Cost of Retiree Medical and Prescription Drug Coverage

Penn will pay 60% of the lowest cost premium for the under 65 medical plans and 60% of the lowest cost indemnity premium for the 65 and over medical plans. You will pay the balance of 40% plus any cost difference between the lowest cost plan and the plan you select. Penn will also pay 60% of the cost of the Caremark prescription drug plan.

For retirees hired on or after January 1, 2006, Penn's contribution for dependent coverage will be 30% of the lowest medical premium (for dependents who are not Medicare-eligible) and 30% of the lowest cost indemnity plan premium (for dependents who are Medicare-eligible).

View the premium rates for calendar year 2008 [pdf].