Health Insurance for Departing and Retiring Employees After NDSU-paid coverage ends, employees can stay on the health insurance for periods of either 18 (most often) or 36 (rarely) months by paying the premium directly to PERS. This option for continued coverage is mandated by a federal law called COBRA (Consolidated Omnibus Budget Reconciliation Act). Current COBRA rates are $324.58 monthly for single coverage and $779.22 monthly for family coverage. Any questions may be addressed to Brittnee Steckler at 1-8965 or via email at Brittnee.Steckler@ndsu.edu Group Life and Health Insurance At the time of retirement, faculty/staff members may continue with the state's group health insurance coverage and the basic term life insurance policy by paying the premiums themselves. The basic term life insurance currently provides $1,300 coverage. Participation in the uniform group health insurance may be continued if the retired employee is receiving a monthly benefit from TIAA-CREF, TFFR, or NDPERS. If the retiree defers their annuity benefits, he/she will be eligible to purchase the State Group health insurance as regulated by COBRA. Retirees are eligible for coverage on the State Group Health Plan without meeting minimum requirements when they begin receiving a monthly annuity benefit, at the attainment of age 65 for retiree or spouse, or when the spouse terminates employment. If a retiree does not elect to participate at the times specified above and wishes to enroll later, the retiree must meet the minimum requirements established by the NDPERS board. |
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Prospective students may schedule a visit by calling 1-800-488-NDSU. |
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| Site Manager Last Updated: Tuesday, 20-Nov-2007 11:05:56 CST Published by North Dakota State University |
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