Retiree Benefits FAQ
Health insurance is available through PEEHIP on the effective date of your retirement should you accept coverage by signing the authorization form. Should a retiree decline coverage under PEEHIP effective the retirement date, it will be necessary to wait until an open enrollment period held July/August—effective October 1. Optional insurance for Cancer, Dental, Vision, etc. is available during open enrollment only – effective October 1. Because notice of availability of COBRA is mandatory, the USA Health & Dental Plan will forward you a COBRA package.
Note: For nine-month faculty members retiring effective 6/1, 7/1 or 8/1 your health insurance with the University will continue through September 30th. Your PEEHIP coverage, if elected, will begin October 1st.
Medicare Coverage: If eligible for Medicare, it is imperative that the retiree or dependent elect Medicare Part A and Part B. PEEHIP coverage pays as a supplement to Medicare for any insured eligible for Medicare.
Yes. All retirees from the University of South Alabama who officially retire under TRS are eligible for the University Retiree Benefit Program.
Life Insurance: Retirees receiving a lifetime income benefit from TRS will have the option to continue basic term insurance and any optional term insurance for a maximum period of 12 months (coverage does not include spouse or dependent coverage). However, the premiums are at full cost, including what the University paid for basic life in addition to the premiums paid for optional coverage. After 12 months, in order to continue the coverage, the retiree would have to request portability, if under age 65, or conversion if 65 or above. Both the portability and conversion options are subject to qualification requirements.
The University will send you a letter regarding retiree benefits including the cost of continuing life insurance.