Drexel Human Resources (HR) is here to help you as you prepare for retirement. We encourage you to familiarize yourself with the Retirement Eligibility & Benefits Policy (HR-21). Meet with an HR representative to discuss your retirement eligibility, the retirement process and what benefits you are eligible for upon retirement. Contact the HR Service Center at email@example.com or 215.895.2850 to schedule an appointment.
Retiring doesn't mean you're no longer part of the Drexel family. Your service continues to be invaluable to our students and university even after retirement. Below are some of the options available to help you stay involved as a Dragon.
We'd love to still see you regularly! Take a look at the many ways you can stay involved on campus, from attending plays and exhibits to participating in workshops and seminars. Review the University Events Calendar for upcoming events and instructions to RSVP. Retirees are also welcome to take advantage of individual financial counseling sessions with our 403(b) vendors or financial fitness workshops. Please review the Events Calendar for upcoming sessions and how to register.
Lindy Center for Civic Engagement and the Dornsife Center for Neighborhood Partnerships: Volunteering through a community partner, serving as a host at the monthly Dornsife community dinners, or teaching a community-based learning course are a few of the ways to stay connected with the community after you retire. Contact Katie Regetta at firstname.lastname@example.org or 215.571.3668 to discuss your passions, expertise and interests and how they can align with service through the Lindy and Dornsife Centers.
Faculty and professional staff have the option of electing to receive medical benefits through the university after retirement. If the retiree is under 65 years of age, the plan elected must be the plan that the retiree was enrolled in during the calendar year in which they retired. If the retiree is not enrolled as of the date of retirement, enrollment is available at open enrollment or if the retiree loses coverage with another plan, if enrollment paperwork is completed within 30 days of the loss of coverage. Faculty and professional staff are responsible for 10 of the premium.
The retiree and spouse of record have the right to change their election during Open Enrollment, subject to health plan rules and the following limits. The Retiree and spouse of record may enroll or unenroll at other times due to certain life events, subject to the limitation in the above paragraph. If a retiree and/or spouse of record does not enroll, or chooses to unenroll at any time, enrollment/reenrollment will be available only if the retiree and/or spouse of record have been continuously covered in another health plan (other than Medicare) in the interim. This rule also applies to enrollment/reenrollment during the Open Enrollment period. Proof will be required.
Faculty and professional staff who retired before June 30, 2017 can view medical benefit coverage in the Retirement policy.
Retiree Benefit Plan Rates
Click here to view the 2020 Retire Benefit Plan Rates [PDF]
Understanding Healthcare Options From Madicare to the Marketplace
Click here to view this training presentation [PDF]
Retiree Under Age 65 – Medical and Prescription Coverage
Drexel University offers four medical coverage options (PPO Basic, PPO High, Consumer Directed Health Plan, Keystone Point of Service), allowing Retirees under age 65 to pick the best plan for them. The same prescription drug coverage is included in each option regardless of which medical option you select. A summary document of each of these plans can be found on the Health Coverage page.
Under 65 Medical Plans Offered
Drexel's medical and prescription coverage providers both offer online benefit management:
- Medical: The Independence Blue Cross website allows members to search for participating providers, print out temporary ID cards, request new ID cards, and view processed claims.
- Prescription: The OptumRx website allows members to order prescriptions to be delivered by mail, price and compare drugs, and access health and medication information.
Retiree Over Age 65 – Medical and Prescription Coverage
Drexel University offers the Independence Blue Cross Personal Choice 65 (PPO) plan. This is a Blue Cross Medicare Advantage preferred provider organization plan (PPO) available for Retirees over age 65. It offers benefits beyond Original Medicare and includes benefits only available to Blue Cross Medicare Advantage plan members. To qualify for this plan, you must be enrolled in both Medicare parts A & B. You are responsible for payment of the monthly Medicare Part B premium in addition to the monthly cost of the plan offered by Drexel, if applicable. For details on the cost for Medicare Part B, please visit Medicare.gov.
- Blue Cross Medicare Plan (PPO) Summary [PDF]
- Blue Cross Personal Choice 65 Rx (PDP) [PDF]
The Independence Blue Cross Rx (PDP) plan offers you prescription drug benefits integrated into your Medicare Advantage plan. It provides Medicare Part D coverage that helps you pay the cost of prescription drugs and is included with your medical plan.
- The Independence Blue Cross website allows members to look up network doctors and view up to date formulary information. If you do not have internet access, you may contact Member Services at the toll-free number on your ID card to find out how a specific drug is covered.
Dental and Vision Coverage
Dental and Vision coverage is available to retirees at their own cost. Retirees are responsible for 100 percent of the plan premium.
Dental Coverage: Drexel University offers employees two dental options, a Base and a Preferred plan, both through CIGNA. These plans operate as fee-for-service dental plans and provide a solid base of preventive and restorative services. The Preferred plan, however, provides higher reimbursement percentages for most dental services. A summary document of each of these plans can be found on the Health Coverage page.
Dental Plans Offered
Vision Coverage: Drexel's vision plan is offered through Davis Vision, administered through Independence Blue Cross. The plan offers coverage for such services as eye exams, frames and lenses, contact lenses, as well as discounts on select eye care supplies. Davis Vision provides a schedule of both in-network and out-of-network vision care services, and employees can search for preferred vendors under the Find a Doctor section of the Independent Blue Cross website. A summary document of this plan can be found on the Health Coverage page.
Davis Vision Plan Offered
Retiring from Drexel doesn't mean you lose the benefits of being part of the Drexel family. Listed below are programs and services that can make life in retirement easier for you and your family.
Granted to all faculty and professional staff retirees:
- Tuition Remission for retiree, spouse and dependent children.
- Courtesy University ID card. Please note, there is a $20 fee for replacement/lost cards.
- Discounted Recreation Center memberships.
- Annual Retiree Reunion luncheon.
- Procurement-negotiated organizational discounts.
- Retiree job board.
- On-campus consultations with plan providers (Fidelity, TIAA, Vanguard).
- On-campus library access.
Granted to all faculty who receive Emeritus/a status:
- Lifetime listing including the rank of Professor Emeritus/a in University catalogues and directories.
- Regular and online library privileges.
- Lifetime email address and support including listing in Drexel directories.
- One year continuation of phone number and voicemail.
- Lifetime eligibility for membership to the Daskalakis Athletic Center. Membership fees will be assessed at the faculty rate.
- Participation in University public ceremonies.
- Based on availability and the recommendation of the Dean, and with the concurrence of the Provost, use of office and/or lab space, equipment, and other campus facilities to support scholarly work and/or educational activities.
- With permission of the Dean of the College, authorization to serve on thesis and dissertation committees, and to engage in other research or educational activities within the University.
Visit the Emeriti Faculty Policy for more information.
Your years of service were greatly appreciated, and if you want to stay active or just miss us, then we encourage you to check the Drexel Retiree job board for adjunct faculty and other opportunities.
Job Board coming soon.