Medicare Reimbursement. Effective January 1, 1996, consistent with law, the State will no longer reimburse active employees or their spouses for Medicare Part B premium payments.
Medicare Reimbursement. 1. A retiree who is eligible for Medicare coverage must enroll in Medicare Parts A and B and select a supplemental health benefits program to receive the City’s Retiree Health Insurance Contribution and Retiree Tier 1
Medicare Reimbursement. 1. A retiree who is eligible for Medicare coverage must enroll in Medicare Parts A and B and select a supplemental health benefits program to receive the Tier 1
Medicare Reimbursement. Upon proof of enrollment in Medicare Parts A & B, retirees eligible for retiree health insurance under all three (3) tiers are eligible for Part B Medicare reimbursement for the retiree only.
Medicare Reimbursement. Employees hired on or after July 1 1995 will not receive any reimbursement for Medicare Part B premiumpayments.
Medicare Reimbursement. Subject to Rxxxx’x execution of the Release attached as Exhibit B hereto and provided the release is not revoked within seven (7) days of its execution, the Company will continue to pay Rxxxx’x Medicare/insurance reimbursements of $_517.33 per month through April 30, 2019.
Medicare Reimbursement. When an enrolled member of retiree health coverage becomes xxx- gible for Medicare, they must enroll in Medicare Parts A and B. Their health coverage will then transition to our MAPD plan. The Center for Medicare Services (CMS) assigns a standard pre- mium value each year for Part B coverage and for high earning individuals with a gross taxable income over a certain value CMS also charges a monthly Income Related Monthly Adjustment Amount (IRMAA) for Part B and Part D coverage. By supplying proof of enrollment and vali- dation of the rate being charged by CMS for their monthly Part B and/or D premium, the state currently reimburses retirees the total value for all Medicare premiums. These reimbursements include both the standard cost of Medicare Part B and any monthly IRMAA Part B and D val- ues. For members who retire on or after August 1, 2022, the state will continue to reimburse 100% of the standard cost of Medicare Parts B and D, but it will reimburse only 50% of the Part B and D IRMAA. • Not everyone is affected: The Income Related Monthly Adjustment Amount (IRMAA) is only charged by CMS to high earners on the basis of the modified adjusted gross income that a taxpayer reported two years prior. In 2021, the IRMAA is being charged to individuals who reported modified adjusted gross income for 2019 of $88,000 or more, and to couples whose modified adjusted gross income for 2019 was $176,000 or more. • How much will it cost? CMS reviews each individual’s gross taxable income from two years prior to determine whether or not an IRMAA would apply and at what value. For 2021, IRMAA rates in addition to the standard Part B premium currently range from $71.70 to $433.50 per month. Using the current rates, with the updated rules, the unreimbursed por- tion of the IRMAA would range from $35.85 to $216.75 per month. The state will continue to reimburse the remainder of a member’s full Medicare Parts B and D premiums.
Medicare Reimbursement. All unit members who retire after June 30, 2013 who are 65 years or older shall sign up for and participate in Medicare sponsored programs. All members who retire after June 30, 2013 are not eligible to receive payments for their share of expenses in Medicare Part B Plans, unless they have worked at least 15 years for Xxxxx Central School district.
Medicare Reimbursement. The Board will fully reimburse those employees who incur premium costs of Medicare payments. This reimbursement will be paid quarterly by the Board to the employee. This provision shall not obligate the Board to pay any payroll tax charged to the employee.
Medicare Reimbursement. The Company will reimburse age 65 and over retirees on a quarterly basis for their cost of Medicare Part-B. This amount will be adjusted each year according to the mandated level, with contributions not to exceed $50.00 per month over the term of the contract. Individuals retiring on or after 1/1/14 with less than 15 years of service as of 12/31/13 will not be eligible for Medicare Part B Reimbursement and Retiree Life Insurance.
