Retiree Health Care Benefits
What’s New for 2024?
The following changes to your benefits begin on Jan.1, 2024.
Expanded Access to Diabetes Support
Diabetics who need continuous glucose monitoring to manage their condition will now be able to acquire these devices at the pharmacy through Express Scripts.
Coverage for 3D mammograms will be enhanced to align with coverage for traditional mammograms, which means no cost when considered preventive.
Consumer-Directed Health Plan (CDHP) deductibles
To comply with IRS regulations, the deductibles for the CDHP are increasing to $1,600 for individuals and $3,200 for families for in-network services.
Increased Health Savings Account limits
The HSA contribution limits for 2024 are $4,150 for self-only coverage and $8,300 for family coverage. Those 55 years and older can contribute an additional $1,000 as a catch-up contribution.
The following monthly premiums are the total premiums and do not reflect any pension supplement or contribution you may receive to help offset the cost of your medical coverage.
If eligible for retiree medical coverage, retirees and their eligible dependents not yet eligible for Medicare may choose from medical plan options that include medical, prescription drug coverage, and vision benefits.
Note: When retirees or their eligible dependents become eligible for Medicare, they cannot continue in these plans but are instead eligible to enroll in healthcare coverage through a private Medicare exchange provided by Via Benefits as described below in Medicare Retirees.
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.
Medicare Retirees (Age 65 and Older)
If eligible for retiree medical coverage, retirees and their eligible dependents that are eligible for Medicare, and are at least age 65, are eligible to enroll in healthcare coverage through a private Medicare exchange provided by Via Benefits. Other plans are available outside of Via Benefits.
Through Via Benefits, eligible retirees and dependents can enroll in medical, prescription drug, dental and vision coverage. They also have access to Benefit Advisors to help them shop for and select the coverage that’s best for their situation.
When becoming eligible for Medicare upon reaching age 65, retirees and dependents have a choice among competitively priced, guaranteed-issued individual health plans through the individual marketplace.
If enrolled in TVA’s retiree medical coverage, retirees and dependents will begin receiving information from Via Benefits as early as their 64th birthday. This information will provide details about their retiree healthcare benefits as well as information about how and when to enroll.
Retirees and their Medicare-eligible dependents can enroll through Via Benefits during the Initial Enrollment Period (IEP). The IEP is a seven-month period that starts three months before their Medicare-eligible date, includes the month of their Medicare-eligible date, and the three months after their Medicare-eligible date.
For more information, contact Via Benefits at my.viabenefits.com/tva or 1-844-620-5725.
Medicare Retirees (Under Age 65)
If eligible for retiree medical coverage, retirees and their eligible dependents that become eligible for Medicare before reaching age 65 due to disability, are given the option to stay in the plan they’re currently enrolled in, or enroll in a plan through Via Benefits.
Retirees or dependents who become eligible for Medicare early must contact TVA Employee Benefits within three months of their Medicare effective date. Otherwise, they will remain in the plan they’re currently enrolled in.
For additional information on medical benefits available to TVA retirees, contact TVA Employee Benefits by calling the People First Solution Center at (888) 275-8094.
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 2024 to the HSA are $600 per individual and $1,200 per family. The maximum annual HSA contribution from all sources is $4,150 per individual and $8,300 per 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 beginning the year you turn 55.
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 2024, TVA will deposit its HSA contribution into your account.
If you are a new retiree, please refer to the Benefits Summary for Terminating Employees for instructions regarding your HSA.
The retiree dental insurance plan is designed to help retirees with the cost of dental expenses. This plan is not tied to the retiree's 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.
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.
The Guidelines for Retiree Dental explains participants’ responsibilities under the plan, eligibility, payment of premiums, and more.
Federal Long-Term Care Insurance
The U.S. Office of Personnel Management (OPM) suspended applications for coverage under the Federal Long Term Care Insurance Program effective December 19, 2022.
This was done to allow OPM and the FLTCIP carrier, John Hancock Life & Health Insurance Company, the time to thoroughly assess benefit offerings and establish sustainable premium rates that reasonably and equitably reflect the cost of the benefits provided, as required under 5 U.S.C. 9003(b)(2).
Prescription Safety Eyewear
The safety eyewear program is a courtesy offering as part of a contract with TVA’s safety eyewear vendor.