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2013 Benefits for MFT RetireesHealth Insurance
Dental Insurance
Vision Insurance
Life Insurance
Health FSA
Long Term Care
Questions/Contact Info
Health Insurance
Retirees will be eligible to continue health insurance until they become Medicare eligible.
Retirees will receive COBRA/Retiree notice from CieloStar.
HP Distinctions III Plan I HP Distinctions III Plan II
(Single) $628.32 (Single) $581.50(Family) $1621.80 (Family) $1500.95
Rates are for 2013 only.3
Dental Insurance
Retirees will be eligible to continue dental insurance for life – as long as premiums are paid on time.
Retirees will receive COBRA/Retiree notice from CieloStar.
Dental Rates:
(Single) $24.09 (2013)
(Family) $94.57 (2013)
4Rates are for 2013 only.
Vision Insurance
Retirees will be eligible to continue Vision insurance until Medicare eligible– as long as premiums are paid on time.
Retirees will receive COBRA/Retiree notice from CieloStar.
Vision Rates: (Single Standard) $5.92 (2013) (Single Premier) $8.36 (2013)
(Family Standard) $16.32 (2013) (Family Premier) $22.95 (2013)
4Rates are for 2013 only.
Retirees and Spouse/Domestic Partner who are Age 65 and Older or Medicare Eligible
Retirees and their spouse/domestic partner will be eligible to participate in a District sponsored plan.
Retirees and their spouse/domestic partner who are 65 and older will have the option of two district sponsored Medicare supplemental plans.
Retirees must have Medicare A and B.
Medica Prime Solutions UCare$242.00 $246.00/$144.00952-992-2330 612-676-6900
5Rates are for 2013 only.
Retirees and Spouse/Domestic Partner Age 65 and Older or Medicare Eligible
Retirees and their spouse/domestic partner age 65 and older also have the option of participating in the Public Employees Insurance Plan (PEIP).
PEIP is not a District sponsored plan. Anyone who chooses to participate in PEIP or any
other non-District sponsored plan will not be able to participate in a district sponsored plan in the future.
PEIP - Call Medica at 952.992.2330 for information
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Retirees and Spouse/Domestic Partner Age 65 and Older or Medicare Eligible
Other Supplemental Plans Medica – 952.992.2330 Health Partners – 952.883.5000 Blue Cross/Blue Shield – 651.662.5020 AARP – 888.687.2277
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Health, Dental, Vision Insurance and Flexible Spending Plans
Health, Dental, Vision Insurance and Flexible Spending Plan End Dates– If you are retiring before the last day of school:
Coverage ends on last day of month retired
– If you are retiring at end of school year: Coverage ends on August 31
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Single and Family Coverage Changes– Changes Allowed during first 18 months
Result of qualifying event or open enrollment– Single to Family– Family to Single
– Changes Allowed after first 18 months– Family to Single
Changes
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Life Insurance
Basic Life Insurance continuation at $50,000
cost is $4.08 per month.
Supplemental Life Insurance continuation cost depends on coverage amount and age.
Basic and Supplemental Life can be continued for up to 18 months under COBRA.
At the end of 18 months, retirees can convert to an individual policy directly through the life insurance carrier.
You will receive notification and conversion kit from CieloStar.
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Health Flexible Spending Account
If you have a health Flexible Spending Account (FSA) and would like to continue the benefit for the remainder of the 2013 calendar year, you may do so through COBRA on an after-tax basis.
Claims have to be submitted to CieloStar by 3/31/2014 for any expenses incurred prior to your benefits termination date.
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Long Term Care Insurance
If you currently have Long Term Care Insurance, you will have the option to switch over to direct billing with the insurance company.
John Hancock Long Term Care Insurance 1.866.735.6268
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Wellness Pay (June 30, 2013)
Requirements for Wellness Pay. Retirees must be at be at least 55 years of age or
credited with 30 years of services by TRA If you are eligible, the wellness pay will automatically
be deposited into your Post Retirement Health Care Savings Account (PRHCSA) with the Minnesota State Retirement System (MSRS).
No taxes will be deducted.
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Wellness Pay (June 30, 2013)
The first time the money is deposited into your PRHCSA, MSRS will mail you a Welcome Kit.
Claims must be submitted to MSRS in order to receive reimbursement
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Wellness Pay (June 30, 2013)
Money in your PRHCSA can only be used for health care related expenses. Some examples are:– Medical Premiums– Dental premiums– Long Term Care (LTC) premiums– Co-pays– Out-of-pocket medical and dental expenses for
retiree and eligible dependents15
Wellness Pay (June 30, 2013)
Your wellness pay will be deposited by October 1, 2013 into your PRHCSA
Refer to the Retiree Reimbursement Section for more details about the PRHCSA
Wellness pay is:– Annual salary divided by 192 contract days
$59,256 annual salary divided by
192 contract days
$308.63 daily rate of pay16
How to Calculate Wellness Pay
*Note: The formula will apply 192 days and 7.25 hours/day for those retiring prior to the start of the 2012-2013 school year; and the formula will apply 196 days and 7.5 hours/day for those retiring after the start of the 2012-2013 school year. 568 Balance of unused sick leave hours
+ 80 Plus CTT hours used 1994 through retirement 648 Total sick leave hours (568 + 80) 89 Divide by 7.25 to equal unused sick
leave days (648/7.25) 44.5 Divide by 2 to equal 50% of unused sick leave
days (89/2)$15,594.14 Multiply 50% of unused sick leave days by
daily rate of pay (44.5 X $350.43)- 3,275.20 Subtract CTT dollars paid 1994 through
retirement date$12,318.94 Total Wellness amount ($15,594 - $3,275.20)
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