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Loyola University Chicago

Human Resources

Retiree Medical Benefits

Your dedication to Loyola University throughout the years has played an important role in making this university the superior academic institution that it is today.  As you approach retirement, you’ll need to make some important decisions in order to choose a retiree medical insurance plan that fits your needs and the needs of your family.  The Human Resources Department is committed to providing you with the resources and information necessary to assist you in making an informed decision.

Upon retirement, if you have met the eligibility requirements, you must elect or decline enrollment in the Retiree Medical Plan & you should choose the funding method that you prefer, which enables access to your Retiree Health Account:

      Eligibility  Loyola University
   Retiree Medical Plan
 Retiree Health Account

In order to be eligible
for both the Retiree
Medical Plan and the Retiree Health Account, an employee must be at least
sixty (60) years old AND have a minimum of ten (10) years of continuous full-time University service, immediately prior to their retirement date.

  • Retiree insurance plan administered by Blue Cross/Blue Shield.
  • Flexibility of using the doctors & hospitals of your choice.
  • Highest level of payment will be for all services rendered at LUHS (Loyola University Health System)
  • Plan coordinates coverage with Medicare as a “carve-out” plan.
  • Must enroll within 31 days of retirement.
  • May enroll yourself & any eligible dependents
  • Retiree pays the full cost of coverage for all  individuals. 

For more detailed information including FAQ’s, see the Retiree Medical Plan 

This account represents Loyola’s contribution towards payment of your healthcare expenses after retirement:

  • Balance in account accumulates at a rate of $2,750 per year.
  • For all years of full-time service worked between the ages of
    50 through 65.
  • At retirement, you must choose between Option B1 & Option B2 in order to gain access to your account.

Many of your questions may be answered by reviewing the FAQ’s and Side-by-Side Comparison Chart.  To review, see the Retiree Health Account

 

Please review the following links to obtain more information:

Retiree Medical Rates 2014

Retirement Checklist

Retiree Medical Plan- Detailed information regarding Loyola's Retiree Medical Plan including co-insurance amounts, deductibles, prescription drugs, etc. You'll also find many Frequently Asked Questions about the medical plan in this section.

Retiree Health Account- Detailed information about the Retiree Health Account, including Frequently Asked Questions & a Side-by-Side Comparison chart of the differences between Option B1 & Option B2 may be found in this section.

Retirement 101 Knowledge Center- Information about what happens to your current benefits after retirement; Helpful basic info on Medicare; a Retirement Checklist with a suggested timeline; and information about continuing your Loyola UVID & Groupwise email after retirement may all be found in this section.

On-Line Forms - Under this link you will find information regarding retiree enrollment forms; claim forms for your Retiree Health Account; Retiree Computing Agreement.

Loyola

Office of Human Resources
820 N. Michigan Ave., Chicago, IL 60611
312.915.6175 ยท hr-wtc@luc.edu

Notice of Non-discriminatory Policy