Board Approves STRS Ohio Health Care Program Changes for 2016
Following a review that took place during its April meeting, the State Teachers Retirement Board approved the following changes to the STRS Ohio Health Care Program for 2016:
Prescription Drug Program -- Adopt a methodology of setting the self-insured prescription program annual deductible to 63% of standard Medicare Part D deductible limit rounded down to the nearest $25 increment. Using this methodology, the 2016 Express Scripts deductible will increase to $225 from $200.
Regional Plans -- Change the national base plan for non-Medicare regional plans to the Medical Mutual Basic Plan.
STRS Ohio staff will present 2016 premiums for board approval in June.
Last year, the Retirement Board approved a number of changes to the health care program for 2016. The changes approved last year included:
Premium subsidy and reimbursement
Reduce the subsidy multiplier by 0.1% to 2.1% per year of service. This completes the phased-in reduction the board began in 2012. A retiree with 30 or more years of service will receive a subsidy in 2016 of 63% of the total cost of the plan.
Continue the Medicare Part B premium reimbursement at 2015 levels for eligible benefit recipients enrolled in an STRS Ohio health plan.
Aetna Medicare Plan
Reduce the in-network deductible to $150 from $300.
Out-of-network coverage changes include: increasing out-of-pocket limit to $2,500 from $2,000; increasing specialist physician office visit copayments to $55 from $50; increasing coinsurance percentage to 8% from 6%; and increasing skilled nursing/home health care coinsurance to 8% from 2%.
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