■ If you are Medicare-eligible: You can enroll in the Senior Supplement Plan. The HDHP coverage option offers lower monthly premiums for higher out-of-pocket expenses, while the PPO coverage option offers a higher monthly premium for better coverage. Retiree health care coverage ■ If you are under age 65 and are not yet Medicare-eligible: You can select from two medical options: the High Deductible Health Plan (HDHP) or the Preferred Provider Organization (PPO) Plan.
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If you are grandfathered and are at least age 50, have at least five years of U.S.- based BHP Billiton service, and your age plus years of service equals 60 or more, you are eligible for coverage under the retiree health care provisions of the BHP (USA) Inc. ■ Grandfathered: If you were age 40 or older on December 31, 2008, you are grandfathered under the terms and conditions in effect at that time. If you are not grandfathered and are at least age 55 and have at least 10 years of U.S.-based BHP Billiton service, you are eligible for coverage under the retiree health care provisions of the BHP (USA) Inc. Retiree health care eligibility ■ Non Grandfathered: If you were under age 40 on December 31, 2008, and a regular employee of BHP Billiton, or if you were hired after December 31, 2008, you are not grandfathered for retiree health care coverage.
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The full cost of coverage is determined actuarially on an annual basis, taking into account experience and trend, and utilizing certain assumptions to estimate total cost. If you elect this option, you will be responsible for the full cost of coverage (your share when you were an active employee plus BHP Billiton’s share), plus a 2% administrative fee. If you are not eligible for retiree health care: COBRA continuation of coverage You may choose to continue coverage for up to 18 months under COBRA continuation of coverage provisions. Summaries of the two options, as well as participation and eligibility requirements, are as follows: There are two possible options for continuing coverage. administers the BHP Retiree Medical premium billing process and will mail premium coupons to you within 30 days of your enrollment in the BHP Retiree Medical Plan. Mercer administers the BHP Retiree Medical enrollment and will mail an enrollment packet to you within 30 days after your active employee coverage ends. administers the COBRA continuation of coverage program and will mail an enrollment packet to you within 30 days after your active employee coverage ends. If your termination of employment is due to layoff or redundancy, coverage that continues through COBRA or retiree health care is at no cost to you for the first three months. HEALTH PLANS Medical Your medical coverage and BHP Billiton’s share of the coverage cost for you and your enrolled dependents ends at midnight on the last day of the month in which your employment termination date* occurs.
Read this guide carefully, and if you have any questions, please refer to the Contact Information section on page 6.īHP Billiton Benefits Program – Petroleum and Houston Tenants Leaving BHP Billiton in 2012 Important Information about your benefits If your employment with BHP Billiton is ending soon, it’s important for you to understand how each of your benefits will be affected.
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