Retiree Medical
The major benefit afforded to retirees is assistance with the cost of health insurance coverage.
Retiree Medical Eligible retirees who are under the age of 65 are covered through plans that are parallel to the college’s plans for active employees. Currently, those include a traditional PPO plan and a High Deductible plan (The college does not make a contribution to health savings accounts for retirees or spouses.) Eligible employees who are 65 or older are covered through a Medigap plan that is secondary to Medicare, thus all retirees 65 and older are required to be registered in Medicare in order to participate in the college’s Retiree Medical benefit.
This Retiree Medical benefit plan does not include coverage for dental or vision benefits.
Retiree Medical 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. For purposes of this benefit, full-time employment means working in a position budgeted for at least 40 hours per week year-round (i.e. positions budgeted for at least 1950 hours per year).
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. The employee must elect to begin Retiree Medical coverage immediately upon retirement. If an employee does not elect to begin Retiree Medical coverage immediately after retirement, he or she loses any eligibility for coverage under the plan.
An employee may cover through the Retiree Medical plan the spouse to whom the employee is married at the time of retirement. An eligible spouse may enroll in the plan upon the Davidson College employee’s retirement, or, if the spouse retires later than the Davidson College employee, within 60 days of the spouse’s own subsequent retirement from his or her employer. A spouse whom the employee marries after the employee’s retirement from Davidson College is not eligible for coverage under this plan.
Davidson Retiree Medical insurance is available only for eligible retirees and spouses. Coverage under this benefit is not available for dependent children.
Termination of Coverage
Coverage under the Davidson College Retiree Medical benefit for a Davidson College retiree will terminate when the retiree fails to pay premiums, when the retiree voluntarily withdraws from coverage, or when the retiree dies.
If the retiree dies before the spouse, coverage for the spouse will continue.
Coverage for a spouse of a Davidson College retiree will terminate when the retiree and spouse divorce when the spouse voluntarily withdraws from coverage, when the spouse’s premiums are unpaid, or when the spouse dies.
A retiree or spouse covered on the plan cannot leave and come back into the plan. Once coverage under this benefit ends for a retiree or spouse for any reason, that person is no longer eligible for coverage under the plan.
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.
Pre-65 Rate Calculation
| Years of Continuous Full-Time Service | Cost of Coverage |
|---|---|
| Less than 10 years | No Coverage Available |
| At least 10 but less than 20 years | Twice active employee rate plus excess cost above college contribution |
| At least 20 years | Active 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.
2024 Rates
Under 65 Retirees, Blue Options - Broad Network PPO
| Plan Type | 10-20 Years of Service | Over 20 Years of Service |
|---|---|---|
| Employee Only | $663.77 | $663.77 |
| Employee + Spouse | $1,635,31 | $1,635.31 |
Under 65 Retirees, Blue Options - High Deductible Health Plan (HDHP) $3,200
| Plan Type | 10-20 Years of Service | Over 20 Years of Service |
|---|---|---|
| Employee Only | $209.85 | $209.85 |
| Employee + Spouse | $624.17 | $624.17 |
Under 65 Retirees, Blue Options - High Deductible Health Plan (HDHP) $1,600
| Plan Type | 10-20 Years of Service | Over 20 Years of Service |
|---|---|---|
| Employee Only | $233.47 | $233.47 |
| Employee + Spouse | $688.63 | $688.63 |
One Spouse Over, One Spouse Under 65
| Plan Type | 10-20 Years of Service | Over 20 Years of Service |
|---|---|---|
| Blue Options - Broad Network PPO (Employee + Spouse) |
$1,079.62 | $809.53 |
| Blue Options High Deductible Health Plan (HDHP) $1,500 (Employee + Spouse) |
$761.49 | $358.24 |
| Blue Options High Deductible Health Plan (HDHP) $2,800 (Employee + Spouse) |
$735.38 | $379.23 |
Medicare Supplement Plan for Retiree Age 65 - Amwins
| Plan Type | 10-20 Years of Service | Over 20 Years of Service |
|---|---|---|
| Employee Only | $144.30 | $72.15 |
| Employee + Spouse | $577.22 | $288.61 |
Please note: The college does not make a contribution to health savings accounts for retirees.
The following rates and plan information relates to 2023 health plans. Benefits and rates listed here expire Dec. 20, 2023.
2023 Rates
Under 65 Retirees, Blue Options - Broad Network PPO
| Plan Type | 10-20 Years of Service | Over 20 Years of Service |
|---|---|---|
| Employee Only | $629.07 | $629.07 |
| Employee + Spouse | $1,558.96 | $1,558.96 |
Under 65 Retirees, Blue Options - High Deductible Health Plan (HDHP) $3,000
| Plan Type | 10-20 Years of Service | Over 20 Years of Service |
|---|---|---|
| Employee Only | $172.85 | $172.85 |
| Employee + Spouse | $542.76 | 542.76 |
Under 65 Retirees, Blue Options - High Deductible Health Plan (HDHP) $1,500
| Plan Type | 10-20 Years of Service | Over 20 Years of Service |
|---|---|---|
| Employee Only | $189.72 | $189,72 |
| Employee + Spouse | $592.38 | $592.38 |
One Spouse Over, One Spouse Under 65
| Plan Type | 10-20 Years of Service | Over 20 Years of Service |
|---|---|---|
| Blue Options - Broad Network PPO (Employee + Spouse) |
$1,046.47 | $768.09 |
| Blue Options High Deductible Health Plan (HDHP) $1,500 (Employee + Spouse) |
$681.50 | $340.75 |
| Blue Options High Deductible Health Plan (HDHP) $3,000 (Employee + Spouse) |
$694.99 | $347.50 |
Medicare Supplement Plan for Retiree Age 65 - Amwins
| Plan Type | 10-20 Years of Service | Over 20 Years of Service |
|---|---|---|
| Employee Only | $141.61 | $70.80 |
| Employee + Spouse | $566.43 | $283.22 |
Please note: The college does not make a contribution to health savings accounts for retirees.
Contacts
- AMWINS (Administrator for Retirees OVER 65) Vendor Information
888-883-3757 - Transamerica (Insurance provider for Retirees OVER 65)
800-854-0186 - Express Scripts (Retiree Prescription Plan)
888-345-2560 - Blue Cross Blue Shield
Effective January 1, 2022
877-224-3305 - Plan Administrator
Davidson College
Updated 12-2022