MEDICAL PLAN BENEFITS For Medtronic Retirees

Learn about the medical benefits available for Medtronic retirees and their qualifying dependents, including:


Plan Summaries

2018 Pre-65 Retiree medical plan summaries

*The HRA low plan was only available if you or your spouse were already enrolled in that retiree plan as of January 1, 2017; other plans were only available if you or your spouse were already enrolled in that retiree plan option as of January 1, 2013.

2018 Pre-65 Retiree Medical Plan Booklets


Retiree Medical Account (RMA)

The pre-65 RMA has specific requirements about what can be reimbursed. Expenses that can be reimbursed from the RMA include:

  • Retiree medical premiums through the Medtronic retiree medical plans
  • Retiree medical premiums through another retiree plan (i.e., through a spouse’s retiree medical plan)
  • Individual policies

For those retirees who have an RMA and Medtronic pre-65 retiree medical coverage, you can elect to have your Medtronic retiree medical coverage paid (in part or in full) from your RMA at the time you retire. 

For those retirees who elect to use the RMA to pay for retiree medical coverage through a spouse’s plan or an individual policy, you must complete and return the form below, along with your supporting documentation showing proof of payment, to WageWorks annually. Please disregard section 3 of the claim form, as “Other Expenses” are not reimbursable under the RMA.

When you turn 65 (or otherwise become Medicare-eligible), the remaining value from the RMA will be transferred to a Retiree Health Reimbursement Account to help pay for healthcare premiums and other eligible expenses.
 

Retiree Eligibility

You meet the definition of retirement if you are:

  • Age 55 with at least 10 years of service
  • Age 62 regardless of years of service

You are eligible for retiree medical benefits if, at the time of retirement, you are:

  • A participant earning a benefit in one of the following plans:
    • Medtronic Retirement Plan (MRP)
    • Personal Pension Account (PPA)
    • Personal Investment Account (PIA)
  • Enrolled in the Medtronic Medical Plan

Medtronic retiree health plan coverage, including medical, dental, and vision coverage, is not available to Medicare-eligible retirees age 65 and older. You will need to purchase new health insurance through the individual market to help cover services and costs that may not be fully covered by Medicare. 


Dependent Eligibility

Medtronic retiree health plan coverage, including medical, dental, and vision coverage, is available to eligible dependents under age 65.

If currently enrolled at the time of retirement, your dependents are eligible to continue coverage. Dependents cannot be added after retirement. Child eligibility differs between the active medical, dental, and vision plans and the Medtronic pre-65 retiree health plan. Under the retiree plans, dependents can be covered from birth to age 25. For retiree medical, your child must be unmarried. For ages 19–25, your child must be a full-time student, and your child must reside with you (except in certain divorce situations) and cannot provide over half of his or her own support.

back to top


Turning 65

Medtronic retiree health plan coverage, including medical, dental, and vision coverage, is not available to Medicare-eligible retirees age 65 and older. You will need to purchase new health insurance through the individual market to help cover services and costs that may not be fully covered by Medicare. 

Here are a few things you need to know when you or your spouse is turning 65:

  • Medtronic will help you transition to individual health insurance by offering access to the Aon Retiree Health Exchange. The Exchange gives you access to a variety of insurance carriers that offer a range of healthcare plans, benefits, costs, and premiums. It also offers education, online selection tools, and a benefits advisor who will work one-on-one with you to help you select the individual health insurance that best meets your needs.  
  • If your spouse or dependent child(ren) are covered under the Medtronic pre-65 retiree health plan, their coverage will continue as long as they remain eligible or until they reach age 65 or are otherwise Medicare-eligible (provided the applicable premiums are paid). The plan cost and subsidy, if applicable, will be adjusted (i.e., from couple pre-65 coverage to single pre-65 coverage).
  • If you are eligible for the retiree medical subsidy, the subsidy will end, and a Retiree Health Reimbursement Account will be provided to help pay for the cost of healthcare.
  • If you have a retiree medical account (RMA), the remaining value from the RMA will be transferred to a Retiree Health Reimbursement Account to help pay for healthcare premiums and other eligible expenses.
  • If you are enrolled in retiree life insurance, your current election will continue.

What You Need to Do

  • If you have yet to do so, contact the Social Security Administration to receive and complete the forms necessary to apply for Medicare. 
    • To apply for Medicare benefits, call the Medicare Hotline at 800-772-1213. Medicare benefits begin the first of the month in which you turn 65. If your date of birth is the first day of a month, then the Medicare benefits begin the first of the month prior to your birth month (i.e., a Nov. 1 birthday means Medicare benefits start Oct. 1). 
  • Watch for more information that you will receive in the mail from the Aon Retiree Health Exchange.

back to top