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Planning for Retirement and Retiree Benefits
Planning for Retirement
The decision to retire is definitely one of the biggest made in your lifetime. The information contained herein describes your options as a retiree from the University of Maine System (UMS). Board of Trustees policy provides retirement benefits for employees who have 10 years of continuous, regular full-time equivalent service immediately preceding retirement, and who are at least age 55. The following resources are available to aid your decision to retire:
- NEW! Plan your retirement in MaineStreet Employee Self-Service
- Planning for Retirement Frequently Asked Questions
- Retirement Guide for Salaried Employees (PDF) with Checklist
- Retirement Guide for Hourly Employees (PDF) with Checklist
- Partial/Phased Retirement Program (PPRP)
-
- Incentive Retirement Plan (IRP)
*PPRP and IRP are available only to eligible salaried employees
Announcements
2020 Retiree Open Enrollment Information is now available
- 2020 NON-Medicare Open Enrollment Info Sheet
- 2020 Medicare Open Enrollment Info Sheet Info Sheet (65 and OLDER)
- 2020 Retiree Rates are now available (See Premium Rates Link below)
Health Insurance for Non-Medicare Eligible Retirees
CIGNA OAP Plan Documents:
Health Insurance for Medicare-Eligible Retirees
Important Notice: Effective for UMS employees who retire and their last day worked is on or after January 1, 2017 (September 1, 2017 for AFUM), Medicare eligible UMS retirees at the time of retirement or those reaching Medicare eligibility after retirement will pay 20% of their individual monthly health premium and 50% of any applicable dependent monthly health premium.
2020
- 2020 Aetna Medicare Plan PPO Design & Benefits
- 2020 Aetna Medicare Plan PPO Extended Service Area (ESA) Annual Notice of Changes (The Aetna Medicare PPO ESA Plan has an extended service area. This means that Aetna may provide coverage even if you live outside the Aetna Medicare network service area.)
2019
- 2019 Aetna Medicare Plan PPO Design & Benefits
- 2019 Aetna Medicare Plan PPO Extended Service Area (ESA) Annual Notice of Changes (The Aetna Medicare PPO ESA Plan has an extended service area. This means that Aetna may provide coverage even if you live outside the Aetna Medicare network service area.)
Retirement Dental Insurance Plan
All Eligible Retirees
Premium Rates
Important Notice: Effective for UMS employees who retire and their last day worked is on or after January 1, 2017 (September 1, 2017 for AFUM), Medicare eligible UMS retirees at the time of retirement or those reaching Medicare eligibility after retirement will pay 20% of their individual monthly health premium and 50% of any applicable dependent monthly health premium.
2020 Rates
- 2020 Rate Chart- for UMS Retirees Who Retire as of 1/1/17 or Later
- 2020 Rate Chart- for UMS Retirees Who Retired 1/1/11 Thru 12/31/16
- 2020 Rate Chart- for UMS Retirees Who Retired Prior to 1/1/11
2019 Rates
- 2019 Rate Chart- for UMS Retirees Who Retire as of 1/1/17 or Later
- 2019 Rate Chart- for UMS Retirees Who Retired 1/1/11 Thru 12/31/16
- 2019 Rate Chart- for UMS Retirees Who Retired Prior to 1/1/11
The following 2019 -2020 monthly medical rate chart represents some of the most common categories of eligibility and coverage for new retirees. See the full Health Premium Chart for other rates.
Retiree Medicare Status Spouse Medicare Status Plan & Coverage Level 2019 Monthly Premium Rate 2020 Monthly Premium Rate
Eligible Eligible Aetna- Retiree + 1 $183 $192
Eligible Not Eligible Aetna- Retiree
Copay - Spouse $877 $880
Not Eligible Eligible Copay - Retiree
Aetna- Spouse $1911 $2,033
Eligible No Spouse Aetna - Retiree Only $52 $55
Not Eligible Not Eligible Copay - Retiree + 1 $3,630* $3,870*
Not Eligible No Spouse Copay - Retiree Only $1,650* $1,653*
n/a n/a Dental - Retiree Only $57.06 $57.06
n/a n/a Dental - Retiree + 1 $104.55 $104.55
*Note: If you are not yet Medicare eligible at the time of your retirement, you have a one-time option to cease (opt out of) coverage with an opportunity to re-enroll (opt back into) the plan, provided that the election to re-enroll occurs no later than ninety (90) days after you become eligible for Government Medicare A & B and you provide proof that you had continuous health coverage during the entire opt out period for yourself and any eligible dependents who will now be enrolled. Click for more detailed information on the opt out and re-enrollment provision and frequently asked questions. The Health Insurance Marketplace (healthcare.gov) offers eligible individuals an opportunity to purchase health insurance or see if they qualify for free or low-cost subsidized coverage. COBRA continuation of benefits is also available for 18 months after retirement.
