Iowa Bankers Insurance and Services, Inc. understands an employer’s desire to reward its loyal employees and their families with a benefit plan following retirement. IBIS offers participating employers the choice to offer different retiree plans based on the employee’s age when the employee retirees.
Each situation is unique so we recommend employers contact your IBIS territory representative to discuss plan offerings.
Health and Prescription Options for Employees Retiring at Age 65 or Older and Spouses Age 65 or Older
Employees retiring at age 65 or older are eligible for Medicare plans. IBIS offers retirees Medicare Supplement and Medicare Part D plans. The administration and premium billing for these plans are separate from the Iowa Bankers Benefit Plan and the monthly employer billing statement.
Retirees may enroll in the Medicare plan of their choice. The benefit options will vary depending on if the retiree has a spouse and the age of the spouse.
To learn more, visit:
- Medicare Costs at Glance on the Medicare website.
- Medicare Matters, a resource from Wellmark. Whether you’re new to Medicare or want a refresher, this guide can help you understand the costs, benefits and choices offered by the country’s largest health insurance program.
Forms, Resources and Questions
If you have questions about retiree insurance coverage through the IBBP, contact your IBIS territory representative at their direct number or email address, or contact IBIS Customer Service at (800) 258-1415 or benefits@bankers-ins.com.