Retiree Information

On August 27, 2012, the Board voted and approved a change to the basic life insurance benefit for retirees. Beginning January 1, 2013, all retiree basic life insurance for those under age 70 will be capped at $25,000, until the retirees turn age 70. At the age of 70, the benefit reduces to $7,500.

For retirees over age 70 there is no change to your $7,500 life insurance benefit. Retirees should maintain current beneficiary information with EBRPSS’ benefits department.

 

Medicare

Retired participants of the EBRPSS medical plans and their covered dependent spouses, who reach age sixty-five (65) on or after June 1, 2005, must enroll in Medicare Parts A and B in order for their claims to be paid under this Plan.  If a retired participant or covered spouse is eligible for Medicare, but do not enroll for Parts A and B, the claims of the person eligible for Medicare will be denied.

There are three (3) times when retirees can sign up for Medicare Part B:

1. Initial Enrollment Period (when you turn 65),
2. General Enrollment Period (January 1 thru March 31 each year),
3. Special Enrollment Period (waited to enroll in Part B because you were still working full-time with EBRPSS)

Retirees not eligible for Medicare may continue the EBRPSS plan; however, the premium structure in future years will reflect a non-Medicare rate.

 Additional information can always be obtained at the Medicare website: www.medicare.gov.