Retiree Health Care Benefits
TVA offers medical coverage to eligible retirees and their eligible dependents.
Retirees and their eligible dependents not yet eligible for Medicare may choose from medical plan options that include medical, prescription-drug coverage, and vision-care benefits. The benefit plans available to eligible retirees for 2016 are described in Medical Plan 2016 (PDF, 285 kb). More detailed information can be found in Medical Plan Description (to be updated in January).
Note: When retirees and their eligible dependents become eligible for Medicare, they cannot continue in these plans but are instead eligible for coverage under the TVA-sponsored Medicare Supplement plan described below.
Summary of Benefits and Coverage
In accordance with the Patient Protection and Affordable Care Act, a Summary of Benefits and Coverage (SBC) for the TVA Medical Plan options is being made available to you. The SBC provides information to help you understand your medical plan options and make decisions about which medical plan to choose.
View and/or print the TVA Medical Plan’s SBCs below.
To have a copy sent to you free of charge, contact TVA Employee Benefits at TVAEmployeeBenefits@tva.gov, or call TVA Connect at 1-888-275-8094 (toll-free), (423) 751-8800 (Chattanooga), (865) 632-8800 (Knoxville) or (800) 848-0298 (TDD/TTY-TN Relay Service).
Retirees and their eligible dependents that are eligible for Medicare are eligible for a Medicare Supplement plan. The Medicare Supplement plan includes prescription-drug coverage that meets the requirements of Medicare’s Part D prescription-drug coverage. Retirees and their dependents covered under the TVA-sponsored Medicare Supplement plan receive their Medicare Part D coverage through the TVA plan and do not have to enroll in another Medicare Part D plan.
Note that the Medicare Supplement plan does not include vision coverage; however, you will be eligible for discounts on vision care services and supplies.
View information on the 2016 Medicare Supplement plan, including prescription-drug coverage and vision discounts below.
For additional information on medical benefits available to TVA retirees, contact TVA Employee Benefits by calling TVA Connect at (888) 275-8094 or e-mail at TVAEmployeeBenefits@tva.gov.
Retiree medical forms
Retiree Medical Plan Bank Draft Authorization Form (TVA Form 17534)
To be used by retirees to authorize automatic bank drafts for collection of medical coverage premiums.
Retiree Status Change Form (TVA Form 17312A)
To be used by retirees to report life-event changes affecting medical coverage, including death, divorce or changes in dependent eligibility.
Health Savings Account
A Health Savings Account, or HSA, is available to retirees who are enrolled in TVA’s Consumer-Directed Health Plan (CDHP). The HSA gives you, the consumer, more control over how and when you spend your healthcare resources.
The HSA trustee is HSA Bank. The HSA trustee holds your balances for you, receives and records contributions and processes distributions. TVA contributions to the HSA are made to HSA Bank. TVA’s contributions for 2015 to the HSA are $600/individual and $1,200/family. The maximum annual HSA contribution from all sources is $3,350/individual and $6,750/family. The maximum is set by the IRS. If you are age 55 or older you can also make additional “catch-up” contributions. The maximum annual catch-up contribution is $1,000.
There is a monthly HSA administrative fee of $1.75 if your account balance is under $3,000. There is no fee if you maintain a balance of $3,000 or more.
Important: If you currently have an HSA with HSA Bank you do not need to take any action. If you continue to be enrolled in the CDHP in 2016, TVA will deposit its HSA contribution to your account.
If you are a new retiree, please refer to the Benefits Summary for Terminating Employees for instructions regarding your HSA.
View information on the Health Savings Account below.
The retiree dental insurance plan is designed to help retirees with the cost of dental expenses. This plan is not tied to the retiree medical plan. Future retirees may choose not to enroll in dental but still maintain their medical coverage.
Delta Dental Plan of Tennessee is the carrier for this benefit. Delta allows participants to use any dentist, but offers incentives to those who choose a participating dentist. Visit Delta Dental’s Web site for a list of participating dentists.
Effective January 1, 2016, the monthly premiums are $33.42 for individual coverage and $78.87 for family coverage.
Future retirees who wish to enroll must sign up within 30 days of their retirement. Coverage will be effective the first of the month following Delta Dental’s receipt of the enrollment form.
The following documents outline the dental plan and provide forms that can be printed out and mailed to Delta Dental.
Guidelines for Retiree Dental. Explains participants’ responsibilities under the plan, eligibility, payment of premiums, and more (58 kb).
Federal Long Term Care Insurance
The U.S. Office of Personnel Management offers this program to all federal employees and retirees, including those from TVA. Spouses and adult children of retirees are also eligible to enroll.
The program is designed to help with the costs of nursing-home care, assisted-living facilities, in-home care and other expenses not covered by medical plans. It is offered through Long Term Care Partners, a partnership of MetLife and John Hancock.
Those who wish to enroll in the program must request an enrollment application packet from Long Term Care Partners. TVA does not have application packets. Enrollment packets can only be requested from the Long Term Care Partners Web site or by calling (800) 582-3337.
The Web site has information on plan premiums and coverage options, as well as average nursing-home costs for major U.S. cities. The site also lists the health questions that all applicants are required to answer before being approved for coverage.
The premiums for this coverage are paid entirely by the retiree. Premiums can be paid through a deduction from the monthly pension benefit.
Prescription Safety Eyewear
The safety eyewear program is a courtesy offering as part of a contract with TVA’s safety eyewear vendor.
Retirees may purchase prescription safety eyewear at TVA’s discounted price, however, the retiree must be able to access the internet for instructions and to print out the form needed for their prescription eyewear provider.