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BMO U.S. Benefits

Retiree

As a BMO retiree, you may still be participating in certain BMO benefit plans. Here is some useful information about your retiree benefits.

Retiree Medical

  • If you enrolled in the Retiree Medical Program at retirement, here's what you need to know:
    • You and your eligible dependents are under age 65. You are covered under the same Consumer Choice Plan as active employees. For an overview, review the Medical Highlights.
    • You or your covered spouse/domestic partner turn age 65 and become Medicare eligible. Coverage under the Consumer Choice Plan ends and you will automatically be enrolled in the Medicare Secondary Plan, administered by UMR.
    • You or your covered spouse/domestic partner are over age 65. You will each be enrolled for individual coverage under the Medicare Secondary Plan.  For details, review the UMR Medicare Secondary Plan Overview.
  • Prescription drug coverage is through Express Scripts, for the Consumer Choice Plan and Medicare Secondary Plan.
  • You are billed by PayFlex for your Retiree premiums.
  • Each November, an Annual Enrollment packet will be mailed to your home address on file. It includes a confirmation of your coverage and premiums for the next year.
  • If you waived Retiree Medical coverage at retirement and would like to enroll now due to a qualifying condition, contact the Human Resources Centre at 1-888-927-7700 to request enrollment.
 
 

Retiree Accident Insurance

What you need to know:

If you were eligible for Retiree Accident insurance at retirement, you may have $10,000 of coverage. Your coverage will continue through the end of the year in which you turn 70 years old.

To apply for benefits under the Accident Insurance Plan, you or your beneficiary should notify the Human Resources Centre at 1-888-927-7700. You or your beneficiary will be sent a claim form to complete and submit. You may also need to submit a police report or other proof of loss, if requested.


BMO U.S. Pension Plan

What you need to know:

Your vested account balance becomes payable when you retire, but you can choose to defer payment until Normal Retirement Age (age 65), or until minimum distributions are required (age 70½).

To apply for benefits under the BMO U.S. Pension Plan, contact the Human Resources Centre at 1-888-927-7700.


401(k) Savings Plan

What you need to know:

Your vested account balance becomes payable when you retire, but you can choose to defer payment until minimum distributions are required (age 70½).

To request a distribution under the 401(k) Savings Plan, access your account on ACCESSBenefits or call
1-800-738-2323.


Important Retiree Contacts

Benefits Billing
PayFlex Systems
USA, Inc.

Employer ID# 142288
1-888-678-7835

Address Change
Human Resources
Centre
1-888-927-7700
Health Care
UnitedHealthcare
Group # 717480
1-800-896-0067

Blue Cross Blue Shield
Group # 190565
1-888-979-4516

UMR Medicare Secondary Plan 
Group #76-040161
1-877-561-0366
Prescription Drugs
Express Scripts
Group #BMOFGRX
1-877-795-2926

401(k)
ACCESSBenefits
1-800-738-2323

BMO U.S. Pension Plan
Human Resources
Centre
1-888-927-7700

Best of BMO
Employee Hotline
1-888-398-2265

Address change?

Keep BMO informed of your current address to ensure you get your Annual Enrollment packet, W-2, account statements and other important communication.

Call the Human Resource Centre at 1-888-927-7700 to update.

 
 

More information

  • As a Retiree, take advantage of the exclusive banking benefits available through the Best of BMO U.S. program.
  • Review the Retiree Premiums.
  • Take a look at what happens to your BMO benefits when you retire, including the 401(k) Savings Plan and Employee Share Purchase Plan. Learn more
  • Be sure your beneficiaries are up-to-date. Learn more