The Loyola Marymount University Post-Retirement Health Plan provides post-retirement health benefits to eligible participants who retire from employment with LMU, to their eligible spouse/domestic partner and to their eligible dependents.
Eligibility
You are eligible to participate in the LMU Post Retiree Health Plan if (a) you are an employee in benefit eligible status as defined by LMU, (b) you cease employment with LMU after you attain at least age 62 and complete 10 or more years of service (5 years of service if you were hired on or after your 55th birthday), (c) you are at least age 65 and are enrolled in Medicare Parts A and B, and (d) you return a completed enrollment form to the Human Resources Department that indicates your agreement to pay a portion of the cost for such coverage.
- If you are planning to retire in the near future, contact Human Resources at (310) 338-2723 for a one-on-one consultation regarding the benefits that you may be eligible for under the LMU Post-Retirement Health Plan.
- You must begin the enrollment process for Medicare Parts A & B at least 2 months prior to your retirement. You can apply online or you may also enroll by phone at (800) 772-1213. If you apply on-line, you must print the Request for Employment Information form for an HR representative to complete.
- LMU Post-Retirement Health Plan includes Medicare Part D (Rx coverage).
- Current benefits will end on the last day of the month in which you retire.
- Carrier enrollment applications must be completed at least 2 months before you retire. We will need a copy of your Medicare Part A & B card.
- Benefits include Medical, Dental and Vision coverage.
- LMU's contribution to the Post-Retirement Health Plan is based on age plus years of service. Years of service are the number of complete years of employment with LMU while you were in benefit eligible status. For more information, please refer to the documentation for the LMU Post-Retirement Health Plan.
- LMU will pay 100% of your cost and 60% of your spouse's cost if age + service = 85 points.
- LMU reduces its contribution by 10% for every point less than 85.
- Spouses of faculty/staff must be enrolled as dependents in one of LMU's medical, dental/vision plans prior to your retirement in order to have continued coverage.
- LMU's contribution will be made for a period of 3 years beginning the first of the month after your retirement date.
- When the three year period expires, you may continue in the plan by paying 100% of the cost of the continued coverage.
- You may make changes to elections every plan year during future annual open enrollments held the first two weeks of November.
- If you are enrolled in an HMO plan, LMU will reimburse you for the cost of your Medicare Part B premium which in 2016 is $121.80 per month.
For information or to find out if you are eligible for the Post-Retirement Health Plan, contact Human Resources at (310) 338-2723.