Vendor Contact Information
Related Information for Retirees
The decision to retire is definitely one of the biggest made in your lifetime. The information contained herein describes your options as a retiree from the University of Maine System (UMS). Board of Trustees policy provides retirement benefits for employees who have 10 years of continuous, regular full-time equivalent service immediately preceding retirement, and who are at least age 55. The following resources are available to aid your decision to retire:
- NEW! Plan your retirement in MaineStreet Employee Self-Service
- Planning for Retirement Frequently Asked Questions
- Retirement Guide for Salaried Employees (PDF) with Checklist
- Retirement Guide for Hourly Employees (PDF) with Checklist
- Partial/Phased Retirement Program (PPRP)
- Incentive Retirement Plan (IRP)
*PPRP and IRP are available only to eligible salaried employees
2020 Retiree Open Enrollment Information is now available
- 2020 NON-Medicare Open Enrollment Info Sheet
- 2020 Medicare Open Enrollment Info Sheet Info Sheet (65 and OLDER)
- 2020 Retiree Rates are now available (See Premium Rates Link below)
CIGNA OAP Plan Documents:
Important Notice: Effective for UMS employees who retire and their last day worked is on or after January 1, 2017 (September 1, 2017 for AFUM), Medicare eligible UMS retirees at the time of retirement or those reaching Medicare eligibility after retirement will pay 20% of their individual monthly health premium and 50% of any applicable dependent monthly health premium.
2020
- 2020 Aetna Medicare Plan PPO Design & Benefits
- 2020 Aetna Medicare Plan PPO Extended Service Area (ESA) Annual Notice of Changes (The Aetna Medicare PPO ESA Plan has an extended service area. This means that Aetna may provide coverage even if you live outside the Aetna Medicare network service area.)
2019
- 2019 Aetna Medicare Plan PPO Design & Benefits
- 2019 Aetna Medicare Plan PPO Extended Service Area (ESA) Annual Notice of Changes (The Aetna Medicare PPO ESA Plan has an extended service area. This means that Aetna may provide coverage even if you live outside the Aetna Medicare network service area.)
All Eligible Retirees
Important Notice: Effective for UMS employees who retire and their last day worked is on or after January 1, 2017 (September 1, 2017 for AFUM), Medicare eligible UMS retirees at the time of retirement or those reaching Medicare eligibility after retirement will pay 20% of their individual monthly health premium and 50% of any applicable dependent monthly health premium.
2020 Rates
- 2020 Rate Chart- for UMS Retirees Who Retire as of 1/1/17 or Later
- 2020 Rate Chart- for UMS Retirees Who Retired 1/1/11 Thru 12/31/16
- 2020 Rate Chart- for UMS Retirees Who Retired Prior to 1/1/11
2019 Rates
- 2019 Rate Chart- for UMS Retirees Who Retire as of 1/1/17 or Later
- 2019 Rate Chart- for UMS Retirees Who Retired 1/1/11 Thru 12/31/16
- 2019 Rate Chart- for UMS Retirees Who Retired Prior to 1/1/11
The following 2019 -2020 monthly medical rate chart represents some of the most common categories of eligibility and coverage for new retirees. See the full Health Premium Chart for other rates.
Retiree Medicare Status | Spouse Medicare Status | Plan & Coverage Level | 2019 Monthly Premium Rate | 2020 Monthly Premium Rate |
|---|---|---|---|---|
| Eligible | Eligible | Aetna- Retiree + 1 | $183 | $192 |
| Eligible | Not Eligible | Aetna- Retiree Copay - Spouse | $877 | $880 |
| Not Eligible | Eligible | Copay - Retiree Aetna- Spouse | $1911 | $2,033 |
| Eligible | No Spouse | Aetna - Retiree Only | $52 | $55 |
| Not Eligible | Not Eligible | Copay - Retiree + 1 | $3,630* | $3,870* |
| Not Eligible | No Spouse | Copay - Retiree Only | $1,650* | $1,653* |
| n/a | n/a | Dental - Retiree Only | $57.06 | $57.06 |
| n/a | n/a | Dental - Retiree + 1 | $104.55 | $104.55 |
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Contact Us
You can count on support from knowledgeable and responsive staff when you have a benefits question or problem. Just call or send us an e-mail. We’re here to help!
KarlaTammie Ann
Zachary Fred UMS Employee Benefits Center Email: benefits@maine.edu
Toll-Free: 1 (866) 269-9635
Local: (207) 973-3373
Fax: (207) 561-3454
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