Retiree Health Benefits 2006
| Personnel
System |
Retiree
Class |
Details |
KCTCS Personnel System
|
Retiree Plan under age 65
Retiree Costs |
Retirees will be eligible for the same
health plans that are available to active KCTCS employees through
the Kentucky Employees Health Plan. View the Health Plan Options
at http://personnel.ky.gov/stemp/dei/default.htm
Eligibility for retirement for KCTCS faculty/staff members occurs
when the combination of the employee's age and years of regular
full-time service (with a minimum of 15 years of continuous service
at the time of retirement) equals or exceeds the number 75 ("Rule
of 75").
For purposes of calculation of years of service for retirement under
KCTCS personnel policies, the Faculty/Staff member's date of hire
is based upon their total years of continuous service with KCTCS,
UK or 18A/151B personnel policies.
KCTCS will provide an employer contribution not to exceed the cost
of the premium. Retirees will be billed on a monthly basis for the
insurance premiums not covered by the KCTCS employer credit.
The surviving spouse may receive one half of the applicable single
credit if the retiree had coverage on the spouse and was eligible
to receive the credit at the time of death. Surviving spouse coverage
continues for life.
Premium and Contribution Rates will be reviewed and/or subject to
change annually at Open Enrollment. (January 1st)
A faculty/staff member must have 15 years or more continuous, regular
full-time service or its equivalent to be eligible to remain on
a health plan with KCTCS and receive the employer credit. |
KCTCS Personnel System
|
Retiree Plan over age 65
Plan Benefits |
Retirees who are age 65 or older
and eligible for Medicare Part B are no longer eligible to participate
in the Kentucky Employees Health Plan. (KEHP Plan) They are eligible
to participate in any Medicare Eligible Secondary Coverage plan
offered by KCTCS.
For 2006, KCTCS offers Anthem "Blue Seniors Standard (Low Option)
and Blue Seniors Standard with Prescription Drug Rider (High Option).
Plan Benefits at a glance are attached as a link. Low Option coverage
does not provide any prescription drug benefits. Anthem Blue Seniors
is available nation-wide.
If the KCTCS retiree elects the high option plan with prescription
coverage, the plan's prescription benefit provides "creditable
coverage" and the retiree does not need to sign up for Medicare
part "D".
Creditable Coverage
If the KCTCS retiree elects the low option plan without prescription
drug coverage, it is recommended that the retiree sign up for
an available Medicare part "D" plan in their state of
residence.
Rates for Plan Year Jan. 1st, 2006 - Dec. 31st, 2006
| Plan/Coverage
Level |
Monthly Rate |
KCTCS Credit |
Employee Cost (Monthly) |
| High Option Retiree
|
$341.22 |
$319.96 |
$21.26 |
| High Option Retiree
Spouse |
$341.22 |
$0.00 |
$341.22 |
| Low Option Retiree
|
$122.56 |
$122.56 |
$0.00 |
| Low Option Retiree
Spouse |
$122.56 |
$0.00 |
$122.56 |
| High Option Surviving
Spouse |
$341.22 |
$159.98 |
$181.24 |
| Low Option Surviving
Spouse |
$122.56 |
$61.28 |
$61.28 |
| Retiree 5-15 yrs High
Option |
$341.22 |
$0.00 |
$341.22 |
| Retiree 5-15 years
Low Option |
$122.56 |
$0.00 |
$122.56 |
KCTCS will contribute $ 319.96 monthly (not to exceed the premium
cost) towards the purchase of a Medicare Eligible Secondary Coverage
policy for an eligible KCTCS retiree.
The KCTCS employer credit is available to the KCTCS Retiree only
and not to the retiree spouse and/or dependent.
The surviving spouse may receive one half of the employer credit
if the retiree had coverage on the spouse and was eligible to
receive the credit at the time of death. Surviving spouse coverage
continues for life.
A faculty/staff member who is 65 years old or older and has a
minimum of 5 years but less than 15 years of continuous, regular
full-time service is eligible to participate in the health plan
with KCTCS but is not eligible to receive the employer credit.
They must pay the entire cost of the premium.
Any premiums not covered by the KCTCS contribution credit will
be billed on a monthly basis. Administration of the billing will
be handled by the KCTCS Systems Office Employee Benefits Department
including processing of enrollments, Contact (859) 256-3100.
Premium and contribution rates are subject to change in January
at each open enrollment. |
18A/151B Personnel System
|
Retiree Plan under age 65 |
Retirees will be eligible for the same
health plans as active employees through the Kentucky Employee Health
Plan. Administration will be performed by the respective retirement
carrier (KERS or KTRS). Employer contributions are established by
the retirement carrier. |
18A/151B Personnel System
|
Retiree Plan over age 65 |
Retirees over the age of 65 should
contact their respective retirement carrier, KTRS or KERS. The individual
retirement carrier administers the over age 65 health insurance
programs.
http://www.kyret.com
(KERS)
http://www.ktrs.ky.gov
(KTRS) |
UK Personnel System
|
Retiree Plan under age 65
Retiree
Costs |
UK retirees are eligible for the same
health plan options that are available to active employees even
though the rates may be different.
Eligibility for retirement for UK faculty/staff members occurs when
the combination of the employee's age and years of regular full-time
service (with a minimum of 15 years of continuous service at the
time of retirement) equals or exceeds the number 75 ("Rule of 75").
UK will provide a contribution equal to the UK active single contribution
rate applicable to the retiree's geographical location not to exceed
the cost of the premium. Retirees will be billed on a monthly basis
for the insurance premiums not covered by the UK employer credit.
Any surviving spouse of a retiree who is covered under a UK health
plan may receive one half of the single UK Carveout Plan credit
towards the cost of the health coverage. In order to be eligible
for the surviving spouse credit, the retiree must have had coverage
on his or her spouse at the time of death.
Premium and contribution rates are subject to change in July at
each open enrollment. |
UK Personnel System
|
Retiree Plan over age 65
Retiree
Costs |
Retirees over the age of 65 are
eligible for the UK Retiree Costs Medicare Carveout Plan. Medicare
is the primary payor and the UK Medicare Carveout Plan pays secondary,
the retiree pays the costs in excess. Retirees will continue to
receive first-dollar prescription drug coverage.
Any surviving spouse of a retiree who is covered under a UK health
plan may receive one half of the single UK Carveout Plan credit
towards the cost of the health coverage. In order to be eligible
for the surviving spouse credit, the retiree must have had coverage
on his or her spouse at the time of death.
For information about Medicare part "D" and the UK
Carve-Out Plan please see link below:
http://www.uky.edu/HR/benefits/documents/Medicarefaq.pdf |
For additional information visit the Medicare and Social Security web-sites:
www.medicare.gov
www.socialsecurity.gov
|
