Changes Coming to Retiree Medical Benefits

| December 19, 2013

When Webster’s early (pre-65) retiree medical plan was first implemented, few options were available on the market. However, the University’s comprehensive benefits package, including health, wellness, paid time off and retirement benefits, has remained industry competitive. With the implementation of the Affordable Care Act, many options are now available, and Webster, like other universities, must update the early retiree medical benefits accordingly.

Following June 1, 2014, the pre-65 retiree medical benefit offerings will be amended such that new retirees under the age of 65 will pay 100 percent of individual and dependent medical, dental and vision coverage cost. (Under the current plan, depending on an employee’s age and length of service, Webster pays a portion of the monthly premium.)

Current long-time and benefits-eligible employees (at least 55 years old with a minimum of 15 years of service with Webster) are encouraged to consider early retirement in order to take advantage of the current retirement benefits, by June 1, 2014. These enhanced benefits include continued participation by their current medical contribution methods, with the University sharing in the cost until age 65.

This important change is being announced now, since to take advantage of this benefits package, retirement must occur prior to June 1, 2014.

Reviewing Your Options

Click here to view a summary of the Current and Revised early retirement benefits [PDF].

Retiree benefits for those 65 and older are not changing at this time.

To discuss this opportunity, contact Margie Prader in Human Resources, 314-246-4252 or mprader57@webster.edu.

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