Page 12 - KCCU Health & Welfare SPD

Health Coverage after You Retire
Employees are eligible to continue participation in the health plan (medical/prescription
drugs/dental/vision coverage) after retirement if they qualify for post-retirement coverage and
are eligible for post-retirement coverage (other than COBRA continuation coverage) under a
health insurance contract designated by the credit union.
As with pre-retirement coverage, your eligibility for post-retirement coverage under the health
insurance contract depends on the contract, and all post-retirement coverage is subject to the
terms and conditions of the contract and the policies and procedures of the insurer.

Qualification Requirements for Post-Retirement Coverage
If you are an employee of the credit union, you qualify for post-retirement coverage if you
(1) retire from eligible full-time employment* with the credit union and the sum of your age
and years of service with the credit union is at least 75, and
(2) are covered under a health insurance contract at the credit union at time of retirement

* An employee is engaged in eligible employment services if the employee is regularly
scheduled to work 37 or more hours per week.

Coverage for Your Spouse

Your spouse also qualifies for post-retirement coverage if
(1) you qualify for post-retirement coverage, and
(2) you are married to the spouse as of the date you retire, and

(3) you have been married to the spouse throughout the one-year period ending on the date
of your retirement, and

(4) your spouse is also covered under the health insurance contract as of your retirement
date.

Cost of Coverage
You will be expected pay the cost for your post-retirement health coverage for your and, if
applicable, your spouse, as designated by the credit union’s Retiree Policy in the employee
handbook. The credit union shall make arrangements with you to collect these funds monthly
on a designated date from your account at the credit union.

Termination of Your Coverage

Your post-retirement coverage will terminate on the earliest of the following events (subject to
COBRA coverage continuation rights if the event is a qualifying event):

(1) You voluntarily request to be removed from coverage,
(2) You fail to pay the designated premium within 30 days of the agreed upon date each
month,
(3) You enroll in another medical plan (group or individual),

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