Pers And Life Insurance: What's The Deal?

The Public Employees Retirement System (PERS) offers health insurance coverage for retirees and their spouses and dependents. PERS provides comprehensive, high-quality benefits at cost-effective rates, including prescription drug plans and long-term care coverage. While PERS does not pay for long-term care costs, it does offer retirees, spouses, and dependents long-term care insurance through the Unum Life Insurance Company of America. Additionally, PERS retirees can choose to continue participating in state-sponsored insurance plans or select PERS-sponsored group medical insurance plans.

PERS health insurance is available for eligible retirees, their spouses and dependents

The Public Employees Retirement System (PERS) provides health insurance coverage for eligible retirees and their spouses and dependents. This is known as the PERS Health Insurance Program (PHIP). PHIP offers both Medicare and non-Medicare plans, with comprehensive prescription drug benefit coverage.

PHIP contracts with four different health plan carriers, two dental carriers, and UNUM for long-term care coverage. All eligible PERS retirees, spouses, and dependents may apply for long-term care insurance through UNUM Life Insurance Company of America.

To be eligible for PERS health insurance, retirees must have at least 10 years of PERS pension credit. The PERS Retiree Handbook provides an overview of what being a retiree entails, including information on monthly benefit allocations, changing options after retirement, and planning for physical or mental incapacity.

It is important to note that PERS health insurance is not available in all locations, and prospective enrollees should review each health plan's service area before submitting their PHIP Enrollment Request Form.

PERS offers both Medicare and non-Medicare plans

The Public Employees Retirement System (PERS) offers health insurance coverage for eligible Oregon PERS retirees, their eligible spouses, and dependents. PERS Health Insurance Program (PHIP) offers both Medicare and non-Medicare plans.

Medicare Plans

PERS Medicare plans include Medicare Part D coverage. The PERS Health Insurance Program (PHIP) contracts with four different health plan carriers, two dental carriers, and UNUM for long-term care coverage. All PHIP medical plans include comprehensive prescription drug benefit coverage. When enrolling in a PHIP Medicare plan, you will automatically be enrolled in a Part D drug plan.

Non-Medicare Plans

PERS also offers non-Medicare plans for retirees and their families. There are two dental plans available: Delta Dental of Oregon and Kaiser Permanente dental. You can enroll in either dental plan regardless of your medical plan selection. However, PHIP does not offer standalone dental plans, so you must be enrolled in PHIP medical coverage to receive dental coverage. Additionally, if one member of the household chooses dental coverage, all members must receive it.

Eligibility and Enrollment

To be eligible for PERS health insurance coverage, you must be a PERS retiree or the spouse or dependent of a PERS retiree. You must also meet certain service requirements and be enrolled in a health plan to be eligible for dental coverage. Enrollment opportunities are available for those who are just retiring or are already PERS retirees.

PERS retirees can make changes to their personal information or health coverage after enrolling

The Public Employees Retirement System (PERS) provides retirees with health insurance coverage, including comprehensive health benefits, prescription drug plans, and dental plans. PERS retirees can make changes to their personal information or health coverage after enrolling, although there are certain opportunities to make specific changes.

PERS retirees can change their health plan, add or delete dependents, or cancel coverage during the annual Open Enrollment period in the fall. This is also a time when eligible dependents can be added. Open Enrollment for 2024 ended on October 11, 2024, with changes taking effect from January 1, 2025.

Additionally, retirees may have the option to make changes within 60 days of a qualifying status change. It is important to review all health coverage options when planning for retirement, as plans may vary by location and have specific requirements.

PERS Health Insurance Program (PHIP) offers both Medicare and Non-Medicare plans for eligible retirees, their spouses, and dependents. PHIP contracts with multiple health plan carriers, including two dental carriers, and also offers long-term care coverage through Unum Life Insurance Company of America. To be eligible for long-term care insurance, retirees must have at least 10 years of PERS pension credit.

PERS retirees can verify their benefits by contacting PERS customer service

The Public Employees' Retirement System (PERS) provides retirement benefits for eligible individuals who have worked in state government, public schools, universities, municipalities, and other public entities. PERS retirees can access a range of benefits, including health insurance, life insurance, and long-term care coverage.

To verify their benefits, PERS retirees can contact PERS customer service by phone or fax. When making a request, retirees should provide the following information:

• Retirement plan (PERS, SLRP, MHSPRS, or MRS)
• Last four digits of their Social Security number
• Contact telephone number
• Mailing address

PERS customer service can be reached at 800-444-7377 or 601-359-3589. The fax number is 601-359-6707. It is important to keep PERS updated with any changes to personal information, such as name, address, or beneficiary details, to ensure efficient service.

Additionally, PERS retirees can access resources like the PERS Retiree Handbook, which provides an overview of monthly benefit allocations, changing options after retirement, and other relevant information. PERS also offers online tools, such as the Member Benefits Online System (MBOS), where retirees can verify, update, or change their beneficiary information.

PERS offers a Retiree Handbook, which provides an overview of what being a retiree means

The Public Employees' Retirement System (PERS) offers a Retiree Handbook, which provides an overview of what being a retiree in the system means. The handbook is a comprehensive resource for retirees, covering various topics essential for this new phase of their lives.

One of the key aspects covered in the handbook is monthly benefit allocations. This includes information on the different types of benefits retirees are entitled to and how they are distributed. PERS retirees can also benefit from the PHIP (PERS Health Insurance Program), which offers comprehensive, high-quality benefits at cost-effective rates. PHIP provides both Medicare and non-Medicare plans for eligible retirees and their dependents, although the plans may not be available in all locations.

The handbook also addresses the important topic of changing options after retirement. It is understood that circumstances can change, and retirees may need to make adjustments to their plans. Additionally, the handbook offers guidance on planning for physical or mental incapacity, a crucial aspect of retirement that often requires careful consideration.

Another valuable feature of the Retiree Handbook is the information it provides on returning to work. For retirees who are considering re-entering the workforce, the handbook outlines the stipulations for PERS retirees who plan to return to covered service, including for local-elected officials and independent contractors. This ensures that retirees are well-informed about the possibilities and limitations of their decisions.

Furthermore, the handbook includes practical information on quick-reference facts, such as keeping PERS updated with any changes in name, address, spouse, or beneficiary information. It also covers the process for requesting duplicate IRS forms and updating tax withholding preferences. Overall, the PERS Retiree Handbook serves as a valuable guide, empowering retirees with the knowledge and resources they need to navigate their new life stage confidently and effectively.

Frequently asked questions