Benefits FAQs: Purchase College Blurbs https://www.purchase.edu/live/rss/blurbs/header/Benefits%20FAQs%3A/header_block/h2/tag/Retiree%20Frequently%20Asked%20Questions/max/15/type/FAQs/group/Offices%3A%20Human%20Resources/clean_markup/true/format_widget/%7Bwidget%7D/slideshow/true/class/has-scroll blurbs en-us 60 LiveWhale 2.21.0 Do I have to meet with someone from the Benefits Office when I am ready to retire? Yes, you must call the Benefits Office at (914) 251-6448 to make an appointment.

At your appointment, you will receive information and instructions about your retiree benefits as well as the required forms that must be completed in order to continue your health insurance /prescription drug benefits in retirement.

]]> Tue, 24 Nov 2020 00:00:00 -0500 https://www.purchase.edu/live/blurbs/2754-do-i-have-to-meet-with-someone-from-the-benefits#2754 blurbs 2754 Benefits FAQs: How do I start collecting my pension? You will need to contact your retirement plan directly. We suggest you meet with them within 30 days of your anticipated retirement date.

Contact Information for Each Retirement Plan

]]> Mon, 23 Nov 2020 00:00:00 -0500 https://www.purchase.edu/live/blurbs/2755-how-do-i-start-collecting-my-pension#2755 blurbs 2755 Benefits FAQs: Will my health insurance coverage continue in retirement? Yes, the health insurance and prescription drug coverage that you are enrolled in as an active employee will continue into retirement if you meet the eligibility requirements. You may also continue to cover eligible dependents under your family coverage.

]]> Sun, 22 Nov 2020 00:00:00 -0500 https://www.purchase.edu/live/blurbs/2756-will-my-health-insurance-coverage-continue-in#2756 blurbs 2756 Benefits FAQs: What are the eligibility requirements for continuing health insurance/prescription drug coverage in retirement?

  • You must be 55 years of age or older at retirement.

  • At retirement, you must have ten or more years of service in a position eligible for health insurance with SUNY or a participating agency.

  • You must be participating in a health insurance plan immediately preceding your retirement date.

    • ]]>     Sat, 21 Nov 2020 00:00:00 -0500 https://www.purchase.edu/live/blurbs/2757-what-are-the-eligibility-requirements-for#2757 blurbs 2757 Benefits FAQs:     Will my dental and vision care benefits continue in retirement? The dental and vision care coverage you receive as an active employee will not continue into retirement. Some unions provide a retiree dental/vision care plan; please contact your union for that information.

    However, all retirees will be offered the opportunity to enroll in the GHI Retiree Dental Plan. This information will be sent automatically to your home address of record after your retirement date.

    ]]>     Fri, 20 Nov 2020 00:00:00 -0500 https://www.purchase.edu/live/blurbs/2758-will-my-dental-and-vision-care-benefits-continue#2758 blurbs 2758 Benefits FAQs:     Will I receive a new health insurance identification card after I retire? If you are a CSEA, NYSCOPBA, or C82 represented employee, your Empire Plan co-pay will increase when you retire. You will receive a new card indicating this increased co-pay.

    ]]>     Thu, 19 Nov 2020 00:00:00 -0500 https://www.purchase.edu/live/blurbs/2759-will-i-receive-a-new-health-insurance#2759 blurbs 2759 Benefits FAQs:     Who do I contact with questions about my health insurance/prescription drug coverage after I retire? After retirement, the New York State Department of Civil Service, Employee Benefits Division, in Albany will be responsible for any questions or changes in your coverage.

    They can be reached at (518) 457-5754 or (800) 833-4344.

    ]]>     Wed, 18 Nov 2020 00:00:00 -0500 https://www.purchase.edu/live/blurbs/2760-who-do-i-contact-with-questions-about-my-health#2760 blurbs 2760 Benefits FAQs:     What is the cost of health insurance/prescription drug coverage in retirement? The cost of coverage changes each year on January 1. However, the state continues to pay 75% of the full cost for family coverage and 90% of the full cost for individual coverage.

