1. Planning for Retirement

2. Overview Eligibility Requirements for Health Coverage
Sick leave credit
Dual annuitant / Dependent Survivor Coverage
Deferred Medical Coverage
Medicare Part A, B (how reimbursed) & D
Continuing Union Membership
COBRA / Voluntary Dental & Vision Plans

3. 3 main criteria for retiree health insurance
Minimum State Service Time - 10 years in a benefits eligible position
Age 55 or older
Enrollment in New York State Health Insurance Program (NYSHIP) either as an enrollee or dependent at time of retirement

4. Common Misconceptions
I must have 200 sick days to qualify for retiree health insurance
If I have 200 sick days my retiree health insurance is free for the rest of my life
Once my sick leave is exhausted, I will no longer be eligible for retiree health insurance

5. Estimating Sick Leave Credit
(See GREEN sheet)
$ 60,000 Annual salary
÷ to get biweekly pay
$ (biweekly pay)
÷ 10 to get daily pay
$ (daily rate of pay)
x # of sick days
$ 46, (value of sick leave)
÷ 241 life expectancy at 65
$ Sick Leave Credit // $ Dual Annuitant
2018 Retiree Empire Rates: (monthly) $93.42 / $ ~~ $ / $487.29
** $41,756 is the cut off rate **

6. Dual annuitant sick leave credit
If you elect this option, your covered dependents may use your sick leave credit upon your death
30% reduction of value of your credit
Ex. $ Sick Leave Credit // $ Dual Annuitant
This choice must be elected prior to retirement
A few things to consider:
Age
Health
Family history

7. Dependent Survivor Coverage
3 month extended coverage period
Option to continue coverage thereafter
Spouse survivor coverage will end if:
remarry
acquire a domestic partner
fails to make required payments
Dependent child survivor coverage ends at age 26

8. Deferred Health Insurance Coverage
You may defer (delay) your retiree health & sick leave credit if:
you have other health insurance coverage at the time of retirement (non NYS coverage)
Decision must be made before retirement
The value of your sick leave credit will increase as the life expectancy will be determined when you opt into the retiree coverage
You may reenroll for NYSHIP coverage anytime. However, a waiting period may apply (42 days)

9. Medicare Coverage (Age 65 ?)
Part A - Hospital Services
(No cost to sign up)
Part B - Physician Services
(Standard 2018 Part B is $ per month)
Part D – Prescription Coverage
When should you sign up for Medicare ??
(including spouse)

10. Part B Reimbursement & IRMAA
ERS & TRS - credit into account monthly
ORP - quarterly check
Member & Spouse both reimbursed (unless reimbursement is received from another source)
If you owe money for Health Insurance:
The State will calculate the difference and deduct monies from the Medicare Part B reimbursement
IRMAA (Income Related Monthly Adjustment Amount)
Letter mailed from NYS every January

11. Prescription Drug Coverage
RX stays with Empire/NYSHIP or HMO until age 65
At age 65 and over (if with NYSHIP) :
Prescription coverage becomes the Empire Plan Medicare Rx (Medicare Part D program) a/k/a Silver Scripts
Same benefits & co-pays / Different ID card
Can enroll in only 1 Part D program

12. Moving Out-of-State? Empire Plan Par Providers Nationwide
(877-7NYSHIP)
( )
(HMO’s are not available out-of-state)

13. Reporting Changes to NYS After Retirement
All changes for NYS go through Civil Service and must be in writing. Include your NYSHIP ID # and sign / date the letter NYS needs street address on file Option transfer once every 12 months UUP changes can be called in

14. Working after Retirement
Working back at the college/hospital
Earn $14,430 (per contract) // 2 courses per semester:
Eligible for active healthcare, UUP dental & vision benefits
Medicare stops being primary
*(Part B premium not reimbursed if you return to work)
Earnings limit for NYS public employment & collecting pension
Section 212 of Retirement and Social Security Law:
$30,000 limit if under age 65
Age 65+ no limit
Earnings limit per Social Security (if collecting)
At full retirement (age 66+) no limit on earnings
If under full retirement (age 65), during all of 2017,
earnings limit will be $15,720

15. UUP Retiree Membership

17. UUP Retiree Membership
Membership is currently $50 annually (Sept. – Sept.)
This allows you to receive UUP/NYSUT/AFT discounted benefits during retirement.
$1000 life insurance through UUP **
UNUM Travel Assistance **
Dental / Vision coverage (additional cost)
Hyatt Legal Services
Auto & Home insurance discounts
Travel discounts

18. *Can pay as far ahead as you want
COBRA: Dental & Vision
‘Grace’ period of coverage
COBRA: same benefits as active members
Available for 18 months
After COBRA, voluntary plans available for dental & vision
COBRA Rates 2017: (Dental & Vision Combined)
Individual $ monthly*
Family $ monthly*
*Can pay as far ahead as you want

19. Voluntary Dental Plans
DELTA Dental PPO (UUP)
Change in benefits:
No Implant or Orthodontia
Prev. services at 80%
Basic at 60%
Cost:
Individual: $ per quart
2-person: $ per quart
Family: $ per quart
Delta DentalCare
Must select a participating provider
Each proc. has set copayment
Cost:
Individual: $58.26 per quart
Family: $ per quart
ALSO Available
MetLife Dental through NYSUT
Emblem Health dental for NYS retirees (call ) **

20. Davis Vision Value Advantage
Voluntary Vision
Davis Vision
Covers vision exam and glasses once every 12 months
Individual $ quarterly
Family $ quarterly
Davis Vision Value Advantage
Automatically enrolled as a retired member of UUP (No premium cost)
Discounted program covers exam, lenses, and frames
Must use participating Davis Vision provider

21. Helpful Contacts / Websites
UUP Retiree Coordinator: Walter Apple
X638
NYS Civil Service, Employee Benefits Division (EBD)
(M-F // 9 to 4)