This page provides an overview of the university's insurance programs for eligible retirees. Contact Human Resources to make an appointment with your retirement coordinator to confirm your eligibility and options for insurance programs after retirement.
Since payroll deduction will no longer be possible after retirement, you will be responsible for paying your premiums directly to Inspira Financial, the university’s administrator for retiree insurance plans. If you are Medicare eligible, you will also be responsible for paying rates on Medicare Part B. Go to www.medicare.gov for an estimate of your cost.
Depending on your age, hire date, and retirement eligibility date, your premium rates cost will vary for your university medical, dental, vision, and life insurance. Review the rates sheets and subsidy information below.
View Retiree Rates
The university will 100% subsidize medical insurance premiums for employees and retirees that were eligible for retirement before 1/1/2016.
The university will subsidize medical premiums for employees who were hired before 1/1/2008 and who become eligible for retirement on or after 1/1/2016 at the percentages shown in the table below. The subsidy percentage paid by OU is locked in by the employee's years of service at retirement and their age when participation begins.
| Age | Years of Service | |||
|---|---|---|---|---|
| 10-14 years | 15-19 years | 20-24 years | 25+ years | |
| Under 55 | No Subsidy | No Subsidy | No Subsidy | Can retire with subsidy |
| 55-61 | No Subsidy | 55% Must meet Rule of 80 | 65% Must meet Rule of 80 | 75% |
| 62-64 | 55% | 65% | 75% | 85% |
| 65+ | 65% | 75% | 85% | 100% |
If you are receiving OTRS benefits in retirement, part of that benefit includes an OTRS contribution toward your medical insurance premiums. The OTRS insurance subsidy is designed to decrease the retiree health insurance premium, which will decrease both your share and OU’s share of your insurance premium. See the example calculation below. The OTRS insurance subsidy is applied the same way when the university pays 100% of a retiree’s insurance premium – in that case, it reduces OU’s share of the premium. You can review the background about the above matrix and this cost sharing method.
Example Calculation for an OTRS retiree with 75% university medical subsidy:
| Topic | Example Norman Amount | Example HSC Amount |
|---|---|---|
| Total Premium for Pre-65 Retiree | $789.31 | $804.36 |
| OTRS Insurance Subsidy (amount paid by OTRS) | $105 | $105 |
| Remaining Premium (A - B) | $684.31 | $699.36 |
| OU Insurance Subsidy (amount paid by OU: 75% of C) | $513.23 | $524.52 |
| Retiree's Remaining Premium (C - D) | $171.08 | $174.84 |
Employees hired on or after January 1, 2008, may continue to participate in the OU medical and dental plans at group rates upon retirement at their own cost by paying the full premium without university subsidy. This plan provision was adopted in 2007.
If you qualify for university retirement and have been enrolled in the university’s medical insurance for 5 years immediately prior to retirement, then you are eligible to participate in a group medical insurance plan as a retiree. You may continue to cover any eligible dependents you are covering at the time of your retirement at an additional cost.
When you retire, your active employee medical insurance coverage will end, and you will receive a Certificate of Credible Coverage from the university's current insurance provider. Retain this certificate for your records. You will then be enrolled in OU's retiree medical insurance group plan, and new insurance cards will be mailed to your home.
Review this handout for a helpful overview of retiree medical insurance and Medicare: OU Medical Insurance When You Reach Age 65 or Retire
If retirees have other medical insurance coverage through another employer or their spouse, they may consider a one-time opportunity to opt-out of OU retiree medical plan coverage and preserve future eligibility. To initiate the opt out action, complete the Retiree Medical Insurance Eligibility & Opt Out Form and return it to HR. Keep in mind that if you opt out, your covered dependents opt out as well.
Retirees who have opted out and wish to return to the OU medical insurance plan have 31 days from the loss of other creditable coverage to come back on the OU retiree health plan. To reinstate coverage, a retiree must show proof of continuous coverage to Inspira Financial or the current vendor for the 24 month period preceding their return to OU medical coverage. Contact Human Resources for more information.
OU Medicare-eligible retirees will need to enroll in Medicare Part A and Part B. The Humana Group Medicare Advantage (PPO) is a Medicare Advantage plan that delivers all the benefits of Original Medicare (Parts A and B), includes prescription drug coverage (Part D) and offers additional benefits and features. It is not a supplement plan and does not pay secondary to Medicare. All claims are submitted directly to Humana for payment, not Medicare.
