ERS reduces premium rates for Medicare retirees
by TPEA | September 15, 2020
The Employees Retirement System (ERS) Board adopted significantly reduced rates for Medicare retirees at its August 19, 2020 meeting. For retiree and spouse coverage, the out-of-pocket premium payment effective January 1, 2021 will drop from the current $151+ per month to $89 monthly, a savings of $62 per month or $744 per year. Surviving spouses will see their monthly premium payment drop from $303 monthly to $179, a $124 reduction.
This is a considerable relief for the budgets of the almost 67,000 Medicare retirees and 17,000 eligible dependents participating in the ERS health plan. TPEA applauds ERS and its newly chosen Medicare Advantage administrator, Sierra Health (a United Health entity) for generating these substantial savings.