    To learn the current monthly premiums for retiree coverage, please visit the New York State website and look under the retiree section.

    ]]>     Tue, 17 Nov 2020 00:00:00 -0500 https://www.purchase.edu/live/blurbs/2761-what-is-the-cost-of-health-insuranceprescription#2761 blurbs 2761 Benefits FAQs:     How will I pay for my retiree health insurance/prescription drug coverage? At retirement, up to 200 days of your unused sick leave accruals will be converted to a monthly lifetime credit and used to offset the cost of the coverage.

    You will pay for your coverage only if the premium exceeds your monthly lifetime credit. In that case, you will pay the difference between your monthly lifetime credit and the premium.

    ]]>     Mon, 16 Nov 2020 00:00:00 -0500 https://www.purchase.edu/live/blurbs/2762-how-will-i-pay-for-my-retiree-health#2762 blurbs 2762 Benefits FAQs:     How is the monthly lifetime credit calculated? The monthly lifetime credit is calculated using a formula that includes the number of your accrued sick leave days, your salary, your age, and an actuarial table.

    ]]>     Sun, 15 Nov 2020 00:00:00 -0500 https://www.purchase.edu/live/blurbs/2763-how-is-the-monthly-lifetime-credit-calculated#2763 blurbs 2763 Benefits FAQs:     How will I pay for my retiree health insurance/prescription drug coverage if my monthly credit does not cover the full cost of the monthly premium? If you are a retiree of one of the state retirement plans, the difference in cost will be deducted each month from your pension check.

    If you are a retiree of the ORP, you will receive a bill for the difference in cost from the Division of Employee Benefits on a quarterly basis.

    ]]>     Sat, 14 Nov 2020 00:00:00 -0500 https://www.purchase.edu/live/blurbs/2764-how-will-i-pay-for-my-retiree-health#2764 blurbs 2764 Benefits FAQs:     If I predecease my covered spouse after retirement, can my spouse continue health insurance coverage under my plan? Yes, as long as your spouse remains un-remarried, coverage can continue under your plan. Your spouse will be required to contact the Division of Employee Benefits for the necessary details.

    ]]>     Fri, 13 Nov 2020 00:00:00 -0500 https://www.purchase.edu/live/blurbs/2765-if-i-predecease-my-covered-spouse-after-retirement#2765 blurbs 2765 Benefits FAQs:     How will my covered spouse pay for the retiree health insurance coverage after my death? At retirement, you may specify that you want your surviving spouse to use your monthly lifetime credit to offset the cost of the survivor health insurance premium. This is called the Dual Annuitant Sick Leave Credit, the form needs to be completed and handed in prior to the retirement date.

    • If, at retirement, you choose to use 70% of your monthly lifetime credit, your surviving spouse will continue to use the same 70% monthly lifetime credit to offset the cost of their premium.

    • If, at retirement, you choose to use 100% of your monthly lifetime credit, the credit will stop upon your death and your surviving spouse will pay the individual premium in effect at the time.

    ]]>     Thu, 12 Nov 2020 00:00:00 -0500 https://www.purchase.edu/live/blurbs/2766-how-will-my-covered-spouse-pay-for-the-retiree#2766 blurbs 2766 Benefits FAQs:     Can I change my health insurance plan after retirement? Yes, you can change your plan once during any twelve month period by contacting the Division of Employee Benefits at (800) 833-4344.

    ]]>     Wed, 11 Nov 2020 00:00:00 -0500 https://www.purchase.edu/live/blurbs/2767-can-i-change-my-health-insurance-plan-after#2767 blurbs 2767 Benefits FAQs:     Does my retiree health insurance coverage change when I, or my covered dependent, reaches age 65? Yes, when you and/or your covered dependent reach age 65, you must apply for Medicare B, which will become your primary health insurance coverage.

    Your state health insurance plan will be your secondary coverage.

    ]]>     Tue, 10 Nov 2020 00:00:00 -0500 https://www.purchase.edu/live/blurbs/2768-does-my-retiree-health-insurance-coverage-change#2768 blurbs 2768 Benefits FAQs: