximize your savings.

Please keep in mind that there are inherent risks in investing. It is possible to lose money by investing in securities.

Have You Experienced A Qualifying Life Event

Pennie throws open its doors from November through January 15th for all Pennsylvanians to come shop for health insurance. After January 15th, folks who experience a Qualifying Life Event are still eligible to apply for financial assistance and shop for health insurance.

Qualifying Life Events

A qualifying life event is a life-changing situation sometimes planned, sometimes unexpected that can impact you and your health insurance.

Path to Pennie

When completing your Pennsylvania Income Tax return, you may have completed form REV-1882 electing to receive information about enrolling in health and dental coverage.

Income Qualifiers

Pennsylvania residents who reported income that is at or below 150% of the Federal Poverty Guideline are eligible for a special enrollment period.

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