Submitted for Cheryl A. Freer
We are pleased to update you on Ithaca College’s participation in Emeriti Retirement Health Solutions. The College joins with 40 other colleges and universities in this higher education consortium providing unique, affordable, sustainable, and quality solutions to the important issues surrounding retiree health care. In the first stage of implementation eligible retirees who are 65 and over have the option this fall of enrolling in one of the Emeriti retiree medical plan options for coverage effective January 1, 2007. As we move forward through several stages of implementation of this new plan, we encourage both active faculty and staff members and retirees to learn about this new benefit by reading the communications, attending informational meetings, and taking advantage of informational resources through the Emeriti call center and website.
Active employees should look for a letter soon announcing the new plan and the opportunity to accumulate assets for future retiree medical expenses. The target date for the establishment of accounts is June 1, 2007 with the college contributions retroactive to January 1, 2007. Meetings for active employees will be schedule during the spring semester.
A special letter is being sent to retirees this month. The Emeriti Health Insurance Options are underwritten by Aetna Life Insurance Company and its affiliates and representatives will be holding meetings for interested retirees on campus later this semester. Retirees who attended the Ithaca College Retiree Association meeting in September were briefed about the Emeriti Health Solutions Plan by Marty Turnbull who is a member of the group and who worked with consultants from Harbridge and Pricewaterhouse Coopers to design the program for the college. Retirees who are eligible to participate in Medicare and who are interested in Medicare Part D coverage for 2007 should look carefully at the Emeriti options before they make coverage elections for next year.
The Faculty/ Staff Benefits Committee, the Budget Committee, the Office of Human Resources, the President’s Council and the Academic Council were very involved with the review of the Emeriti Health Solutions Plan and funding the plan was one of the highest priorities in the budget process last year. The Staff Council endorsed the plan and Faculty Council approved a resolution last year supporting the timely adoption of the Emeriti Retirement Health Program. At the May Board meeting, the College’s Board of Trustees accepted the College’s recommendation to join Emeriti Health Solutions in 2007. As you await your information packet and schedule of meetings, we encourage you to visit the Emeriti Health Solutions website at www.emeritihealth.org .