Understand the Costs

These rates are effective January 1, 2021.

Monthly Rates

Monthly rates for the Retiree Medical Program vary depending on the number of people that are being covered, their ages, and the plan that is chosen. Faculty emeriti who retired under the Faculty Retirement Incentive Program Early Retirement Option do not pay premiums for themselves or dependents over age 65 enrolled in Medicare.

 Level of Coverage  Aetna Medicare Advantage Plan Aetna Medicare Supplement Plan BCBSIL PPO
One person under age 65     $665
One person age 65 or older $216 $319  
One person age 65 or older and one person under age 65 $881 $984  
Two persons under age 65     $1,330
Two persons age 65 or older $433 $638  
Three or more people all under age 65     $1,995
Three or more people, including one person age 65 or older      
Three or more people, including two people age 65 or older      

The University does not require a separate prescription drug premium. However, Social Security Administration may require an Income Related Monthly Adjustment Amount, as required under the Affordable Care Act, for some retirees based on their income from two years ago. If you have to pay an extra amount, Social Security will send a letter telling you what the extra amount will be and how to pay it.

Changing to rate for age 65 or older

Your monthly premiums will be adjusted to reflect the lower, 65-and-older rate by taking the following actions:

  • Call 1-800-772-1213 to enroll in Medicare Parts A and B three months prior to your 65th birthday.
  • Send a photocopy of your Medicare card showing Part A and Part B coverage to Human Resources - Benefits, Attention: Retiree Medical Plan, 6054 S. Drexel Ave., Chicago, IL 60637.

If you are Medicare-eligible, you must be enrolled in both Medicare Part A and Medicare Part B and not enrolled in Medicare Part D to be enrolled in the Retiree Medical Plan.

Payment methods

University Billing is handled by WageWorks, P.O. Box 660212, Dallas, TX 75266-0212; telephone 1.877.822.9091. You may arrange with WageWorks for direct payments from your checking account for the Retire Medical Program monthly rates.