Medicare Marketplace for 2026

As part of our ongoing commitment to providing high-quality healthcare options and with the feedback from fellow retirees, the University of Vermont will be transitioning to an individual Medicare marketplace beginning in 2026. This change offers Medicare-eligible retirees and their Medicare-eligible dependents greater choice and flexibility in selecting medical and prescription drug plans that best meet their individual needs. The Medicare marketplace provides personalized and cost-effective solutions.

We have selected a vendor that will offer you personalized support and will help you navigate the Medicare marketplace starting in September. At that time, we will provide you their name, contact number, and website. There is no action you need to take right now. 

Here’s what you can expect in the coming weeks:

• August 2025

  • Medicare Marketplace 101: If you are interested in learning more about Medicare and the marketplace, join UVM Human Resources for an education session either in-person or online. Details can be found below in the "Retiree Workshop: Medicare 101" section.

• End of September 2025

  • Launch of System: You will receive a detailed letter with more information. With our vendor’s service center officially opened, licensed benefit advisors will begin taking your calls, answering any questions you may have, and scheduling enrollment appointments.

• Beginning of October 2025

  • Open Enrollment & Learning Sessions: Open enrollment begins in October for Medicare. UVM will host meetings so you can join to ask questions and learn more about the change.

• December 2025

  • Open Enrollment Ends: Retirees and their eligible dependents must have enrolled in new plans by the end of the open enrollment period to avoid a gap in coverage.

• January 1, 2026

  • Effective Coverage: Individual marketplace coverage goes into effect.

Overview of Medicare

Medicare is made up of Part A, Part B, Part C, and Part D. Part A is hospital insurance and Part B is medical insurance. Medicare Parts A and B cover limited, if any, prescription drug, dental, and vision costs. To cover the remainder, individuals need to purchase Medicare Supplemental Insurance (Medigap) with a Part D Prescription Drug plan or a Medicare Advantage plan.

UVM has historically offered retirees a group Medicare Advantage plan. Starting in 2026, retirees will purchase a Medicare Supplemental Insurance (Medigap) or a Medicare Advantage plan through the Medicare marketplace. Details will continue to be shared through the fall of 2025.

Retiree Workshop: Medicare 101

UVM will be hosting two workshops for retirees to learn more about Medicare and the marketplace, which will be available to Medicare-eligible retirees and Medicare-eligible dependents for 2026. 

• In-Person - Monday, August 25, 9:00-10:30 AM 

• Virtual - Monday, August 25, 2:00-3:00 PM

Please note: This is a general education session about the Medicare marketplace. Specific details about open enrollment for UVM retirees for 2026 will be communicated at a later date. 

Plan Information

Retirees under the age of 65 who are Medicare ineligible may enroll in the Blue Cross Blue Shield Open PPO 1 Plan (BCBS).

• Blue Cross Blue Shield Open Access Plan - Summary of Benefits
• Blue Cross Blue Shield Open Access - Summary Plan Description

How to Calculate Your Medical Premium 

The total monthly premium is the amount shared between both you and UVM. Each retiree has a different cost share percentage that is applied to the total monthly premium calculate your specific cost. 

• For retirees or dependents aged 64 or under, the total monthly premium for an individual on Blue Cross Blue Shield is $1,380.19.

To determine your cost share for medical insurance coverage, multiply the total monthly premium by your cost share percentage.  

• Example Calculation: If your cost share is 22%, you would do the following calculation:
  • Aged 64 and under (Blue Cross Blue Shield): $1,380.19 × 0.22 = $303.64 per month

Coverage Change Form

Complete the enrollment/change form to enroll or opt-out of the BCBS plan. You are eligible to enroll in this plan if you are under the age of 65 and if you experience a qualifying life event. You are eligible to opt-out are turning 65 years old or if you experience a qualifying life event.

• Blue Cross Blue Shield VT Medical Enrollment/Change Request Form (PDF) 

How to Make a Payment

UVM handles the billing and accounting for all retiree healthcare premium invoices and bills on a monthly basis. If you are able, UVM strongly encourages you to pay 6 to 12 months in advance. If you do, you will not receive a monthly invoice until your credit balance is fully used.

There are two ways to make a payment: 

Mail a check: Personal, cashier, certified, money orders, or traveler's checks made payable to UVM with your ID (95 number) included in the memo may be mailed to: UVM P.O. Box 1306 Williston, VT 05495

Automatic bank withdrawals: If your bank has an electronic bill paying service, you may wish to set up your bank account to make automatic payments to UVM for your healthcare premiums on a certain date. There is processing time on the bank’s side that should be taken into consideration when choosing the payment date. Automatic payments are typically the easiest and safest way to ensure that your bill gets paid. Many banks offer this service for free. 

What you need to provide your bank:

1. Payee Name: University of Vermont

2. Mailing Address: UVM, P.O. Box 1306, Williston, VT 05495

3. Student ID #: This is a nine-digit number that begins with “95”.

a. This ID# needs to be indicated on all payments in order for it to be credited to your account.

4. The date you want the bill paid each month.

Please note: At this time, UVM has no way to set up a monthly debit to withdraw funds from your account.