Cigna Medicare Advantage plan coverage will end on December 31, 2024. A contract with Vermont Blue Advantage (VBA) has been approved, effective January 1, 2025. Please attend one of the information sessions regarding this change.
Faculty and staff planning to retire should take the following steps to retire and ensure a smooth transition. Below is general overview of steps, responsibilities, and related timing:
1. Employee Confirms Eligibility for Retiree Medical and other benefits at least 120 days prior to intended retirement date. Contact Human Resources to schedule a counseling session with a Benefits Advisor to review and confirm benefits eligibility. To set up an appointment, call 802-656-3150 or email HRInfo@uvm.edu.
2. Employee Gives Notice to Supervisor in writing at least 90 days prior to chosen retirement date. Indicate actual retirement date, requested vacation times, and last day in office. Also provide a copy to Department HR Rep.
3. Supervisor Responds with written acknowledgement of mutually agreed upon retirement date within 7 days. A copy of supervisor letter sent to the department HR Rep. See appendix in Separation Checklist for sample letter.
4. Department HR Representative Submits ePAR (electronic personnel action request) containing retirement effective date. Attachments to include employee and supervisor letters acknowledging retirement date. If applicable, vacation payout amount added to ePAR closer to retirement date.
5. Employee Meets with Benefits Advisor at least 60 days before retirement date for forms completion. Items to confirm include benefit plans available, cost-share in retirement, enrollment in Medicare coverage, and how Medicare coordinates with UVM medical insurance. Complete forms to enroll in retiree benefits as applicable.
6. Employee Contacts TIAA and/or Fidelity about retirement savings. Information available on the following link: Contact UVM Retirement Vendors.
This Summary Plan Description provides you with a description of your benefits while you are enrolled under the health plan offered by your employer (as Plan Administrator). You should read this document to familiarize yourself with Your Plan’s main provisions and keep it handy for reference.
Blue Cross Blue Shield Open Access Plan - Summary of Benefits
Group Number begins with 80894 -SBC for all active faculty and staff plus many retirees under age 65
Blue Cross Blue Shield Open Access - Summary Plan Description
This Summary Plan Description provides you with a description of your benefits while you are enrolled under the health plan offered by your employer (as Plan Administrator). You should read this document to familiarize yourself with Your Plan’s main provisions and keep it handy for reference.
Cigna True Choice Medicare Advantage Plan - Summary of Benefits
Cigna True Choice Medicare Advantage Plan - Evidence of Coverage Snapshot
Cigna True Choice Medicare Advantage Plan - Frequently Asked Questions
Cigna Formulary (List of Covered Drugs)
Cigna True Choice Medicare Advantage - Incentives Rewards Program
Cigna True Choice Medicare Advantage - myCigna.com Guide
Cigna True Choice Medicare Advantage - Plan Information Guide
The University of Vermont offers two levels of dental coverage through Delta Dental to eligible retirees:
1.) Base Option - No cost for most retirees.
2.) High Option - If applicable, United Academics retirees may be responsible for paying 10% of the Base coverage cost and a High Option premium (if enrolled).
Delta Dental - Outline of Coverage
Delta Dental - Summary Plan Description
The information on this site represents the most current information related to Post-Retirement Medical Benefits (PRMB) at The University of Vermont. If you have specific questions about your situation, please e-mail Human Resources. If you are considering retirement, call the Human Resources at 656-3150 to schedule an appointment with an Employee Advisor.
UVM bills retiree healthcare on a monthly basis. If you have questions about the process, you may find the answer you need below:
Can I pay more than one month at a time?
Yes, most certainly. If you are able, we would strongly encourage you to pay six or even as many as 12 months in advance. If you do, you will not receive a monthly invoice until your credit balance is used up.
What forms of payment can I use to pay my healthcare premiums?
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 premium. This is typically the easiest and safest way to ensure that your bill gets paid. Many banks offer this service for free. If yours does not or if you choose not to use it, you can continue to pay as you always have.
Can UVM debit my checking or savings account to automatically withdraw the funds to pay my healthcare premiums?
No, UVM has no way to set up a monthly debit to withdraw funds from your account.
Who is the vendor who handles retiree healthcare billing?
The University handles the billing and accounting of all invoices for retiree healthcare premiums. The company that will work with retirees who fail to pay their accounts on time is Education Computer Systems, Inc. (ESCI).
The University of Vermont (UVM) established the Retiree Health Savings Plan (RHSP) to help individuals pay for qualified healthcare expenses during retirement. UVM will make regular tax free contributions to the plan for benefits-eligible faculty and staff hired on or after January 1, 2012. For these individuals, the plan is considered a non-contributory plan (meaning that it does not require contributions from the employee in order to receive UVM contributions). Although the plan is intended for those hired on or after January 1, 2012, all active benefits-eligible faculty and staff regardless of hire date may establish an RHSP and make regular, voluntary after-tax contributions.
Earnings that accumulate in a Retiree Health Savings Plan grow tax free. When you access your RHSP to pay for eligible healthcare expenses in retirement, those reimbursements are also tax free. As a result, this plan has the benefit of helping you to pay for healthcare expenses in retirement in a tax-advantaged way. For more details, see the following documents:
For eligible faculty and staff hired after January 1, 2012, UVM contributions are automatic. Those hired on or after January 1, 2012 who wish to make personal contributions, and those hired before January 1, 2012 who wish to establish a Retiree Health Savings Plan, must complete the RHSP Election Form (PDF).
For benefits-eligible faculty and staff who are not yet participating in the UVM Retirement Savings Plan, HR hosts regular information sessions. Attendees will learn about plan options and become better prepared to make informed investment choices. Reservations are required. For course session dates and registration - go to Self-Service>Learning and Development>Professional Training>Request Training Enrollment and enter the course code BEN016.
E-mail us (or call 802-656-3150) with any questions.
For benefits-eligible faculty and staff who are already involved in the UVM Retirement Savings Plan, individual retirement plan counseling sessions with the vendors are available by appointment only. To set up a one-on-one counseling session for your retirement plan, please make an appointment directly with the appropriate vendor.
457(b) Compensation Plan is being revised.
There are a variety of privileges available to UVM retirees. Current benefits include, but are not limited to:
