Office of Human Resources Management, University at Albany, State University of New York

OHRM Organizational Units

Benefits Home Page

Employee Relations Home Page

HRIS Home Page

Immigration Home Page

Payroll Home Page

Personnel Operations Home Page

Sponsored Funds Personnel

Time and Attendance Home Page

Training Home Page

Benefit Information

Benefit Carriers Directory

Benefits for New Employees

Change of Address Form

Dental Insurance

Disability Insurance

Health Insurance

Long-Term Care Insurance

NYS Flex Spending Accounts

Retirement

Social Security Benefits

SUE Tuition Waivers

Vision Care Insurance

Site Information

FAQs

Forms Home Page

Links to Other Sites

Staff Listing

Site Map

Science Library

Science Library Interior 

 

Benefits

Health Insurance in Retirement: M/C

 

Cost Per Month
(Effective January 2007)

 

Individual

Family

NYS Empire Plan

$48.97

$201.06

CDPHP

$39.64

$190.84

Empire HMO

$53.02

$303.25

GHI HMO

$40.48

$226.69

MVP

$37.89

$176.08


 

You may continue health insurance coverage for yourself and your eligible dependents when you retire if you meet the following requirements:

  • First, you must have a minimum of ten years of service in a position in which you were eligible for health insurance.
  • Second, you must be at least 55 years of age (50 if retiring during an incentive).
  • Third, you must be enrolled in the New York State Health Insurance Program at the time of your retirement.


Your unused sick leave is converted into a dollar amount and divided by your actuarial life expectancy in months. The result is a lifetime monthly credit that is applied to your health insurance premium. The attached worksheet will help you estimate the value of your sick leave. Each month the cost of health insurance is compared to your sick leave credit. If the cost of health insurance is less than the value of your sick leave, you pay nothing. If the cost is greater than the value of your sick leave, you pay the difference. You have the option of using only 70% of the credit to pay for your health insurance coverage; if you choose this option, the sick leave credit is used to reduce the cost of your spouse's coverage after your death. Your premium is deducted from your pension check if in the Employees' Retirement System or the Teachers' Retirement System. It may take several months for health insurance deductions to begin; the Department of Civil Service will bill you monthly during this period. The Department of Civil Service will bill you if you are in the Optional Retirement Program or if you are not receiving a pension.

MEDICARE


You must enroll in Medicare if you are 65 or older or if you become eligible for Medicare due to a disability. Medicare will be your primary coverage and your NYS health insurance secondary. Medicare premiums ($78.20/month in 2005) are deducted from your Social Security check. The State will reimburse you for the cost of Medicare coverage in your Teachers' Retirement System or Employees' Retirement System pension check or on a quarterly basis if you are in the Optional Retirement Program. A reimbursement will be made for your spouse if he/she is also 65 or over and a dependent on your health insurance plan. In order to receive reimbursement for your spouse's Medicare premium, you must send a photocopy of his/her Medicare card to the Department of Civil Service. It may take several months after retirement for Medicare reimbursement to start; however, it will be retroactive.  Your NYS Health Insurance Program will remain primary for prescription drug coverage, so there is no need for you to enroll in Medicare D.  The Medicare D premium will not be reimbursed.

 

DENTAL INSURANCE AND VISION CARE


Your dental insurance and vision care coverage will end 28 days after you retire. If you are under 65 and not entitled to Medicare, you may continue in your current dental and vision care programs for up to 18 months under a federal law called COBRA. The monthly cost for dental insurance is $26.09 for individual coverage and $69.08 for family coverage. The monthly cost for vision care is $4.31 for individual coverage and $11.13 for family coverage. To obtain further information and an enrollment form, contact the NYS Department of Civil Service at 457-5754 no later than 60 days after your coverage as an active employee ends.

You also will be offered GHI Preferred dental coverage (very similar to the coverage you currently have). The cost is $31.54/month for individual coverage; $59.35/month to include your spouse, or $88/month for family coverage. You must elect this coverage within 30 days of receiving the offer from GHI or you forfeit your right to coverage. Information will be mailed to your home after retirement. If you continue your current coverage under COBRA, you may delay enrolling in the GHI Dental Plan until your COBRA coverage ends. You must notify GHI within 30 days of the end of your COBRA coverage if you wish to enroll in the retiree dental plan through GHI.

The State does not provide lifetime vision care to retirees.

 

POST-RETIREMENT EMPLOYMENT


It is important that you notify the Office of Human Resources if you continue to work for the University or for any NYS agency. New York State regulations impose earnings limits on NYS retirees under age 65 who continue to work for the State. You cannot earn more than $27,500/year in 2006 without jeopardizing your pension.  The Social Security earnings limit for anyone under 65 is $12.480 in 2006.

If you continue to work at least half time, you may continue your NYS dental and vision coverage and delay enrollment in the GHI Dental Plan. If you are 65 or older, your State health insurance will be primary, so you may defer enrollment in Medicare B; you will not receive a Medicare reimbursement from the State when your State insurance is primary. If you are working less than half time, there is no effect on your health benefits - that is, Medicare is your primary coverage and your State health plan is secondary.

 

Top


Employee Benefits
Office of Human Resources Management
University at Albany
Albany, NY 12222
(518) 437-4729 (Voice) 437-4731 (Fax)
Office Hours: M-F, 8:30am to 5:00pm, Summers, 8:00am - 4:00pm