Retiree Benefits
How Do I Retire?
Drexel Human Resources is here to help you as you prepare for retirement. We encourage you to familiarize yourself with the Retirement Eligibility & Benefits Policy (HR-21) and schedule a benefits consultation at least two months prior to your retirement date to discuss your retirement eligibility, the retirement process and benefits you are eligible for upon retirement. Contact the Human Resources Service Center at hr@drexel.edu or 215.895.2850 to schedule an appointment with a Benefits Consultant.
What Are My Benefits?
Faculty and professional staff who meet the eligibility requirements of a Drexel retiree have the option of electing to receive medical benefits through the University in retirement. If the retiree is under 65 years of age, the plan elected must be the plan the retiree was enrolled in during the calendar year in which they retired. If over the age of 65 and/or Medicare Part B eligible, a retiree will have the option to enroll in the Medicare Advantage plan that is offered upon retirement.
If the retiree is not enrolled in health benefits as of the date of retirement, enrollment is available at open enrollment or if the retiree loses coverage with another plan. Loss of coverage is a qualifying life event and must be reported within 31 days of the event date.
The retiree and/or spouse/domestic partner of record have the right to change their election during annual Open Enrollment, subject to health plan rules and the following limits. The retiree and spouse/domestic partner may enroll or unenroll mid-year with a qualifying life event. If a retiree and/or spouse/domestic partner experiences a qualifying life event, enrollment will be available only if the participant(s) have been continuously covered in another health plan (other than Medicare only) in the interim, such as employer based group coverage or Medicare plus a supplemental plan. This rule also applies to medical election changes during the Open Enrollment period. Documentation is required.
Medicare Transition Support
Personal Medicare consultations with a Medicare specialist at Health Advocate are available for those employees and/or their spouses/partners who are reaching or are already of Medicare eligibility and need help transitioning off of the Drexel plans to one that works with Medicare. Below are a few tools to assist through this time. Please also please review Career Pathway to see if there are any upcoming sessions discussing this topic.
Retiree Benefit Plan Rates
Faculty and Professional staff members who retire on or after September 1, 2017, are responsible for 100 percent of the plan premium. Select the rate sheet that corresponds with your date of your retirement.
Medical and Prescription Coverage
Drexel University offers four medical coverage options (PPO Basic, PPO High, Consumer Directed Health Plan, Point of Service), allowing retirees under age 65 to pick the best plan for them. The same prescription drug coverage, provided by IBX, is included in each plan regardless of which medical option you select. A summary document of each of these plans can be found below.
You can manage both your medical and prescription benefits online by registering at ibx.com:
- 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 Independence Blue Cross website allows members to order prescriptions to be delivered by mail, price and compare drugs, and access health and medication information.
Vision
Retirees under age 65 have the option to enroll in the Davis Vision plan, which is the same plan offered to Drexel University active faculty and professional staff members. Please refer to the "Dental and Vision Coverage" section below for more information.
Medical and Prescription Coverage
Drexel University offers a Medicare Advantage plan to retirees and/or spouses who are Medicare eligible called the Blue Medicare Advantage Secure Preferred PPO (Secure Preferred PPO). This plan 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.
Vision Benefit Provided Through Secure Preferred PPO Plan
Retirees insured through the Secure Preferred PPO have a vision benefit available every two years. Members must use a Blue View Vision provider. Refer to the above Secure Preferred PPO Medical Plan Summary for more information regarding the vision benefits.
To locate a Blue View Vision provider, log into your account at bluemedadvgrhs.com or visit the Sydney Health app (see the Sydney Health app flyer above). You can also call the member services number on the back of your identification card for assistance in locating a Blue View Vision provider.
For vision claims processed out-of-network, members can request a reimbursement by attaching receipts and completing the PDF out-of-network form online, by email, or you may print and mail or fax it to:
- Email: oonclaims@eyewearspecialoffers.com
- Fax: 866.293.7373
- Mail: Blue View Vision, Attn: OON Claims, P.O. Box 8504, Mason, OH 45040-7111
In addition to the vision benefit through Secure Preferred PPO plan, retirees also have the option to enroll in Drexel’s separate Davis Vision plan, which has an annual frequency for vision benefits. You will be required to pay the appropriate premium to participate in this plan.
Stand-alone dental and vision coverage is also available to retirees and spouses/partners. Retirees are responsible for 100 percent of the plan premium.
Dental Coverage: Drexel University offers employees three dental options, a Base, a Preferred and a DHMO plan, through CIGNA. These plans provide a solid base of preventive and restorative services.
Dental Plans Offered
Vision Coverage: Drexel's vision plan is offered through Davis Vision, administered through Independence Blue Cross. The plan has an annual benefit frequency and 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 members can search for preferred Davis Vision providers under the Find a Doctor section of the Independence Blue Cross website. A summary document and out-of-network Davis Vision claim form are below:
Retiring from Drexel does not 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:
- SupportLinc 24/7 confidential counseling for retiree, family, and household members
- Tuition Remission for retiree, spouse and dependent children
- Courtesy University ID card (please note, there is a $20 fee for replacement/lost cards)
- Drexel email account and the ability to opt-in to continue receiving Drexel mass emails. To opt in, email listreq@drexel.edu and ask to be included on the University’s central mailing lists. Once you have opted in, you can opt out at any time by contacting listreq@drexel.edu.
- Discounted Recreation Center memberships
- Annual Retiree Reunion luncheon
- Procurement-negotiated organizational discounts
- On-campus consultations with TIAA
- 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 and continued receipt of University mass mailings (to opt out of these mailings, email listreq@drexel.edu with your request)
- 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.
Questions?
To report a life event or ask questions about enrollment, contact the Drexel University Benefits Center, powered by WEX, by calling 1.844.690.3992 and speaking with a representative.