2018-105A - Laserfiche WebLink

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Any retiree who elects to switch from the County's Health Insurance Plan to the Medicare Advantage Plan shall not be allowed to change back to the previous Plan (unless the Medicare Advantage Plan is no longer offered). RETIREE CONTRIBUTIONS FOR MEDICAL/PRESCRIPTION COVERAGE In order to begin and maintain retiree Medical/Prescription coverage, premium contributions are required from the retiree. For dependent coverage, the retiree is required to pay a premium as well. If any required amounts are not paid timely, the coverage for the retiree and/or the dependent(s) will cease. The amount of the contributions required for retiree and dependent coverage may change from time to time. RETIREE HEALTH SUBSIDY In addition to the Health Insurance Subsidy paid by FRS, certain retired employees of Indian River County will receive a subsidy from the County. The amount of subsidy depends on: the date of employment, date of retirement and the total service with the county (rounded to whole years). For retirees that are eligible to receive a subsidy, in the event of their death, the subsidy continues on to their surviving spouse until the spouse remarries or terminates coverage. The chart on the following page summarizes the retiree health subsidy, expressed as a percent reduction off the stated monthly premium for the tier selected (e.g., 2% of the single premium for single coverage or 2% of the family premium for family coverage). Hired Before 2/1/2006 Hired On or Retirement Retiree or Spouse After Date Service Under Age 65 Medicare Eligible 2/1/2006 On or Less than No Subsidy 20% Subsidy* Before 15 years 1/31/2009* At least 15 2% per Year of Service Additional 20% Subsidy * years (maximum of 40%) (maximum of 60%)* No Subsidy Le ss than Leyears After No Subsidy No Subsidy 15 1/31/2009* * At least 15 2% per Year of Service Subsidy Ceases years (maximum of 40%) *Additional Subsidy will be paid to Medicare Eligible retirees regardless of whether they are enrolled in Medicare Advantage Plan and regardless of whether they become Medicare Eligible before or after October 1, 2004. "Employees who commit by June 1, 2008 to retire before January 31, 2009 will receive subsidy as if retired before June 1, 2008. DISABLED RETIREES PREMIUM CONTRIBUTIONS Members eligible for disability retirement are subject to premium payments the same as all regular retirees. An exception is made to law enforcement officers who had sustained catastrophic injuries in the line of duty. Premiums for health coverage of such members, their spouses and any dependent children will be -3-