Considering retirement? Do your homework on your EBF benefits first Thinking about retiring? Retirement is an exciting time in your life, but you must prepare for it carefully. The key to a great retirement is understanding the process and doing your homework before the big event. You also need to consider the answers to such questions as: What will happen to my benefits when I retire? and How much will my benefits cost? The CSEA Employee Benefit Fund (EBF) receives hundreds of calls from members who are about to retire asking these questions. For a smooth transition, follow the steps on this page. Who to contact? Meet with your health benefits administrator if you are a New York state employee or your personnel department if you are a local government or school district employee. They will help you with important information about health insurance options and cost. The New York State Retirement System can assist you with questions on pension. Visit its website at www.osc.state.ny.us/retire or by phone at 1-866-805-0990. Dental and vision care For many CSEA members, dental and vision benefits are not included in their retirement package. CSEA members who have a negotiated EBF benefit have access to COBRA coverage. COBRA is continuation coverage, which means you continue the same benefits you had at the same level (i.e. individual or family) as an active employee for a maximum of 36 months. Rates are based on the employer cost, plus 2 percent. CSEA members employed by New York state and some local government employees also have access to EBF’s Retiree Dental Program. Your employer will notify EBF when your coverage as an active employee has been terminated. The EBF will automatically notify the employee (if the EBF administers COBRA coverage for the employer) of the member’s right to COBRA coverage. Information on the EBF’s Retiree Dental Plan will be included if the member is eligible. Determining the best benefits for you How do you determine the benefits you need into retirement and the plans that suit you best? Evaluate how you used your benefits when you were an active employee. Visit EBF’s website at www.cseaebf.com to find information on the EBF Retiree Dental Plan and other valuable tools, such as dental plan comparisons on the different retiree programs available. Click on Retiree Dental from the white link box on the homepage and scroll down to find the comparisons. You must know the name of your plan to view the correct comparison. We’ve included rates and contact telephone numbers for your convenience. Other considerations Many of you have other considerations, such as needing individual coverage or coverage for dependents. It is important to compare your benefit options. Electing COBRA may be more cost efficient when you have dependents. Members who have no dependents and elect to have dental coverage may be interested in the EBF’s Retiree Dental Plan. The plan is based on the services provided under the state dental program but with a different annual cap ($1,800) and fee schedule. Participating dentists accept the program as payment in full for all covered services. A three-tier rate structure is offered, which allows for individual-only rates that may not be available when electing COBRA. Deadlines for participation Retirees have 60 days from their last date of active employment to respond to the COBRA election notice. Retirees eligible for the EBF Retiree Dental Plan have a maximum of 90 days from their last date of employment to participate in EBF’s plan. Pearl Carroll & Associates offers two retiree dental programs and a retiree vision program. Pearl Carroll has no deadlines for participation. Information on these programs can be found in the CSEA Retirement Guide. New York state employees also have access to the GHI dental program (Emblem Health). Did you know CSEA prints an 18-month Retirement Planner? The Retirement Guide is available through the Member Benefits Department at 1-800- 342-4146. Still unsure? There is a lot of information for you to evaluate. If you have questions about the differences in COBRA or EBF’s Retiree Dental Program, please contact EBF to speak with the COBRA or Retiree Dental Unit at 800-323-2732. November 2013 The Work Force 17
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