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RetireesEmployees planning to retire are urged to provide written notice of their intent at least two weeks prior to the date of termination. Discuss retirement options with a representative of Human Resources and/or TIAA-CREF. Eligibility
Benefits: Health, Prescription, Dental, Vision
Health Benefits - MD Plans , NY Plans UNDER AGE 65 retirees and their dependent(s) are entitled
to health insurance through AIP.
The maximum cumulative benefit under Aetna "Under 65" plans is $1,000,000. (AIP offers a Medicare supplement medical plan to retirees and their spouses over age 65, with a cumulative maximum of $100,000 in premiums.) NEW YORK PLANS (includes NJ and CT)
The maximum cumulative benefit under Aetna's "Under 65" plans for the PPO, POS and HMO is Unlimited. (AIP offers a Medicare supplement medical plan to retirees over age 65, with a cumulative maximum of $100,000 in AIP contributions to premiums.) (Benefits and rates subject to change each calendar year.) *Please note: If a retiree moves out of state, it is possible that HIP and/or the Aetna POS plan do not offer a network in that state or that particular area. If this results, the retiree will have to enroll in the Aetna PPO plan. Prescription DrugsPrescription drugs are covered.Aetna Pharmacy Management Service & mail-order prescriptions - this prescription drug program is designed mainly for individuals using maintenance types of medication(s) for the treatment of chronic or long-term conditions such as, but not limited to, diabetes, arthritis, heart conditions and high blood pressure - for periods of 30 days or longer. There is a $30/$50/$80 (generic/brand/non-formulary) charge for this service. Please check the formulary list (posted on the website at www.aetna.com) whenever you change medications. Please also note that this prescription plan is considered to be a better prescription drug plan than the Medicare D prescription drug plan. Medicare encourages anyone with access to a plan such as this AIP plan to choose the AIP plan, rather than choosing Medicare D. COBRA (Continuation of Benefits - for up to 18 months after retirement) COBRA benefits must be elected within 60 days following loss of coverage as an active employee. See the COBRA paperwork mailed to your home at the time of your retirement for more details. Dental BenefitsThe Aetna retiree health plan does not offer any dental coverage. The retiree has the option of electing COBRA (continuation of benefits) for a maximum of 18 months from their retirement date. AIP's Year 2011 monthly dental premium is as follows:
Vision BenefitsAetna does not offer any vision coverage. VSP - The retiree has the option of COBRA (continuation of benefits) for a maximum of 18 months from their retirement date. AIP's Year 2011 monthly vision premium is as follows: Vision Service Plan:
(Benefits and rates subject to change each calendar year.)
The Institute has the right, with or without notice, in an individual case or generally, to change or terminate any of its benefits at any time. We will attempt to keep you up to date regarding changes that affect you. For information regarding Medicare, Medicaid, and/or TIAA-CREF retirement contact:
Contact Human Resources for benefit booklets and questions. Benefits: Health, Prescription, Dental, Vision
Health BenefitsAt age 65, retirees are offered:Aetna
AIP offers a Medicare supplement medical plan to retirees over age 65, with a cumulative maximum of $100,000 in premiums. Aetna becomes the retiree's secondary medical coverage and Medicare becomes the retiree's primary medical coverage. (Benefits and rates subject to change each calendar year.) Prescription DrugsPrescription drugs are covered.Aetna Pharmacy Management Service — mail-order prescriptions - this prescription drug program is designed mainly for individuals using maintenance types of medication(s) for the treatment of chronic or long-term conditions such as, but not limited to, diabetes, arthritis, heart conditions and high blood pressure - for periods of 30 days or longer. There is a $30/$50/$80 (generic/brand/non-formulary) charge for this service. Please check the formulary list (posted on the website at www.aetna.com) whenever you change medications. Please also note that this prescription plan is considered to be a better prescription drug plan than the Medicare D prescription drug plan. Medicare encourages anyone with access to a plan such as this AIP plan to choose the AIP plan, rather than choosing Medicare D. COBRA (Continuation of Benefits - for up to 18 months after retirement) - COBRA benefits must be elected within 60 days following loss of coverage as an active employee. See the COBRA paperwork mailed to your home at the time of your retirement for more details. Dental BenefitsThe Aetna retiree health plan does not offer any dental coverage. The retiree has the option of electing COBRA (continuation of benefits) for a maximum of 18 months from their retirement date. AIP's Year 2011 monthly dental premium is as follows:
Vision BenefitsAetna does not offer any vision coverage. VSP - The retiree has the option of COBRA (continuation of benefits) for a maximum of 18 months from their retirement date. AIP's Year 2011 monthly vision premium is as follows:
(Benefits and rates subject to change each calendar year.) The Institute has the right, with or without notice, in an individual case or generally, to change or terminate any of its benefits at any time. We will attempt to keep you up to date regarding changes that affect you. For information regarding Medicare, Medicaid and/or TIAA-CREF retirement contact:
Contact Human Resources for benefit booklets and questions. |
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