Insurance
Medicare-Eligible Retiree Benefit Information
For the Medicare-eligible retirees in the FreedomBlue PPO, Geisinger physicians and hospitals will be out-of-network providers, as was communicated during our retiree meetings this past fall. The out-of-network benefit for the FreedomBlue PPO has a maximum out-of-pocket of $500 per person, per year. This most recent contract negotiation between Geisinger and Highmark did not pertain to the Medicare-eligible health plan. Please contact Highmark Blue Shield’s FreedomBlue customer service at 866-918-5285 if you have questions about the plan or the providers.
Medical Coverage
If you were hired prior to January 1, 2010
You may continue coverage for you and your eligible dependents provided, at retirement, you meet the following conditions as applicable:
- You are at least 60 years of age
- You have at least 15 years of continuous regular full-time employment with continuous participation in a University sponsored medical plan immediately preceding retirement
OR
- You have 25 years of regular full-time University employment
- Ten years of continuous participation in a University sponsored health care plan immediately preceding retirement
If you and/or your spouse are Medicare-eligible, medical plan coverage will be provided under a retiree Medicare plan.
If you and your spouse are not Medicare-eligible, you will continue coverage in the same University sponsored medical plan in which you were enrolled. As you and your spouse attain Medicare-eligibility, your coverage will change to a retiree Medicare plan. You will be billed by the University on a semi-annual basis for medical benefits.
Additional Resources
If you were hired after January 1, 2010
The University contributed funds each month on your behalf to a retirement health care savings plan to help you to pay for qualified medical and health-related expenses in retirement, including the purchase of a health insurance policy.
You are eligible to access your Penn State Retirement Savings Account when you are no longer actively employed at Penn State and have:
- Completed 25 years of continuous full-time service and are age 60 or older
OR
- Completed a minimum of 15 years of continuous full-time service and are age 65 or older
Dental and Vision Coverage
Dental and vision plan coverage terminates at retirement; however, you may be eligible to continue these plans for an additional 18 months under the provisions of COBRA. You must contact the Employee Benefits Division within 60 days after your retirement date if you wish to continue coverage.
Accidental Death and Dismemberment AD&D Coverage
You may convert your AD&D to individual coverage.
Limits on Life Insurance after Retirement
If you began employment with Penn State University on or before April 30, 1954, you may continue $10,000 of life insurance into retirement.
If you began employment with the University on or after May 1, 1954, you may continue $5,000 of life insurance into retirement if you qualify to continue benefits into retirement.
