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New Retiree Health Plan Rates

New Retiree Health Plan Rates

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Posted: 
May 23, 2013
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The State of Illinois has released Retiree Health Plan Contribution Rates for Fiscal Year 2014.

SURS’s annuitants with less than 20 years of creditable service credit are required to share in the cost of their State of Illinois Insurance. All affected SURS annuitants will receive a letter and a chart outlining the contribution rates for FY 2014 (effective July 1, 2013).* The rates are based upon the number of years of creditable service credit each member has with SURS, as well as their Medicare status.

Due to Public Act 97-0695, signed by Governor Quinn on June 21, 2012, all retirees, annuitants and survivors will also be charged a percentage of their combined annuity from all five state retirement systems (SURS, SERS, TRS, JRS and GARS) beginning on July 1, 2013.** This cost is in addition to the required Retiree Health Plan Contribution Rates. Medicare eligible members will pay 1% of their combined monthly annuity each month toward the cost and non-Medicare members will pay 2% of their combined monthly annuity each month.

SURS members who do not wish to remain enrolled in the State of Illinois Insurance program will need to complete a Benefit Choice Election form*** and return it to SURS by May 31, 2013.

All health insurance deductions will be deducted from annuitants’ monthly payments beginning July 1, 2013.

The FY 2014 Retiree Health Contribution Rates do not apply to College Insurance Plan participants.

*Click here to view the 2014 Retiree Health Plan Contribution Rates for annuitants with less than 20 years of creditable service.

**Click here to read the CMS letter outlining new health insurance charges for all annuitants.

***Click here to download the Benefit Choice Election form.

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