Common use of RETIREE-PAID HEALTH INSURANCE PROGRAM Clause in Contracts

RETIREE-PAID HEALTH INSURANCE PROGRAM. Teachers retiring after their fifty-fifth (55th) birthday who do not meet the service requirements shall have the option at the time of their retirement to continue membership in District's medical, dental and vision group insurance plans at the retiree's expense. a. Such continued coverage is available only for retirees who maintained coverage as an active employee and sign up for continued coverage immediately after the end of their employment without a lapse in coverage. b. Payments for benefit coverage shall be made on a monthly basis by the insured prior to the premium due date. c. Failure to make said timely premium payment may result in cancellation of group insurance. d. In order to continue such coverage beyond the insured's sixty-fifth (65th) birthday, the retiree and/or dependents shall, when eligible without additional cost to the insured, be required to enroll in Medicare Part A. In any case, the retiree and/or dependents shall be required to enroll in Medicare Part B by payment of the required premiums. e. The District agrees to inform potential retirees of the cost, payment procedures, payment changes, and premium due dates at the time of their retirement.