Medicare-Eligible Open Enrollment is scheduled for
October 16 – November 3, 2023
Eligible retirees will have an opportunity to cancel or make changes to their existing medical and/or dental insurance coverage.
Details on the specific plan changes and options will be posted at the Medicare Eligible Retirees Open Enrollment page by October 15.
If you need to update benefits due to a qualifying change in status, visit the Qualifying Change in Status webpage
About the Plan
UNM offers Group Term Life and Additional Life Insurance to eligible retirees through The Hartford.
The amount of coverage available at age 65 is a fixed coverage amount. UNM contributes a percentage toward the total cost of premiums for Basic coverage. Additional Life insurance is 100% paid by the retiree.
If you are a retiree enrolled in UNM Basic Life insurance, your coverage level will be reduced to $4,000 at age 65. If you are also enrolled in Additional Life coverage, the additional coverage will be reduced to $6,000 for a total life insurance coverage of $10,000.
Spouse/Domestic Partner and Dependent Child coverage purchased prior to retirement will terminate at the time of retirement. You may apply for a conversion of this coverage to an individual policy within 31 days of separation from UNM. For more information about this option, please contact The Hartford.
In order to retire with life insurance benefits from UNM, an employee must be enrolled in the life insurance benefit for one year leading up to retirement, and elect retiree life insurance during the retirement application process.
Review or Change your Life Insurance Coverage
Review Coverage: Contact Benefits & Employee Wellness at firstname.lastname@example.org or call The Hartford directly at 1.866.551.1494
Change Beneficiary: Contact HR Benefits at 505.277.6947 to request a Hartford Beneficiary Change Form.
Cancel Coverage: Please know that if you cancel coverage, you may never re-enroll. To cancel your life insurance coverage, complete the Decrease or Cancel Coverage Change Form. Follow the instructions on the Form to submit it to Benefits & Employee Wellness.
Choosing or Changing Beneficiaries
If you enroll in UNM’s life insurance, there is an important step to ensure you’re making the most of this important coverage – choosing or updating a beneficiary. A beneficiary is the person who will receive the proceeds of your life insurance should you pass away. You can choose anyone as your beneficiary and change your designation at any time. And when you add or change a beneficiary online, your designation becomes effective immediately.
Examples of when to consider your beneficiary designation(s) are marriage, birth or adoption of a child, or divorce.