SPEC Kit 320: Core Benefits · 33
For Medicare eligible retirees, their premiums can be reduced by a state-funded contribution up to $182.89.
Health benefits only with 25 continuous years of service and 55 years of age.
In order to be eligible for the OPERS health care plan, retirees must have a minimum of 10 years of qualifying service
credit and retire from either the Traditional Pension Plan or the Combined Plan. OPERS offers medical/pharmacy
coverage for retirees and their eligible dependents. Your monthly cost for medical/pharmacy coverage depends upon
your Medicare status, your years of service credit at retirement, and your choice of plan level if not yet eligible for
Medicare. We also offer optional dental and vision coverage at an additional cost.
N/A in Canadian context.
Retirees receive health insurance independent of the defined benefit retirement plan.
Retirees who elect an immediate monthly pension benefit retain extended health care benefits including surviving
spouse benefit for life. The university pays 100% of costs (pro-rated if employee was part-time prior to retirement).
Lifetime maximums in place for individuals residing in Canada, but outside Ontario. No health benefits if retiree resides
outside Canada.
State Health Plan coverage continues for retirees and covered dependents as if currently employed. Dependent
premiums are deducted from monthly retirement payments. The employer puts money into the retiree health plan for
all retirement participants. When an employee retires, he/she is eligible for health insurance. New regulations stipulate
that if the employee was hired after 10/01/2006, he/she must have a minimum of 20 years in the retirement system to
receive the employer-paid health insurance at retirement.
Subsidy is based on years of service after age 45.
Support staff have a bridge benefit subsidy to age 65, librarians do not. But librarians can opt for a coverage choice plan
with the university’s provider that provides three levels of health and dental coverage which combine for a total of 5
options. These plans are available to university staff when they leave employment coverage is guaranteed, no medical
evidence is required, subject to application being made within 60 days of ending of employee group coverage.
With 10 years of service employee at retirement would receive 50% of the offered subsidy. With each additional year of
service this increases 5% until with 20 years or more of service 100% of the subsidy would be granted.
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