Human Resources

Current Retiree Benefits

Retiree Medical

In addition to your benefit from the Retirement Plan, the Institution helps provide for your financial security during retirement by providing medical coverage. The cost share Retiree Medical Benefit you receive as a retiree depends upon your age, length of service and the year in which you retire.

Eligibility
To be eligible for the Woods Hole Oceanographic Institution Retiree Medical Plan (the “Retiree Medical Plan”), you must be a Defined Benefit Plan Member age 55 or older with at least 10 years of credited service and a "Regular" status employee at the time of your retirement.

Benefits
The chart below outlines the WHOI contribution toward the cost of the Retiree Medical Plan for eligible employees who retire on or after January 1, 2000: 

Age at Retirement

Under 10 Years of Service at Retirement

10 to 20 Years of Service at Termination

20 to 30 Years of Service at Termination

30 or more Years of Service at Termination

<55

Not Eligible

Not Eligible

Not Eligible

Not Eligible

55-60

Not Eligible

Employer Contribution equals dollar amount of maximum reimbursement for over 65 eligible retirees

60-62

Not Eligible

Employer Contribution equals dollar amount of maximum reimbursement for over 65 eligible retirees

 

Employer Contribution equals dollar amount provided to active employees in elected plan

62-65

Not Eligible

Employer Contribution equals dollar amount of maximum reimbursement for over 65 eligible retirees

65+

Not Eligible

Employer contribution of up to 55% of Medex II premium, Medicare Part B Standard Rate, and Medicare Part D (capped at 55% of $35.00/month) premium.  For 2017, the maximum employer contribution for over 65 eligible retirees not to exceed $179.06 per month. 

Dental Insurance

You may continue your Dental coverage to age 65 by paying the full premium cost. There is no conversion for dental, however, continuation of your dental coverage may continue up to 18 months through the Institution's COBRA program.  COBRA information will be mailed to you once coverage ends. 

Life Insurance

Group Life Insurance may not be continued. If you apply within 30 days after group insurance coverage termination, you may convert to a non-group policy directly with the insurance carrier for Life and AD&D coverage.

The $2,500 Burial Benefit will remain in effect for those who retire on or after age 65 with at least ten years of service, or those who retire before age 65 (age 55-64) with at least twenty years of service.

Traveling Abroad with Medex II

Medicare usually does not provide benefits for services received outside the United States or its territories.  When it does, Medex II would provide benefits for covered services.  When it does not, Medex II provides both the Medex benefits and the benefits normally paid by Medicare for covered services.  Typically the covered services are for urgent or emergency care only.  

However, if the covered member is a resident outside the United States or its territories, Medex II will not provide any benefits.  

Last updated: February 14, 2017