Retiree Insurance

Eligibility

If you are eligible for Insurance benefits with the OLDC-OCA Insurance Fund when you retire from the LDC&C Pension Fund of Ohio (or certain other affiliated pension funds), you are eligible for subsidized Retiree Insurance once you have exhausted or waived your COBRA benefits.

 

If you are not interested in enrolling in the Retiree Insurance Program with the OLDC-OCA Insurance Fund, you can decline coverage on the Retiree Insurance Application. However, if you decline the Retiree Insurance, you forfeit your right to enroll in the Retiree Insurance Program at any time in the future. Additionally, failure to return a completed Retiree Insurance Application will be construed as a forfeiture of Retiree Insurance.

Determining The Amount Due

Your monthly amount due for Retiree Insurance is calculated using all of the following factors:

  • The number of pension credits you accumulated
  • Individual or family coverage
  • Your age
  • The age of your dependents

Retire Insurance Rates:

Member Only (not on Medicare) $636
Member Only (on Medicare) $379
Family Coverage (all primary) $1324
Family Coverage (one secondary/Medicare) $1055
Family Coverage (all secondary/Medicare) $785

Once your monthly unsubsidized Self-Pay Rate is determined, your subsidy percentage (discount amount) is calculated based on the number of Pension Credits you have earned with the LDC&C Pension Fund of Ohio (or certain other eligible pension funds). Your monthly Self-Pay rate is reduced 2% for each Pension Credit you have earned. If your total number of credits is not a whole number, your credits will be rounded to the nearest whole year (.5 and over is rounded up and under .5 is rounded down).

Retiree Insurance Subsidy Examples

Example 1:
Sam has 27 pension credits, and he and his wife are both under age 65 and not on Medicare. Without the subsidy, Sam would have to pay $1,324 a month for coverage for himself and his wife. However, Sam gets a subsidy of 54% for his credits (27 credits x 2%). Therefore, Sam only pays $609.04.

$1,324 x 54% = $714.96
$1,324-$714.96 = $609.04

Example 2:
Jim retired with 28 pension credits at age 65. Jim is on Medicare, but his wife (age 63) is not on Medicare yet. Without the subsidy, Jim would have to pay $1,055 a month for coverage for himself and his wife. With the 56% subsidy (28 credits x 2% = 56%), Jim only pays $464.20.

$1,055 x 56% = $590.80
$1,055 – $590.80 = $464.20

Returning to Work

If your monthly pension benefit is suspended due to Disqualifying Employment (employment that causes your monthly pension benefit to be suspended), you could lose the Retiree Insurance Subsidy for the rest of your life. Please give this much consideration if you return to work after you retire. If you have any questions about what work constitutes Disqualifying Employment please consult the Pension Summary Plan Description or contact the Pension Department.

 

If you return to work, you will re-establish eligibility under Class 1 Program (active members) once you work at least 1,000 hours in a 12-consecutive month period. Your hours must be reported and paid by a signatory contractor. Class 1 coverage begins the first day of the month following the month in which you meet the 1,000-hour requirement. Until Class 1 coverage begins, you will continue to be covered under the Retiree Insurance Program as long as you continue to make timely payments to Ohio Laborers Benefits.

Work that DOES NOT Affect Your Benefits
  • Employment outside the construction industry.
  • Employment in a construction trade other than laboring.
  • Employment outside of Ohio (even laboring), except in Boone, Campbell, or Kenton counties in Kentucky, or Brooke or Hancock counties in West Virginia. However, if you work outside of Ohio and have hours and fringes transferred to this Fund through reciprocity or from pipeline work, this is considered disqualifying and would affect your pension and retiree insurance benefits.
  • Any type of employment after age 70 years and 6 months (even laboring). 

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