Retiree Benefits & Information

If you are retiring and will be receiving a pension from the City or Mass Teachers you will be eligible to continue with some benefits. The following information may be helpful for you.

Health Insurance:

MMIIA/Blue Cross Blue Shield of Massachusetts (Under 65): 

• Under age 65 you will remain on the HMO or PPO health insurance you currently are on. The premiums will be deducted from your Mass Teachers pension or the City’s retirement pension each month.

MMIIA/Blue Cross Blue Shield of Massachusetts (Over 65): Please read IF YOU ARE TURNING 65 for full information.

• Once you turn 65, and are retired, you must sign up for Medicare Parts A & B. Medicare Part A is free, Part B you need to pay for. Part A is for hospital coverage Part B is for doctor's visits. It is based on your individual income and is paid from your Social Security check.
• Medex 2 is a Medicare supplemental health insurance from Blue Cross/Blue Shield available through the City.  It is supplemental "donut hole coverage", it pays for whatever Medicare Part B does not as well as your prescriptions and is paid from your pension check. Medicare and Medex work together to provide similar coverage to what you would have received on your active HMO or PPO plan.
• If you or your spouse are 65 or turning 65 and have children on your health insurance please read the information on the IF YOU ARE TURNING 65 handout which is attached below. This should answer most of your questions.

• BC/BS Medex with Hearing Summary of Benefits
• BC/BS (Medex) Blue MedicareRx Summary of Benefits 
• BC/BS (Medex) Blue MedicareRx List of Covered Drugs

Dental Insurance:

When you retire you will be required to sign up for the Retiree Dental Plan.  You can opt for singe, plus one or family plan and premiums will be deducted from your Mass Teachers pension or the City’s retirement pension each month.  If you choose to decline when you retire, the City will allow retirees to re-enter the program on an open enrollment basis every 12 months at the open enrollment period in the Spring with a July 1st effective date.

• Altus Retiree Plan - City Retirees
• Altus Retiree Plan- Teacher Retirees

Health Reimbursement Account (HRA):

Retired Subscribers on the City’s health insurance plan can get assistance for extraordinary Rx prescription expenses from their Health Reimbursement Account (HRA) . After the first $300 of your out of pocket Rx cost, you can be reimbursed for your out of pocket prescription costs. Reimbursement dollars are limited and no longer available once HRA dollars are exhausted or the plan year ends, whichever comes first.