Effect of Retirement on Benefits

The following is a brief description of benefits available to official retirees of MSU.

An official MSU retiree requires a minimum of 15 or more years of service and at least age 62 or 25 years of service at any age. For additional information on retiring from MSU, please see the Retiring from the University Policy. Information related to your retirement eligibility is available in the EBS Portal.

Health, Prescription Drug and Dental Benefits

Eligible retirees may continue to receive a contribution toward health, prescription drug coverage, and dental based on their full time equivalent (FTE) service months at retirement, please see the Retiree Benefits Policy. Effective Jan. 1, 2021, the following are the Health Care Plans/Prescription Drug Coverage you may select at the time of retirement:

• All covered individuals on your plan are under age 65 and NOT eligible for Medicare, you may elect to enroll in the Humana MSU Non-Medicare PPO Plan (including prescription drug coverage).
• All covered individuals on your plan are age 65 or older and/or eligible for Medicare, you may elect to enroll in the Humana Group Medicare Advantage PPO Plan (including prescription drug coverage). 
• Some individuals covered on you plan are eligible for Medicare while others are not, you may elect to enroll in the Humana Transition PPO Plan (including prescription drug coverage), which is a combination of both the Medicare Advantage and the non-Medicare plan for each applicable covered individual.
• You must elect coverage within 30 days of retiring to enroll in retiree health and prescription drug coverage, and to continue under the University group plan.  Use the Retiree Enrollment/Change Form to elect retiree benefits prior to retirement (only use up to 4 months before retiring).  You will also receive an automated "Retirement from MSU" email after your retirement date to enroll in the EBS Portal (note: you can disregard this automated email if you used the Retiree Enrollment/Change Form and submitted it timely).
• If you are not enrolled in a health plan or enrolled in the health plan waiver at the time of retirement, you may elect a retiree health and prescription drug plan as described above. 
• Teladoc membership ends at retirement.
• Livongo membership ends at retirement. Livongo will provide notification of continuation options.

MSU retirees living abroad can consider the Cigna Global Health plan.

Dental Coverage you may select at the time of retirement:

• Delta Dental
• Aetna Premium DMO
• If you are enrolled in a dental plan and do not elect a plan, you will remain in the dental plan you were enrolled in prior to retirement.
• If you are not enrolled in a dental plan at the time of retirement, you may elect a dental plan as described above.

For details on health and dental plan coverage and cost, please see the Retirees Open Enrollment Guide for the applicable year. Support staff retirees hired on or after July 1, 2002 and faculty retirees hired on or after July 1, 2005 should ensure they are reviewing the appropriate contribution chart for costs to cover eligible dependents.

The following is a short summary of how retirement may impact additional MSU benefits for retirees.

Course Fee Courtesy

Official retirees, who were eligible at the time of their retirement, retain their eligibility for Course Fee Courtesy. Spouse and dependent children continue to be eligible for one-half the cost of tuition at MSU as defined by the program.

Flexible Spending Accounts

Eligibility to participate in the Flexible Spending Accounts, either the Dependent Care Flexible Spending Account (Dependent Care FSA) or the Health Flexible Spending Account (Health FSA), cease with the end of the month of your employment termination date. You have until April 30 of the following year that you cease employment to submit claims for reimbursement. If you participate in the Health FSA at the time of retirement, you may be eligible to continue under COBRA.

General Information

At the time of retirement, individuals will receive information regarding retirement and benefits from MSU.

Retirees will continue to receive Open Enrollment information every year.

Certificates and plan brochures are available at MSU Human Resources Benefits Summaries & Brochures, which describe the coverages in further detail.

Health Plan Waiver

The Health Plan Waiver option ceases with your retirement. Based on the number of points you accrue prior to retirement, you may receive a check for the prorated amount. You may enroll in a health care plan at retirement.

Health Savings Account

If you are currently enrolled in a Health Savings Account (HSA) and are Medicare eligible (soon to be age 65 or older), you will want to stop your HSA contributions at least 6 months prior to your Medicare effective date. For more information about HSA and retirement please review the HSA FAQ, or contact the administrator of the HSA (Health Equity) at 877-219-4506 for more information.

Insurance Benefits

Employees who have the Optional Employee-Paid Life Insurance coverages, and are under the age of 70 at retirement, will automatically continue with the coverage. Retirees are billed for premiums from MSU HR.  Retirees may choose to cancel within 30 days of retirement.  The Optional Employee-Paid Life Insurance may be converted to a private plan after age 70.

The Basic Employer-Paid Life Insurance will cease with retirement, but it may be converted to a private policy within 30 days of retirement by calling Prudential at 1-877-232-3555.

The Voluntary Accidental Death & Dismemberment (AD&D) Insurance, the MSU Travel Insurance, and the MSU Long Term Disability coverage, all cease with retirement. There are no conversion options for these plans.

Voluntary Benefits

For information on continuation of voluntary benefits purchased through MSU Benefits Plus, contact Corestream at 888-758-7575 or visit the website at www.msubenefitsplus.com.

Grandfathered Long Term Care Insurance, administered by John Hancock, may continue in retirement. Retirees will be billed directly from John Hancock. 

Other Eligible Individual (OEI)

Continuation of health and dental coverage in retirement may be available for an Other Eligible Individual and eligible dependents.