If your are considering re-employment as a regular or temporary employee, please read these FAQs.
This information is effective January 1, 2009. If you have any questions about the impact of re-employment at Aetna upon regular or retiree benefits, please call the Aetna HR Contact Center at 1-800-238-6247 and follow the prompts to speak with the appropriate area.
Note: The descriptions of Aetna's benefits in these questions & answers summarize only the highlights of the plans. If any statement in these questions & answers conflict with applicable plan documents, the documents will govern. The company reserves the right to change, suspend or terminate the benefits plans described in these questions & answers at any time.
Active Employee Health Benefits
If I am rehired at Aetna as a regular employee (working 20 or more hours per week), when do health benefits become effective? Can they begin on my date of hire?
Unless your date of hire is the first of the month, your benefits will always become effective on the first of the following month; they may not, under any circumstances, begin earlier. If your date of hire is the first of the month, your benefits will become effective on that day. You must enroll in any desired optional benefits through Aetna's online benefits system within 31 days of your date of rehire.
If I am rehired at Aetna as a regular employee within 31 days of my termination date, what happens to my health benefits?
If you are rehired within 31 days from your date of termination, you will be automatically reinstated to the same benefit options that you had prior to your termination of employment.
I have a pre-existing condition. When can I enroll in health benefits?
You may enroll immediately since the health plan does not have a pre-existing condition limitation. Benefits will be effective as described in the previous question.
If you have Aetna Retiree Health Benefits
Impact of Re-employment as a regular employee on Retiree Medical Subsidy:
What will happen to my retiree medical subsidy if I return to work as a regular employee?
If you return to work at Aetna on or after January 1, 2008, as a regular employee working 20 or more hours per week, you will be eligible to maintain your previously earned retiree medical subsidy as of your rehire date. While working at Aetna, you will be eligible to enroll in the active employee health plan(s) and the following will apply to your retiree medical subsidy, if any:
In either case, when you later terminate your employment with Aetna, you may elect or defer coverage. If you choose to defer your retiree health benefits, the previously calculated subsidy percentage will be the subsidy available upon later enrollment.
Note: If you were rehired as a Aetna regular employee at any time prior to January 1, 2008, please see the Your Guide to Retiree Benefits, Summary Plan Descriptions available at www.ybr.com/aetna for information pertaining to the impact of re-employment on your retiree medical subsidy. Or call the Retirement Service Center at 1-800-238-6247.
Impact of Re-employment as a regular employee on the Retiree Medical/Dental Deferral Period:
What retiree health deferral period will I be subject to if I return to work as a regular employee?
If you are rehired as a regular Aetna employee and you terminate employment on or after January 1, 2009, the deferral period will be the earlier of three years or age 65. This applies to all employees, including rehired retirees.
Impact of Re-employment as an Aetna Temporary Employee on Retiree Medical Subsidy:
I previously worked for Aetna and I am eligible for the retiree health benefits. What is the impact on my deferred retiree health benefits if I return to work at Aetna as a temporary employee?
There will be no impact on your deferred retiree health benefits; you will continue to accrue age (but not service) toward the subsidy and may elect coverage anytime during the remaining deferral period.
I previously worked for Aetna. I am currently enrolled in Aetna's retiree health benefits. What is the impact to my retiree health benefits if I return to work at Aetna as a temporary employee?
There will be no impact to your retiree health coverage. You may continue your coverage. Temporary employees are not eligible for active employee health coverage.
I am a former ING employee who is eligible for Aetna's retiree health benefits. If I return to work as a temporary employee at Aetna, what happens to this eligibility?
There will be no impact to your eligibility for retiree health coverage. Temporary employees are not eligible for active employee health coverage.
Note: Aetna reserves the right to amend or modify its benefits at any time including a reduction or elimination of its retiree medical subsidy.
What is a cash balance pension plan? How does it work?
A cash balance pension plan means your benefit is expressed as an account balance. Your account balance increases each year with interest and pension credits. Employees hired on or after January 1, 2007, (or rehired on or after January 1, 2007) receive a pension credit based on their pension-eligible pay and a percentage based on “points.” The chart below lists the point ranges and the corresponding pension credit percentages applicable after you complete one year of service:
|Points (Age + Completed Years of Service as of December 31)||Post-2006 Pension Credit %|
|40 - 44||3.00%|
|45 - 49||3.25%|
|50 - 54||3.50%|
|55 - 59||3.75%|
|60 and over||4.0%|
Will my hire date be adjusted if I accept a job at Aetna?
If you are rehired within 12 months of your termination date, your service date will not be adjusted. If you are rehired 12 months or more from your termination date, your service date is recalculated to exclude your time away from Aetna.
I am currently receiving a pension from Aetna. What happens to my pension payments if I return to work for Aetna as a regular employee working full time or part time?
Once you begin your pension payments, they will continue even if you are reemployed at Aetna. Once reemployed, you will become an active participant in the Aetna pension plan and earn a pension credit each year under the cash balance formula applicable to employees hired on January 1, 2007 or later. See the first Q&A under this section for more information. Your annual pension credit will be based upon your age and service, generally including any prior service. If you are rehired by an acquired company that does not participate in the pension plan, you will not lose any current pension but would not earn new pension credit.
Currently, I am receiving a pension from Aetna. What happens to my pension payments if I return to work as an Aetna temporary employee?
Once you return to work, your pension payments will continue even if you are reemployed at Aetna as a temporary employee. You are not eligible for any additional pension accruals because Aetna temporary employees are not eligible for active participation in the Aetna pension plan. If you are currently deferring your Aetna pension benefit, you may not commence your benefit while you are actively employed in any capacity - temporary or regular.
Aetna's 401(k) Plan
When am I eligible to participate in Aetna's 401(k) Plan?
Your eligible to participate in the Aetna 401(K) plan upon hire or rehire, as long as you are employed by an Aetna participating company and are not designated as a contingent worker (e.g., employed by an outside agency, independent contractor, agent, broker, etc.). You are eligible for employer-matching contributions, after completing one year of service. If you are a rehired employee, prior service counts towards the one year service requirement.
Will I be able to roll over my 401(k) account from another employer into the Aetna 401(k) Plan?
A. Yes. Detailed instructions on what kind of distributions may be rolled over and how to request rollovers are available on the rollover form which can be found on the Aetna 401(k) website at http://aetna.ingplans.com/.