We have contracted with Lifetime Benefit Solutions to administer, bill, and collect the health care premiums from all of our retirees who have the Penn State medical benefit.
For new retirees, after your retirement has been processed electronically in Workday, your retiree medical billing information will automatically be sent to Lifetime Benefit Solutions.
Your first Retiree Bill should come approximately two to three weeks AFTER your retirement. Payment is due within 60 days of receipt of your first Retiree Bill.
Retirees have the option to set up a monthly automatic withdrawal from a designated bank to pay for your retiree billing premiums. The information to establish the automated payments will be included in your first retiree bill.
If you do not set up automatic payment, you will be billed on a quarterly basis. Your premium payments are due on the 1st day of each calendar quarter and you will have a 60 day grace period. Premium due dates are: January 1, April 1, July 1 and October 1; your 60 day grace period will begin on the date after the payment due date. Please call Lifetime Benefit Solutions to discuss all of your payment options.
- Retiree Welcome Letter
- Frequently Asked Questions - Retiree Billing Administrator
NOTE: You will receive a COBRA Notification extending coverage for medical, dental and vision; this notice is required by law, even if you are eligible for retiree medical coverage. If you are retiring with Penn State Retiree Medical, you should decline the offer for extended medical coverage. Failure to complete the COBRA Enrollment within 60 days is considered an automatic decline of the coverages offered.