What happens to your benefits when you retire

June 28, 2018

Training

When you reach your retirement date, your employer notifies the 3sHealth employee benefits team. We then mail a package to your home address that outlines your retirement options. Depending on your years of service and retirement age, you may be eligible to receive:

  • A Group Life insurance conversion privilege – you may have the option to convert up to $250,000 of your basic, optional, or dependent life insurance to an individual policy with Great-West Life.
  • Group Life insurance continuation on early retirement – you may have the option to continue all or a portion of your existing life insurance up to age 65 at the same rate you pay as an active plan member.
  • Retired plan member life insurance benefit of $5,000 – you may be eligible to receive a certificate payable to your beneficiaries upon your death.

Extended Health Care and Dental

Eligible plan members may elect to join the Retiree Health and Dental Plan provided through Group Medical Services.

All premium costs are paid by the plan member.

The monthly premium rates, effective June 1, 2018, for the GMS 3sHealth Retiree Benefits Plan are illustrated in the table below:

Rates Health Only   Dental Only   Health and Dental  
Single $83.61 $35.95 $119.56
Couple   $156.92 $71.80 $228.72
Family $187.05 $82.72 $269.77

For more information, please consult this brochure from GMS.


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