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If you’re thinking about retiring soon, here’s information you need to know about your benefits.
Important Dates
For most retiree plans, you will have 60 days from the date your group coverage ends to enroll in or convert coverage in several plans.
The date your group coverage ends is based on your termination date – the date when you leave state service – along with the number of hours you’re paid for that month.
Example: If you have 80 paid hours in June, your group coverage ends on July 31, because you worked enough hours that month to have your July premium covered. If you have less than 80 paid hours in June, your coverage ends on June 30.
Health Insurance
If you retire from state service before you are eligible for Medicare, you can continue medical and/or dental plan coverage for you and your eligible dependents through PEBB’s retiree program. To be eligible, you must:
- Be eligible to receive retirement benefits under PERS rules
- Be currently enrolled in a PEBB medical and/or dental plan (or currently opting out of medical coverage)
- Ensure that PEBB receives your Retiree Medical and Dental Plan Enrollment Form within 60 days of the date your active group coverage ends. For eligibility details, go online to PEBB's Administrative Rules.
As a retiree, you may enroll in any lower-cost, lower-benefit plans (Part-time and Retiree plans) offered in your region of the state. You can also enroll in any of the higher-cost, higher-benefit plans available to full-time employees in your region.
Optional Benefits
Within 60 days of when your group coverage ends, you can:
- Continue up to 50 percent of the value of your employee life insurance without review of your medical history statement
- Convert your spouse and/or dependent life insurance to individual policies
- Convert your life and/or long-term care insurance to individual policies
- Roll over your life and/or long-term care insurance premiums to your spouse or domestic partner’s payroll deduction if the spouse or partner works for the state
As a retiree, you will not be able to continue disability or AD&D insurance.
Your PEBB Benefits Handbook includes retiree rates for medical and dental plans, along with plan descriptions and comparisons. If you have additional questions, e-mail inquries.pebb@state.or.us. Or call PEBB at (503) 378-1102 in Salem or (800) 788-0520 statewide.
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