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Self-Funded Plan

Medical Insurance 2016 - FAQs

Why is Loyola changing the financing of its health insurance?

Loyola is examining all areas of university operations for potential cost savings and efficiencies. Part of this evaluation has included a cost savings analysis of our current medical insurance coverage provided to faculty and staff.

What about our current health insurance will change?

Benefit Summary Plan Descriptions

A Benefit Summary Plan Description (SPD) is a comprehensive document which advises plan participants and their beneficiaries of their rights and obligations under the plan. The document provides a basic written source of data to employees and their beneficiaries on plan benefits requirements for obtaining benefits and limitations on benefits.

To view the summary plan descriptions and other important notices click on the appropriate coverage link for health insurance, dental insurance, life insurance, flexible spending accounts or 403b retirement account.

Benefits Summary for Retired Employees

Loyola defines a retiree as a person who has separated their employment at age 50 or more and has completed 5 or more years of continuous, benefit-eligible service to the University.

Frequently asked questions about retiree insurance benefits - FAQ's

Medical Insurance:

Retirees may elect to continue group medical coverage for themselves and their eligible dependents who are already covered on their date of retirement. Premiums are paid 100% by the retiree.