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The university partners with Via Benefits to provide guidance to retirees to choose a Marketplace Medical Plan or Medicare Medical Supplement/Prescription Plan. As an eligible retiree (Retiree I/Grandfathered Retiree I), you will receive funding sponsored by Baylor University and administered by Via Benefits to help reimburse you for eligible premiums or out-of-pocket expenses.
The university offers a Cigna DPPO plan. Active enrollment in the dental plan as an employee prior to retirement is required to participate as a retiree.
The university and the life insurance vendor offer opportunities for retirees to continue some form of life insurance.
All retirees may convert your current employee term life policy or supplemental term life policy to a whole life policy on an individual basis with the carrier, Dearborn National Life Insurance Company. All Grandfathered retirees and Retiree I classifications have the option to purchase a $5,000 or $10,000 supplemental retiree term life insurance plan with a monthly cost of $10 or $20 respectively. Dependent Life insurance coverage terminates upon retirement for all retirees.
Those with Retiree III designation who had insurance as employees and their dependents who have been covered by medical/dental plans may apply for continued coverage for up to 18 months, subject to certain conditions. Dependents, spouse/children, who no longer meet eligibility requirements due to divorce, limiting age 26, etc., may continue as an individual on the medical/dental plans for up to 36 months, subject to certain conditions.
Spouses and children of retirees are eligible for tuition remission, though retirees themselves are not eligible for tuition remission.