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, a "Regular" status employee at the time of your retirement, and commence benefit payments immediately following separation (i.e. your retirement date).

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

The WHOI Retiree Medical Plan does not provide dental coverage for retirees.  However, per Federal COBRA law, employees are enrolled in dental at the time of termination are offered COBRA continuation of their dental coverage.  Under COBRA a retiree may continue the dental coverage for up to 18 months by paying the COBRA (102% of premium) cost.  For the period of time a retiree is under 65 the cost is 100% of the cost, whereas the period of time after age 65 the cost is 102% of the premium.

COBRA information will be mailed to you by our third-party vendor upon termination of employment.

Life & AD&D Insurance

Group Life and Accidental Death & Dismemberment (AD&D) Insurance ends upon termination of employment.  Within 31 days of your termination date, you may convert your life insurance to an individual policy directly with the insurance carrier.  This information will be mailed to you directly by the insurance carrier.

Burial Benefit

Eligible employees that retire at age 65 or older with at least ten (10) years of service or at 55 with at least twenty (20) years or service are eligible for a one-time $2,500 burial benefit payable to their beneficiary at the time of the retirees death. 

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: April 7, 2017