Buy-up option plans are available for Medicare-eligible retirees. The university offers a senior supplement plan and a stand-alone Part D drug plan. Review this handout for a helpful overview of retiree medical insurance and Medicare: OU Medical Insurance When You Reach Age 65 or Retire
When you’re first eligible for Medicare, you’ll need to sign up for Part A during a 7-month enrollment period that begins three months before the month you turn 65. The university requires you to begin enrollment in Medicare Part B three months prior to retiring to receive the maximum benefit offered through the university medical insurance plan. The effective date of your Medicare Part B should be the first day of the month after your active employment ends. Alert: Avoid delays and penalties by enrolling in Medicare Part A and Part B during the appropriate enrollment period. Contact the Medicare office for more information.
OU offers a Medicare Part D pharmacy benefit through a Humana Rx plan. This is not a separate plan from the Medicare Advantage Plan, it is incorporated into the Medicare Advantage Plan.
The Part A and Part B programs are funded differently. Part A is paid by taxes, whereas Part B is funded partially by the federal government and partially by premiums that you will pay when you become eligible for those benefits. Contact the Medicare office about your monthly cost for Medicare Part B, which can vary depending on your income earnings.
If you qualify for university retirement and have been enrolled in the university’s dental insurance for 5 years immediately prior to retirement, then you are eligible to participate in a group dental plan for retirees.
You have the option to enroll in the Blue Cross Blue Shield BlueCare Dental Basic Plan or the BCBS BlueCare Dental Alternate Plan. For exclusions and limitations, visit with an OU retirement specialist.
OU employees who are currently enrolled in the university's vision insurance are able to continue their coverage in retirement. All OU retirees are able to enroll in the university's vision insurance with VSP during Benefits Open Enrollment. VSP offers standard and premium vision insurance plans. Both plans are paid solely by the retiree.
If you qualify for university retirement and are currently enrolled in the university’s life insurance plan, you may continue a portion of your university life insurance coverage in an individual policy. Please complete the retiree life insurance form (available from HR) within 30 days of your retirement if you intend to retain life insurance. You are responsible for paying the entire premium for your retiree life insurance. The amount of coverage will be determined by the amount of group life insurance coverage you have at the time of retirement. The guidelines are:
To see if the amount of life insurance you carried as an active eligible employee can be converted to an individual permanent policy, please contact The Standard, the university’s life insurance vendor. When you reach age 70, the university’s life insurance coverage will end; before your coverage expires, you may consider purchasing your own individual policy from a life insurance company.
If you are currently participating in the Healthcare Flexible Spending Account (FSA), you may use funds for expenses incurred up to the end of the month in which you retire. You have the option to extend this benefit for 18 months through the COBRA continuation plan. If you choose not to enroll in COBRA, you will forfeit any unused funds not spent by the end of the month in which you retire. Ask your retirement coordinator for details.
After you retire, you are allowed to make certain changes to your medical, dental, and vision coverage during the annual benefits enrollment period each fall. Details will be mailed to your home address during the enrollment period, so make sure you always notify HR when you have a change in address.
Outside of the open enrollment period, you may make changes to your coverage only if a Qualifying Life Event such as marriage or the birth of a child has occurred. Contact Inspira Financial, the university’s administrator for retiree insurance plans, for questions about qualifying events at (800) 359-3921.
After you retire, you may need to update your address, investment options or beneficiary designations. Learn more about Changing Your Information in Retirement.
A one-time opt-out/opt-in feature was added to the retiree medical plan effective Jan. 1, 2013. Retirees will be allowed to opt-out of retiree medical coverage and preserve future eligibility. The premium subsidy will be locked in at the retiree's rate at the time of opt-out. If the retiree is receiving an OTRS health insurance subsidy and exercises their one-time opt-out option, the OTRS subsidy will be forfeited. Retirees may exercise their one-time opt-out option at any point if they have other coverage.
This option may only be used once and current retirees must be enrolled in an OU medical plan to be eligible. Proof of other coverage must be submitted when the retiree opts out. Retirees who have opted out and wish to return to the OU health plan, have 31 days from the loss of creditable coverage to come back on the OU retiree health plan. To reinstate coverage, a retiree must show proof of continuous coverage for the entire opt-out period to OU Retirement Services. Contact Human Resources for more information or to initiate your opt-out feature.
Retiring doesn’t have to mean that you leave OU behind. We hope that you’ll still be involved with campus activities, enjoy fine arts performances, use the fitness facilities, and so much more. Here are some of the campus perks you can enjoy as an OU retiree.
OU Retiree ID Card: Get your official OU retiree ID card by presenting your retiree letter at your campus ID card office.
The University of Oklahoma Retirees Association's (OURA) purposes is to provide contact, communication, and fellowship among retired employees and, more critically, to monitor and safeguard retiree benefits.
BCBS Medical Plan Information
Rightway Pharmacy Information
Humana MAPD & Part D
Cigna Medicare Surround Plan G with HealthSpring Part D
Rates & Documents
