Human Resources: Benefits and Retirement
Preparing For Retirement: Your Blueprint for Success
OEBB Early Retiree Resource Brochure
Make sure you are enrolled in the medical, dental and/or vision plans you want when you retire. Retirement is not considered a Qualified Status Change (QSC) so you cannot add or change plans at the time of retirement. You can change plans if there are other plans available to you during the annual open enrollment period, but you will not be able to add any type of benefit plan in which you were not previously enrolled. The only exception would be if, as an active employee, you waived or opted-out of OEBB medical coverage because you were covered on another medical plan available through OEBB or on another school district plan. Under these circumstances, you will be allowed to enroll in an OEBB Early Retiree medical plan if you lose coverage under your spouse/domestic partner’s medical plan and you request to add the coverage within 31 days of losing that other qualified coverage.
You can make certain changes to your optional coverages, such as life or AD&D, at the time of retirement. You can maintain, decrease, or cancel these coverages. You cannot increase any optional life or AD&D coverage at the time of retirement or during future open enrollment periods as a retiree.
Make sure you are covering any eligible dependents you will want to continue covering on your medical, dental, and/or vision plans as an retiree. You won’t be able to add dependents during open enrollment periods once you have retired. You can only add dependents if there is a qualifying event.
Ready To Retire
Notify your employing entity at least six weeks before your retirement date whether you intend to continue your enrollment in OEBB plans as an Early Retiree. If you decide not to continue any OEBB benefits upon retiring, you will not be able to enroll in these plans at a future date.
If you choose not to enroll in Early Retiree plans, or waive some or all coverage at retirement, you will not be able to add that coverage back during future open enrollment periods. However, if you “opted out” because you have other OEBB-sponsored group coverage through a spouse or domestic partner and then lose that coverage, this would be a valid Qualified Status Change (QSC) event allowing you to add the coverage if you notify your employing entity within 31 days of the qualifying event.
OEBB administers the benefits for NWRESD Early Retirees. Those that intend to continue enrollment in their current plan will need to complete a Self-Pay Early Retiree ACH Enrollment Form and send it directly to OEBB.
COBRA coverage is available to retirees in lieu of OEBB Early Retiree plans. COBRA coverage is available for up to 18 months from the date your coverage ends as an active employee. There is a two percent administrative fee for coverages continued under COBRA. All continuous coverage requirements and change limitations that apply to moving from active employee coverage to Early Retiree coverage also apply to moving from coverage continued under COBRA to Early Retiree coverage.
If you choose not to enroll in Early Retiree plans, or waive some or all coverage at retirement, you will not be able to add that coverage back during future open enrollment periods. However, if you “opted out” because you have other OEBB-sponsored group coverage through a spouse or domestic partner and then lose that coverage, this would be a valid Qualified Status Change (QSC) event allowing you to add the coverage if you notify your employing entity within 31 days of the qualifying event.
OEBB administers the benefits for NWRESD Early Retirees. Those that intend to continue enrollment in their current plan will need to complete a Self-Pay Early Retiree ACH Enrollment Form and send it directly to OEBB.
COBRA coverage is available to retirees in lieu of OEBB Early Retiree plans. COBRA coverage is available for up to 18 months from the date your coverage ends as an active employee. There is a two percent administrative fee for coverages continued under COBRA. All continuous coverage requirements and change limitations that apply to moving from active employee coverage to Early Retiree coverage also apply to moving from coverage continued under COBRA to Early Retiree coverage.
Becoming Eligible For Medicare
You become eligible for Medicare on the first of the month prior to your 65th birthday. If your birthday is on the first day of a month, you become Medicare-eligible a full month prior to turning age 65. You can also become eligible for Medicare due to disability at any age.
Early Retirees and eligible dependents of Early Retirees can continue OEBB coverage until the date they become Medicare-eligible. Once an Early Retiree or eligible dependent becomes Medicare-eligible due to age or disability, the OEBB coverage must end. Early retirees must notify their employing entity as soon as possible if they or a dependent become Medicare-eligible due to disability.
The only exception is if the individual (Early Retiree or dependent) becomes eligible for Medicare due to End Stage Renal Disease (ESRD). Coverage can be continued for 30 months.
You can enroll in Medicare up to three months in advance of becoming eligible. Failure to enroll in a timely manner may result in future penalties. Go to http://www.medicare.gov/ for more information about Medicare.
Medicare-eligible members may elect to continue dental coverage only. Continuation of medical, pharmacy, vision, life and/or AD&D coverage is not allowed. In addition, at the time the retiree turns 65 and loses eligibility for life and AD&D coverage, dependents of the retiree can no longer continue on the group life and/or AD&D coverage through OEBB. Many of these coverages can be converted or ported when OEBB coverage ends. You should contact The Standard directly for more information on these options.
Early Retirees and eligible dependents of Early Retirees can continue OEBB coverage until the date they become Medicare-eligible. Once an Early Retiree or eligible dependent becomes Medicare-eligible due to age or disability, the OEBB coverage must end. Early retirees must notify their employing entity as soon as possible if they or a dependent become Medicare-eligible due to disability.
The only exception is if the individual (Early Retiree or dependent) becomes eligible for Medicare due to End Stage Renal Disease (ESRD). Coverage can be continued for 30 months.
You can enroll in Medicare up to three months in advance of becoming eligible. Failure to enroll in a timely manner may result in future penalties. Go to http://www.medicare.gov/ for more information about Medicare.
Medicare-eligible members may elect to continue dental coverage only. Continuation of medical, pharmacy, vision, life and/or AD&D coverage is not allowed. In addition, at the time the retiree turns 65 and loses eligibility for life and AD&D coverage, dependents of the retiree can no longer continue on the group life and/or AD&D coverage through OEBB. Many of these coverages can be converted or ported when OEBB coverage ends. You should contact The Standard directly for more information on these options.
Medicare Enrollment Resources
You can enroll in Medicare up to three months in advance. The Senior Health Insurance Benefits Assistance (SHIBA) Program was created to assist with Medicare and Medicare plan selection questions. The SHIBA website is full of helpful Medicare information and certified counselors are available by phone at 1-800-722-4134.
- Medicare website: http://medicare.gov/
- Medicare questions and plan selection assistance: www.oregonshiba.org
- PERS Health Insurance Program (PERS offers Retiree and Medicare Plans): https://www.pershealth.com/
