Boise State University announced on Mar. 24 that it will begin phasing out its Retiree Life Insurance Program, with the program set to conclude effective July 1, 2026. The university said this decision follows similar actions by other Idaho state agencies and higher education institutions, which have already discontinued their retiree life insurance plans due to increasing premium costs and budget constraints.
The change is significant for employees who are planning for retirement in the coming years. Boise State is implementing a phased transition to support these employees. Those who notify the university’s Human Resources benefits team of their intent to retire by June 30, 2026, will remain eligible to enroll in the program if they meet all other requirements and retire within the specified Fiscal Year 2027 timeline.
According to Boise State, current retirees already enrolled in the plan will continue receiving coverage after the sunset date. The university also stated that after the program ends, retirees may still have options to convert certain life insurance policies into self-pay arrangements.
Currently, Boise State pays premiums for eligible retirees at retirement for decreasing term life insurance coverage. This benefit provides death benefits based on a retiree’s annual salary at retirement: up to age 65 receives full coverage; ages 65-70 receive seventy-five percent; and those aged seventy or older receive fifty percent of their salary as coverage. To qualify for retirement eligibility under this plan, an employee must be at least fifty-five years old with five years of service at Boise State University and meet what is known as the Rule of Eighty (age plus years of service equals eighty or more).
The university emphasized that its Basic Life and Accidental Death and Dismemberment (AD&D) insurance programs for active faculty and staff are not affected by this change and will continue without cost during employment.
Employees considering retirement are encouraged by Boise State Human Resources to review their plans regarding this benefit. Additional information can be obtained from HR or through resources available on Boise State’s website.
