A one-time opt-out/opt-in feature was added to the retiree medical plan effective Jan. 1, 2013. Retirees will be allowed to opt-out of retiree medical coverage and preserve future eligibility. The premium subsidy will be locked in at the retiree's rate at the time of opt-out. Retirees may exercise their one-time opt-out option at any point if they have other coverage.
This option may only be used once and current retirees must be enrolled in an OU medical plan as of Dec. 31, 2012 to be eligible. Proof of other coverage must be submitted when the retiree opts out. Retirees who have opted out and wish to return to the OU health plan, have 31 days from the loss of creditable coverage to come back on the OU retiree health plan. To reinstate coverage, a retiree must show proof of continuous coverage for the entire opt-out period to PayFlex or the current vendor. Contact Human Resources
for more information or to initiate your opt-out feature.