We understand that your needs for medical care, and the resulting costs, can increase as you age. To help lower your out-of-pocket costs, Marathon Oil designed a retiree subsidy program based on your years of service with the Company.
Currently, we determine the Marathon Oil subsidy toward your Retiree Health Plan premium using the 4% accrual method, which provides a 4% Company subsidy for each year of service after age 30. The amount of subsidy you will receive is determined as of your retirement date. For example, if you started working at Marathon Oil when you were 45, and you now retire at age 65, the Company will subsidize 80% of your premiums (4% x 20 years).
You can use the chart in the link below to determine how much you will pay for retiree coverage in 2016 based on your years of service, Health Plan option, and coverage level.