Retirees

Below is information and links that may be helpful to current and soon-to-be retirees. 

If you have any questions about retiree benefits, please feel free to contact the Benefits Office at 330-263-2526.

Glossary of Insurance Terms (.pdf)

Health Plan

Staff members hired on or after March 1, 1994, are not eligible for a continuation of health coverage. Health coverage may only be continued if the employee’s date of hire was before March 1, 1994, and the employee is age 60 or older, and has been employed for at least 10 years.

Retirees over age 60, but under age 65 and not eligible for Medicare, may continue the plan in which they were enrolled as an active employee. The College will pay 50% of the College’s base policy premium toward the selected plan – to a maximum of $1,500 annually. A retiree age 65 and over may enroll in the College’s Medicare carve-out plan and the College will pay 50% of the premium – to $1,500 annually. A retiree may carry his/her spouse on the same plan (determined by age and Medicare eligibility) with the retiree paying 100% of the spouse’s premium. The spouse may continue the same plan if the retired staff member dies first.

Current rates for retirees (effective January 1, 2019), are as follows:

  • Retiree 65 and over - $277.84 per month
  • Retiree Spouse 65 and over - $475.40 per month
  • Retiree Under 65 - $583.44 per month
  • Retiree Spouse Under 65 - $710.93 per month 

Retirees should contact the Benefits Office at least 30 days before retiring if continuing enrollment in the health benefit. Otherwise, the health benefit will cease on the date of retirement. If enrollment in the Health Plan is declined at the time of retirement, a retiree will not be eligible to enroll at a later date.

*The College bills retirees on a monthly basis for their share of the health insurance premium. Payments of these bills should be made at the Business Office, with checks made payable to The College of Wooster. Monthly withdraws from the retirees’ bank account may also be set up through the Business Office.

Dental Coverage for Retirees

If enrolled, coverage ceases on the last day of the month in which the retirement occurs. Retirees and spouses enrolled in the retiree health plan are eligible for reimbursement up to $100 for one annual routine dental exam and/or cleaning. A claim form or itemized bill for these services should be submitted to the Benefits Office.

Vision Coverage for Retirees

If enrolled in the Health Plan, coverage ceases on the last day of the month in which the retirement occurs. Retirees and spouses enrolled in the retiree health plan are eligible for 100% reimbursement after a $20 copay for one annual routine eye exam. A claim form or itemized bill for these services should be submitted to the Benefits Office.

Helpful Links

Benistar (Prescription Drug information for retirees) 
For questions or concerns regarding your prescriptions please contact customer service Monday – Friday 8:30 a.m. – 6:00 p.m. Benistar Toll Free Number: 1-800-236-4732

Express Scripts

Medicare information (Medicare Part A, B, and D)

myCigna (Use this link to log into myCigna for more detailed information about your medical benefits. Search for doctors and hospitals for in-networks services and estimated costs for services.)
You may also contact Cigna’s customer service line at: 1-800-244-6224 (available 24 hours per day/365 days per year)

Cigna (General information about Cigna and what they offer regarding Health/Medical benefits)

Social Security (This is Social Security’s home website)

TIAA (Retirement) – Personal and College contributions, if applicable, will cease at retirement. Please contact TIAA-CREF’s Participant Information Center directly at 1-800-842-2776  for payout options.

The Standard (Life Insurance)
Retirees eligible for life insurance during employment will continue to receive a life insurance benefit provided the employee retires no earlier than 60 years of age and has been employed for at least 10 years. The amount of life insurance will be 25% of the amount in force as an active employee but will not exceed $10,000. The College assumes the full cost of the coverage. A conversion option for the amount that has been reduced is available through the insurance company. Retirees interested in converting the amount that has been reduced to an individual life insurance policy should contact the Benefits Office.

Please make sure your beneficiaries are updated. 

*The College’s life insurance carrier is The Standard as of September 1, 2017.

The Standard Forms:

Comparison Tools:

https://www.medicare.gov/forms-help-and-resources/find-doctors-hospitals-and-facilities/quality-care-finder.html

https://www.healthgrades.com

https://www.qualitycheck.org

https://www.consumerreports.org/health/hospitals/ratings

http://health.usnews.com/best-hospitals/rankings