Helpful Information For GEICO Retirees

GEICO Retiree Network Contacts

Need to reach us by mail?

Please send all retiree benefits correspondence to:

Human Resources/Benefits
GEICO
One GEICO Plaza
Washington DC 20076-0001

You've got questions. We've got answers.

This FAQ page is to help you understand your GEICO benefits as a retiree. If you have additional questions which were not addressed below, please don't hesitate to contact us at HRPen@geico.com.

Why doesn't GEICO offer medical or dental insurance to retirees (their spouses and dependents) past age 65?

GEICO provides you with medical and dental insurance up to the age when Medicare becomes your primary insurance provider. We do this to keep costs contained, while ensuring our retirees are still protected.

As you know, GEICO is the low-cost insurance provider. Every dollar we save on our operating costs can be passed through to our customers in lower insurance premiums.

Why can't I reenroll in the retiree medical or dental plan after I've canceled coverage? Why can't I enroll after I initially waived these benefits?

Generally, individuals cancel or do not buy health insurance when they are healthy. But some try to purchase a policy when their own health or a loved one's health is in question. This can result in drastically increased medical expenses and thereby can increase the premiums for all plan participants.

We want to ensure our medical and dental plans do not become cost-prohibitive for you and your family. Therefore, we offer a one-time medical and dental plan enrollment opportunity when you retire. These policies are in place to help keep our premiums reasonable and affordable.

How is the retiree medical plan premium determined?

GEICO's retiree medical plan premium is based on overall claims during the previous years. This means that premiums are priced to cover expenses. Associates and retirees both have the same premiums, but retiree premiums are not subsidized because medical expenses tend to increase with age. To help control overall expenses, GEICO does not subsidize the premiums for the retiree medical and dental plans. Again, this is to contain costs so insurance premiums can remain affordable for everyone.

Does the Pension Plan provide cost-of-living adjustments to my pension benefit to keep up with inflation?

The Pension Plan does not provide cost-of-living adjustments for several reasons. There are costs associated with providing cost-of-living adjustments, including operating and administrative costs that are deducted directly from the Pension Trust, the Pension Trust is subject to market fluctuations, and active eligible associates in the Pension Plan continue to increase their accrued benefits with each additional year of service and merit increase.

GEICO retirement benefits provide a variety of investment opportunities that allow participants to plan and save for retirement while taking potential income from Social Security (which does provide cost of living increases) into consideration. The goal is to provide participants the opportunity to establish a solid financial foundation for the well-deserved retirement years that follow their GEICO tenure.

Can I volunteer for GEICO events or projects?

Yes! More information is available by contacting your local Human Resources department.

Additional Resources

This resource listing is here to help you easily navigate through various online retirement sites. These organizations offer information and tools to assist you in retirement living and planning.

Retirement Planning Resources

Healthcare Resources

General Information

Living Needs