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Frequently Asked Benefits Questions for Retired Employees

Who is eligible for retiree benefits?

Active, benefit-eligible faculty and staff members age 50 or older with 5 or more years of continuous, benefit-eligible service.

What benefits are retirees eligible for?

An eligible retiree may choose to continue group medical coverage and group term life insurance through the Loyola University medical  & life insurance plans, provided coverage was in effect immediately prior to retirement. 

When do retiree benefits begin?

Retiree Benefits begin immediately after active employee benefits end. There is no break in coverage. An eligible retiree will have 30 days from the date of retirement to elect retiree benefits.

For example, a staff or faculty member, enrolled in the Basic medical plan, will retire at the end of the academic year in mid-May. Their active, employee medical coverage and University life insurance will end on May 31. Their retiree coverage, if elected, would begin on June 1.

Whose coverage may be continued with retiree medical coverage?

A retiree may continue their coverage and coverage for their eligible dependents who are covered on their date of retirement.

Whose coverage may be continued with retiree life insurance coverage?

A retiree may continue up to $25,000 of their coverage and up to $5,000 of their eligible spouse's coverage, if their spouse was covered on the retiree's date of retirement. Age reductions will apply.

What are the premiums for retiree benefits?

Retirees pay 100% of the premium for medical and life insurance. A cost summary for retiree benefits may be found in the annual Benefits Guide on the Benefits webpage and in the annual Separation Summary posted at the bottom of the Benefits Forms and Links webpage.

When can a retiree change options?

Changes can be made each year during Open Enrollment normally held in November. A notice is sent out to all participating retirees detailing any changes in coverage and premiums for the upcoming calendar year.

How long are retiree benefits available?

Generally, retiree benefits may continue for as long as the retiree continues to pay the premium for the coverage. Once coverage ends, either by cancellation or failure to pay the premium, coverage cannot be reinstated.

Although Loyola University expects to continue these benefits indefinitely, the benefits may be terminated, suspended, withdrawn or modified at any time relative to the coverage provision or premium arrangement applicable to retiree benefits. 

For Retirees becoming Medicare eligible:

If a retiree is continuing Loyola retiree coverage after becoming Medicare eligible, a copy of the Medicare ID card must be sent to Loyola University New Orleans Human Resources Department, prior to the month in which Medicare coverage will begin.

A premium reduction applies to retiree coverage when combined with Medicare. The premium reduction cannot be applied until a copy of the retiree and/or dependent spouse's Medicare ID card is received. If the Medicare ID card is received late, the premium reduction will be applied beginning on the month after the date the Medicare ID is received. Medicare premium reductions cannot be applied retroactively.

Medicare Information

For information regarding Medicare coverage and cost, you may visit the Social Security Administration website, http://www.ssa.gov/ or call 800-772-1213 or visit the Medicare website, http://medicare.gov/ or call 800-633-4227.

 
For premium payment information or issues, retirees may call:

WageWorks

Website: https://mybenefits.wageworks.com/  

Customer Service: (877) 722-2667

For medical claims issues, retirees may call:

UnitedHealthCare 

Group No. 0903297

Customer Service: (855) 293-8546

For life insurance claims, retirees may call:

Loyola University New Orleans, Human Resources: 504-864-7757, ask to speak with a Benefits Specialist.