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Part I Section II: Benefits Provisions for Retired University Faculty

R-3 Medical Insurance

  1. Medical insurance coverage is available to retired faculty and their spouses or their LDAs under the same conditions as those available to active faculty and their spouses or their LDAs.
  2. All active faculty, and their spouses or their LDAs automatically receive Medicare Part A –
    Hospitalization upon their attainment of age 65. Medicare Part B – Major Medical is optional until their retirement at which time both Parts A & B are required. For active faculty the University medical plan remains primary until such time they retire. For retired faculty, Medicare Part A and B become the primary insurer and the University medical plan becomes the secondary insurer. Active and retired faculty, and their spouses or their LDAs who have Medicare coverage are responsible for whatever costs are associated with their Medicare coverage. Faculty who retire before 65, remain on the University’s medical plan in effect at retirement until their 65th birthday incurring the premium cost sharing delineated under R-3(e). At age 65, they will have the two options delineated under R-3(c).
  3. The University's medical insurance plan vendor for retired faculty and their spouses or their LDAs is the United Group Medicare Advantage PPO plan offered by UnitedHealthcare.
  4.  
    1. Faculty members are permitted re-entry into the University medical insurance plan at any time. A faculty member not previously covered under the University medical insurance plan who re-enters it will pay the percentage of cost-sharing applicable to faculty members who retire in the same year that the faculty member re-enters.
    2. A spouse or LDA who is Medicare eligible is guaranteed reentry into the University medical plan while employed or upon retirement anytime during the year, even if the retiree is deceased. A spouse or LDA who is not Medicare eligible is guaranteed reentry into the plan even if the retiree is deceased provided that at least one of the conditions outlined in Section A-7(h) is met.
    3. Should there be abuse of provision (1) of this paragraph, the Administration may restrict re-entry into the medical insurance plan to a designated annual enrollment period.
  5. Payment of the premium for health care for retired faculty and their spouses or their LDAs may involve cost sharing, as specified below:
    1. There is no cost sharing for retired faculty and their spouses or their LDAs when the faculty member retired prior to July 1, 1997, except where cost sharing was part of a special retirement package.
    2. Faculty retiring between July 1, 1997, and June 30, 2002, will contribute a maximum of 21% of the premium for life.
    3. Faculty retiring between July 1, 2002, and June 30, 2007, will contribute a maximum of 30% of the premium for life.
    4. Faculty retiring after June 30, 2007, will contribute a maximum of 44% of the premium for life.
    5. For faculty members retiring before January 1, 2015, no retiree’s annual cost share for individual or family coverage will exceed the highest cost share amount in place for that level of coverage (individual or family) for active faculty members either in the year of the faculty member’s retirement or in the year of his/her entry into the retiree medical program, if later.
    6. For faculty members retiring after December 31, 2014, no retiree’s annual cost share for individual or family coverage will exceed 15% of the total premium for that level of coverage (individual or family) for the highest cost medical options offered by the University for active faculty members either in the year of the faculty member’s retirement or in the year of his/her entry into the retiree medical program, if later.
    7. However, in no case will the cost share for the retiree medical benefits for any faculty member retiring after December 31, 2014, be less than 32.5% of the total premium for retiree medical coverage. For faculty members retiring between July 1, 2002, and December 31, 2014, in no case will the cost share for retiree medical benefits be less than 27.5% of the total premium for this coverage. For faculty members retiring between July 1, 1997, and June 30, 2002, in no case will the cost share for retiree medical benefits be less than 21% of the total premium for this coverage.
  6. The University will provide annually retired faculty and their spouses or their LDAs with a copy of the University's medical plan which is relevant to the retired faculty, spouse, or LDA.
  7. Spouses or LDAs, and eligible dependents who are not yet eligible for Medicare, and are dependents of retired faculty age 65 and over, will have family coverage under the medical plan, at the same percentage of cost sharing determined by the provisions of section (e) above.
  8. As of January 1, 2015, Fordham University offers pre-65 retirees the active Medical Plan options at 15% of the premium cost. Retirees age 65 and older can choose a United Healthcare Medicare Advantage PPO and pay cost-sharing as outlined in R-3(e).
  9. As long as an LDA is not a tax-qualified dependent under the definition provided by the Internal Revenue Code the University will impute as income the cost of providing coverage to a non-tax-qualified LDA less any after-tax contributions that may be made to ensure coverage.