Retiree Health Insurance Subsidy

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Retiree Health Insurance Subsidy
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Retiree Health Insurance Subsidy

• Each AZ retirement system provides a monthly,
  premium benefit payment to eligible, enrolled
  retirees. This payment is applied to health
  insurance premiums and is intended to help lessen
  the out-of-pocket insurance cost to retirees.
• The subsidy amount is based upon insurance plan
  type (family or single) and Medicare eligibility.
  
• This amount is applied to a members total cost
  due for insurance and the difference is either
  taken out of their pension or billed by the
  insurance administrator.

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Who is Eligible?

• The fund manager . shall pay part of the
  single coverage premium of any group health and
  accident insurance for each retired member or
  survivor of the system who receives a pension and
  who has elected to participate in the coverage
  provided by section 38-651.01(ADOA) or 38-782
  (ASRS) or any other health and accident insurance
  coverage provided or administered by a
  participating employer of the system.

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What is considered Health Insurance?

• The system defines Health insurance as Medical
  and Dental coverage. At this time separate Vision
  coverage is not included in our definition.

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Subsidy Amounts
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What coverage qualifies for the subsidy payment?

• Coverage with current employer extended as COBRA
  coverage
• Retiree Health Insurance coverage offered by
  employer
• Retiree Health Insurance coverage offered by
  PSPRS/CORP through ASRS (Arizona State Retirement
  System)

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More Information

• When a member is eligible for a retirement
  benefit from two different Arizona retirement
  systems they may also be eligible for two subsidy
  amounts.
• Medicare eligible is defined as persons age 65 or
  older or in some cases someone on a disability
  could obtain Medicare earlier.

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Insurance Contact Information
If you need further information you may visit our
website at www.psprs.com and click on the
Retiree Health Insurance or contact one of the
representatives listed below. PLEASE CONTACT US
WHEN DETERMINING A MEMBERS SUBSIDY
Annette Jorgensen Insurance Team Leader
annette_at_psprs.com [phone] X2024
Fax [phone]
Stacey Alcott Insurance Specialist
stacey.alcott_at_psprs.com [phone]
X2013 Fax [phone]
Lilian Leung Benefits/Insurance
Specialist Lilian.Leung_at_psprs.com (602)
255-5575 X2037 Fax [phone]