Retiree Medical Benefits
Retiree Medical Plan Eligibility
Generally, you’re eligible for the Retiree Medical Plan if you’re eligible for U.S. health and insurance coverage as an active colleague on the day your Pfizer employment ends and you meet the criteria noted below.
- You are age 55 or older and
- You have at least 15 years of cumulative eligible service after reaching age 40
- You are at least age 50
- You have at least 10 years of cumulative eligible service
- The sum of your age and years of cumulative eligible service equals at least 65
- You are age 62 or older and
- You have at least 5 years of cumulative eligible service
Note: If you were hired or rehired by Pfizer through an acquisition, whether or not your pre-acquisition service counts towards retiree medical will depend on the terms of the acquisition.
Retiree Medical Subsidy
If you are eligible for subsidized coverage, Pfizer pays a portion of the total cost of coverage and the retiree pays the balance. Pfizer will establish a Retiree Medical Subsidy (RMS) notional account on your behalf at retirement, which represents the total dollar amount that Pfizer will contribute toward the cost of coverage under the Pfizer Retiree Medical Plan over the course of your retirement. Your RMS is calculated based on your eligible years and months of Pfizer cumulative service after reaching age 40, presuming a minimum of 15 years of service and a maximum of 25 years.
If You’re Not Yet Medicare Eligible (Under Age 65)
Retirees and/or eligible dependents who are not yet Medicare eligible have a choice of coverage options:
- The Retiree PPO option
- The High-Deductible PPO option
Both options provide in-network coverage, preventive care, and prescription drug coverage, but only the Retiree PPO option provides 100 percent coverage for Pfizer medications when no generic is available.
You also have a choice of administrators:
- Horizon Blue Cross Blue Shield (Horizon)
- UnitedHealthcare (UHC)
Regardless of which administrator you select:
- Behavioral health and substance use coverage is available.
- Prescription drug coverage is administered by Caremark.
- Vision coverage is administered by EyeMed Vision Care (EyeMed).
Review the Retiree Benefits Brochure for a summary of coverage.
If You’re Medicare Eligible (Over Age 65 or Medicare-Disabled)
Retirees and/or eligible dependents who are Medicare eligible have a different choice of coverage options:
- Medicare Advantage with Prescription Drug Plus (Rx Plus)
- Medicare Advantage with Prescription Drug Base (Rx Base)
- Prescription Drug Plus (Rx Plus) Only
- Prescription Drug Base (Rx Base) Only
You may only elect one of these options and you are required to enroll in Medicare Parts A and B, regardless of which coverage option you elect. Review the Retiree Benefits Brochure for a summary of coverage.
If You’re Medicare Eligible and Your Dependents Are Not, or Vice Versa (Split Family Coverage)
If Medicare eligibility differs among family members covered under the Retiree Medical Plan, each member will enroll in the coverage applicable to them. For example, if you’re Medicare-eligible and your spouse/domestic partner is not, you will select from the Medicare-eligible options for “Yourself Only”, and your spouse/domestic partner will select from the non-Medicare-eligible options as “Your Spouse/Partner”.
For More Information
For more information on Pfizer’s retiree medical coverage, visit the Retiree Medical Resource Center on NetBenefits to access these tools and resources:
- Watch an on-demand video to learn about the current coverage options.
- Review a summary of the plan options and the current contributions.
- Access a tip sheet to understand what action you must take when you turn age 65 and how to elect coverage.
Dental Coverage for those Eligible for Retiree Medical
When you retire, you have the option to choose from two dental plan providers, both are voluntary options and are not sponsored nor paid for by Pfizer.
MetLife
Through MetLife, you have a one-time opportunity when you retiree to elect retiree dental coverage at group rates. There is no waiting period for coverage to start. For more information, call 1-800-GET-MET-8 (1-800-438-6388), Monday through Friday from 8 a.m. to 8 p.m., Eastern time.
Delta Dental
Dental coverage is available through Delta Dental (subject to availability by state) and is not sponsored nor paid for by Pfizer. You can enroll at any time and will pay the full cost of any coverage you elect. Visit Delta Dental’s Smile On Program for details.
Note: When your active coverage ends, you may also elect to continue your active dental coverage under COBRA.
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