Retirement Medical Program
You are eligible for the Honda Retirement Medical Program if you retire from active service with Honda and:
  • Attained age 55 to 64 with at least 10 years of continuous service or
  • Attained age 65 or older with at least 5 years of continuous service
Your Retirement Medical Program benefits are different depending on your Medicare eligibility.
If…
The Retirement Medical Program provides…
You or your spouse are:
  • Under 65; and
  • Not Medicare-eligible
  • Two Retiree Medical Plan options (primary coverage for non-Medicare eligible participants); retirees, spouses and dependents are automatically enrolled in Retiree Medical Plan 1 at retirement unless you call the Honda Benefits Service Center to enroll in Retiree Medical Plan 2
  • Monthly Retiree Medical Credits to help pay for a portion of the premium for the Honda Retiree Medical Plans
You or your spouse are:
  • 65 or older; or
  • Medicare-eligible
  • Monthly Retiree Medical Credits that you can use to purchase your own coverage through Medicare, Medigap and Medicare Advantage Plans available from private insurers (Medicare-eligible retirees and eligible spouses are automatically enrolled if you and your spouse were covered as an associate)
Notes:
  • Once you become eligible for Medicare, you are no longer eligible to participate in the Honda Retiree Medical Plans
  • In order to receive the Retiree Medical Credits once you become eligible for Medicare, you must have participated in one of Honda's Retiree Medical Plans or the active associate plan until you became eligible for Medicare
  • Eligible remaining funds from the health fund under the active associates' medical plan, if any, will be rolled into your RRA. You can use these funds to reimburse yourself after paying your insurance premiums or other healthcare expenses
Note: Retirees are also eligible for a one-time Retiree Medical Account Lump Sum Contribution into a Retiree Reimbursement Account (RRA).
If you are enrolled in the Retirement Medical Program:
  • You can cover your spouse and eligible dependents. (Note: Dependents are not eligible for the RRA)
  • Coverage can begin as early as the first day of the month following your retirement date (your active coverage continues through the end of the month you retire, so there is no gap in coverage). Honda helps cover the monthly premium cost through the Retiree Medical Credit, which is based on your completed years of Honda service
For a full description of these Retiree Medical Plans, please refer to the Summary Plan Description for the Honda Retirement Medical Programs. You can view this SPD at www.myhondabenefits.com, or by calling the Honda Benefits Service Center.