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Thursday, April 24, 2014

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Retiree open enrollment ends Nov. 9

The University's 2013 retiree annual benefits open enrollment period began on Monday, Oct. 1, and ends on Friday, Nov. 9, with changes effective Jan. 1, 2013. Due to changes in the benefits being offered to both pre- and post-65 retirees, we are extending the retiree open enrollment period from two to six weeks to allow for more time to review the plan changes and make decisions on coverage.

During this time, retirees may change or waive their health plan coverage as well as remove dependents from their retiree medical plan. Re-enrollment at a later date is not permitted.

Retirees should have received the open enrollment information in the mail. Information is also available on the Web.

For pre-65 retirees, the preferred provider organization (PPO) and point of service (POS) health plans have been consolidated into a new plan called the Princeton Health Plan (PHP). The new PHP will be offered through both Aetna and United Healthcare. Retirees who are currently enrolled in the PPO or POS plan and do not make an election will be automatically enrolled with their current network provider. The PHP and Aetna HMO plans will provide 100 percent coverage for preventive services in 2013.

For post-65 retirees, medical-eligible dependents and long-term disability participants, Princeton will automatically enroll these individuals onto a Medicare Part D Employer Group Waiver Plan (EGWP). The Princeton prescription drug plan that participants are currently enrolled under will provide secondary coverage to the Medicare Part D plan. Therefore, the coverage for participants will remain the same. Retirees will have the option to opt out of the prescription drug plan; however, those who do will no longer have a prescription drug plan through the University.

All pre-65 retirees and retirees enrolled under the Premium, Standard or Princeton Medicare Plan have the option of electing to enroll in a vision plan.

Anyone with questions may contact the Human Resources Benefits Team at 609-258-3302 or benefits@princeton.edu.

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