What You Need to Know
Healthcare may be one of your biggest expenses and concerns during retirement, so it’s important to plan ahead and understand your coverage options, as well as how Medicare will work for you.
Sandia partners with Via Benefits to help you navigate, understand, and enroll in the best plan for you.
Benefit Transition Process
As you begin planning for retirement, be sure to know when your Sandia employee benefits end and retiree benefits begin.
Here’s a summary, and you can get more details on the transition process through HR Solutions.
Medical and prescription drug coverage
- Your employee medical coverage continues through the end of the month in which you completed your last day on roll as an employee (your last day of employment immediately preceding your retirement date).
- You default into equivalent coverage after retirement, unless you make a change (see How to Enroll below).
- Retiree benefits begin the first of the month following your last day on roll as an employee.
- You continue to use your Sandia medical ID card.
Dental and vision coverage
- Your employee coverage continues through the end of the month in which you completed your last day on roll as an employee (your last day of employment immediately preceding your retirement date).
- You default into equivalent dental coverage after retirement, unless you make a change (see How to Enroll below).
- Retiree dental benefits begin the first of the month following your last day on roll as an employee.
- Vision insurance does not continue into retirement.
- You may continue vision insurance coverage through COBRA. You pay the full cost.
Voluntary life and accident insurance coverage
- If you are enrolled at retirement, your coverage will automatically continue.
- MetLife will contact you with options to continue your coverage into an individual plan. Initially, your premium will not change – you pay the full cost.
Medical and prescription drug coverage
- Your medical coverage continues through the end of the month in which you completed your last day on roll as an employee (your last day of employment immediately preceding your retirement date).
- You need to enroll in Medicare Parts A and B. Contact Via Benefits to speak with a benefit advisor about Medicare plan options.
- Retiree benefits begin the first of the month following your last day on roll as an employee.
- Use your Medicare ID card and/or card from your new Medicare plan.
Dental and vision coverage
- Your employee coverage continues through the end of the month in which you completed your last day on roll as an employee (your last day of employment immediately preceding your retirement date).
- You default into equivalent dental coverage after retirement, unless you make a change (see How to Enroll below).
- Retiree dental benefits begin the first of the month following your last day on roll as an employee.
- Vision insurance does not continue into retirement.
- You may continue vision insurance coverage through COBRA. You pay the full cost.
Voluntary life and accident insurance coverage
- If you are enrolled at retirement, your coverage will automatically continue.
- MetLife will contact you with options to continue your coverage into an individual plan. Initially, your premium will not change – you pay the full cost.
Who’s Eligible for Retiree Health?
The retiree health plan summary plan description, available through HR Solutions, describes the criteria for retiree health coverage.
In general, you need to meet specific age and Sandia service requirements. Certain employee groups are not eligible, including:
- Non-represented employees hired (or rehired) on or after January 1, 2009
- Office and Professional Employees International Union (OPEIU)-represented employees hired (or rehired) on or after July 1, 2009
- Metal Trades Council (MTC)- and Security Police Association (SPA)-represented employees hired (or rehired) on or after July 1, 2010
Also, if you are married to another Sandia employee who is eligible for benefits, you are considered a dual Sandian, and special rules apply for you.
Need help understanding your eligibility for retirement benefits?
Contact an HR Solutions representative.
Your Retiree Health Coverage Options and Costs
Refer to the benefit choices and enrollment guides available through Via Benefits. The guides provide details about eligibility, your coverage options, and how to enroll in benefits.
Your coverage options depend on your retirement date as noted below.
You continue to have access to Sandia Total Health, administered by Blue Cross and Blue Shield of New Mexico, Kaiser Permanente, and UnitedHealthcare and the Sandia High Deductible Health Plan (HDHP) administered by Blue Cross and Blue Shield of New Mexico and UnitedHealthcare.
Assuming you are enrolled in Medicare Parts A and B, you may choose a Sandia-sponsored Medicare Advantage plan, or you can choose Sandia’s Your Spending Arrangement (YSA)*, which provides credits for purchasing coverage through a healthcare exchange.
*The Your Spending Arrangement program and the option for coverage on the individual Medicare plan exchange will not be offered as of January 1, 2024.
You continue to have access to Sandia Total Health, administered by Blue Cross and Blue Shield of New Mexico, Kaiser Permanente, and UnitedHealthcare.
Assuming you are enrolled in Medicare Parts A and B, you have access to Sandia’s Your Spending Arrangement (YSA), which provides credits for purchasing a Medicare Advantage plan or supplemental coverage through a healthcare exchange.
Refer to the benefit choices and enrollment guides available through Via Benefits to see your costs.
PreMedicare retirees: Some Sandia employees may be eligible to receive a Sandia-provided subsidy to help pay for health coverage. If you are eligible, the subsidy amount is based on your years of service and coverage level.
Medicare-Eligible retirees: The monthly cost is based on the plan you select.
What is YSA?
Sandia provides what is called the Your Spending Arrangement (YSA) program to Medicare-eligible retirees.
The YSA gives you credits for purchasing Medicare Advantage, Medigap (also known as Medicare Supplement), and prescription drug coverage options from more than 100 of the nation’s largest health insurance companies.
Your YSA credit amount is based on your years of service with Sandia.
How to Enroll in Retiree Health Coverage
As part of the retirement process, Sandia automatically sends your eligibility and enrollment information to Via Benefits.
You will be automatically enrolled in Sandia retiree health benefits.
Via Benefits will send you a billing statement 30 days after your retirement.
To make changes, contact Via Benefits within 31 calendar days of your retirement date.
You must be enrolled in Medicare Parts A and B before you can enroll for Sandia retiree health benefits.
Call Via Benefits to speak with a licensed benefit advisor who can help you make informed decisions and process your enrollment.
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Quick Tip
Watch your home mailbox
About three weeks after you start the retirement process, you will receive materials mailed to your home address:
- PreMedicare retirees will receive a welcome packet.
- Medicare-eligible retirees will receive a welcome packet containing a benefits and enrollment guide, along with a phone call from Via Benefits.
You can contact Via Benefits directly at 888-598-7809, if you have questions.