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Retiree Medical

The major benefit afforded to retirees is partial payment of health insurance coverage cost. Davidson retiree medical insurance is not available for dependent children.

Retiree Health Insurance Costs

The cost the retiree pays for health insurance is based on years of continuous college service at retirement. This cost is not frozen and changes in accordance with insurance rates. Effective January 1, 2010, the college's contribution to retiree health insurance is capped at a fixed amount of $325 per month for single coverage and $540 per month for retiree and spouse. No family coverage is available through the college's retiree medical plan.

Eligibility

Davidson College's Retiree Medical benefit is only available to employees whose first day at work in a full-time, regular position at Davidson College was before or on October 1, 2016. No retiree medical benefit is provided for employees hired after October 1, 2016, or for employees hired earlier who were not in full-time, regular positions by October 1, 2016.

Employees who are age 60 or older and have at least 10 years of continuous full-time college service preceding their retirement date are eligible to retire from Davidson College and participate in the retiree medical coverage.

Note: An employee must be enrolled in an active Davidson College medical plan immediately preceding his/her retirement in order to be eligible for coverage under the retiree medical plan.

Grandfathering Information

Current employees who were qualified to retire or close to qualification for retirement when the plan was changed (prior to July 1, 2010) were grandfathered in the following manner:

  • Employees who are 55 years of age and have at least 10 years of service by July 1, 2010, may retire from the college with retiree healthcare benefits at any time. The new guidelines will not affect these employees.
  • Employees who are 54 years of age by July 1, 2010, may retire from the college with retiree healthcare benefits at age 56 if they then have 10 years of service.
  • Employees who are 53 years of age by July 1, 2010, may retire from the college with retiree healthcare benefits at age 57 if they then have 10 years of service.
  • Employees who are 52 years of age by July 1, 2010, may retire from the college with retiree healthcare benefits at age 58 if they then have 10 years of service.
  • Employees who are 51 years of age by July 1, 2010, may retire from the college with retiree healthcare benefits at age 59 if they have 10 years of service.

Pre-65 Rate Calculation

Years of Service
Cost of Coverage
Less than 10 years No Coverage Available
10 but less than 20 years Twice employee rate plus excess cost above college contribution
20 years Employee rate plus excess cost above college contribution

Note: The sliding scale above is not applicable to a regular full time employee whose age was 60 or above on January 1, 1996. Those employees may retire with the health insurance premium frozen at the rate paid on the retirement date.

2017 Rates - Open Access Plan

Under 65 Retirees Open Access Plan

 
10-20 Years of Service
Over 20 Years of Service
Employee Only $532.71 $532.71
Employee + Spouse $1,698.26 $1,346.95

Over 65 Retirees Open Access Plan

 
10-20 Years of Service
Over 20 Years of Service
Employee Only $126.12 $63.06
Employee + Spouse $504.48 $252.24

One Spouse Over, One Spouse Under 65 Open Access Plan

 
10-20 Years of Service
Over 20 Years of Service
Employee + Spouse $938.41 $633.01

2017 Rates - High Deductible OAP

Please note: The college does not make a contribution to a health savings account for retirees.

Under 65 Retirees High Deductible

 
10-20 Years of Service
Over 20 Years of Service
Employee Only $110.00 $55.00
Employee + Spouse $614.65 $307.32

One Spouse Over, One Spouse Under 65 High Deductible

 
10-20 Years of Service
Over 20 Years of Service
Employee + Spouse $526.82 $264.68

Vendor Information

AMWINS (Administrator for Retirees OVER 65)
888-883-3757

Transamerica (Insurance provider for Retirees OVER 65)
800-854-0186

Generation RX (Retiree Prescription Plan)
877-633-7943

United Health Care (For Retirees UNDER 65)
877-842-3210

Plan Administrator: Davidson College

Documents and Forms

Additional Information