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       It is a comprehensive measure of annual income, in that income from all sources–whether earned through employment or self-employment, received from assets, or withdrawn from pension plans—is included. - do not send forms through email (see #1 above). Projections by Cubanski et al. ( 2014 ) suggest that the share of Medicare beneficiaries required to pay the income-related Part B premium will rise from 5% in 2013 to 9.6% in 2019 and that the share paying the Part D premium will rise from 4% in 2013 to 9% in 2019. 7. B. Health Insurance Premium Tax Credits The ACA established for the first time a formal system of premium support for individuals who purchase their health insurance through newly established state-level health insurance marketplaces. The premium support functions as a limit on the amount that an individual or family would have to pay for an insurance premium as a percentage of their annual income, implemented through premium tax credits. 8. A. Medicare Part B and Part D Premiums Prior to the passage of the MMA in 2003, all beneficiaries enrolled in Medicare Part B were generally required to pay a monthly premium set to cover 25% of the average annual expenditures per beneficiary. The MMA kept that target for almost all beneficiaries but introduced four additional premium amounts for higher-income beneficiaries that would cover, respectively, 35, 50, 65, or 80% of expenditures per beneficiary. The income-related premiums went into effect in 2007, and both the thresholds and premiums grew through 2011 before premium amounts were lowered in 2012. The ACA introduced an income-related premium for Medicare Part D, covering prescription drugs, using the same income thresholds as the income-related premium for Part B. This new income-related premium went into effect in 2011. The income-related premium schedules for 2017 for a single beneficiary are shown in Table 1. The rows of the table distinguish the different ranges of income for a single taxpayer. The income ranges for married taxpayers filing jointly are simply double those presented here. The Social Security Administration each year uses the income reported to the IRS in the prior year (i.e., pertaining to income received two years prior, or in this case, 2015) to determine a beneficiary's income-related premium amount in a given year. Medicare Part B and D Income-Related Monthly Adjustment Amounts in 2017. 2020 Medicare Part B Reimbursement - The reimbursement for the standard Medicare Part B was $1,735.20. Any premiums paid above the standard amount should be submitted using the IRMAA 2020 Application. Young Adult Option Through Age 29 (NYS Law Chapter 240) - March 2021. Please do not submit your form/document more than once. This will only delay processing. I. Introduction Decades of rising health care costs and persistent gaps in coverage, in the form of both persons lacking formal health insurance and uncovered services for those with insurance, have motivated legislation authorizing greater involvement of the federal government in health care markets over the last 15 years. In 2003, the Medicare Modernization Act (MMA) expanded Medicare to include coverage for prescription drugs through a new Part D. In 2010, the Affordable Care Act (ACA) expanded Medicaid and established a system of health care marketplaces and premium tax credits to help enable those without insurance through their employers to purchase it at group rates. 1. COBRA Form, Notice of Rights and COBRA Rates - July 2021. This process is automatic. Your browser will redirect to your requested content shortly. Also, please do not send forms or documents via express mail. The office is closed and the package cannot be accepted. 4) If you are a HIP-HMO member turning 65 or on Medicare due to a disability, please contact HIP at (800) 447-9169 to enroll over the phone. Please identify yourself as a City of New York retiree or dependent of a retiree. For all other members enrolled in a HMO plan, please contact your health plan at the customer service numbers on the back of your ID card. Income Range (Annual, Single) Share of Expenditures Covered (%) Medicare Part B IRMAA (over the Base Premium) Medicare Part D IRMAA (over the Base Premium) Implicit Tax Rate (over the Income Range) (%). The income levels that determine eligibility for, and the amounts of, the premium tax credits are based on multiples of the FPL. 9. Health Benefits Application/Change Form (Not for use by NYCAPS Agencies) - 2022 Application will be available in mid-October for the November Transfer Period. For detailed instructions on how to submit your form/document securely through LeapFile and to view a short video, click here. Just as Social Security benefits are based on a measure of Average Indexed Monthly Earnings (AIME), eligibility for premium tax credits or the IRMAAs for Medicare Part B and Part D premiums could be based on an analogous concept of lifetime earnings subject to Medicare tax, described below as Medicare Average Earnings (MAE). The comparison of health insurance premiums based on MAE to the determination of Social Security benefits is instructive. Social Security provides a replacement rate on a measure of earnings that is not simply the last year of work before retirement or disability, but an indexed average of the highest 35 years of earnings. This formula recognizes that a single year of income could be, for reasons beyond the individual's control, temporarily high or low, and for reasons under the individual's control, unusually high in that year for the purpose of obtaining higher benefits. 3. Recent federal legislation has linked the price paid for health insurance benefits to current income. Under the Patient Protection and Affordable Care Act of 2010, individuals and families with income as high as 400% of the federal poverty level are eligible for premium tax credits that limit their health insurance premiums to under 10% of their income. Under the Medicare Modernization Act of 2003, higher-income beneficiaries face income-related premiums over three times the standard premium for Part B coverage. For workers at or near retirement age, means testing based on current income provides an incentive for early retirement, dissaving, and income manipulation, raising concerns about the efficiency of such means testing. Further, current income is subject to short-term fluctuations, making it a noisy predictor of ability to pay. Using the Health and Retirement Study and linked Social Security earnings histories, this paper introduces a measure of lifetime income that compares favorably to current income as a basis for means testing. It offers less short-term variation in premiums while improving incentives for preretirement work and saving. Source. Social Security Administration Publication no. 05-10536, available at. Form 1054 (For Use By Authorized Personnel Only). The remainder of the paper is organized as follows. Section II describes the income-related premium schedules for health insurance under the MMA and ACA, highlighting the implicit marginal tax rates on current income embodied in them. Section III discusses the conceptual differences along efficiency and equity dimensions of means testing based on current income rather than lifetime income. Section IV gives an overview of the HRS data and linked earnings records used in the analysis and outlines the calculation of MAE. The analysis of means testing in the MMA is in Section V. The main result is that in general, based on self-reported household income, there is considerable time-series variation in the level of the income-related premium for those who pay it. For some groups, there is little systematic difference in lifetime income across the households who pay very different income-related premiums. Conversely, among households paying the same income-related premium, there is wide variation in lifetime earnings. The income-related premium for Medicare Parts B and D can be expected to function very much like a tax on capital. Switching to a system of means testing in which the top decile of beneficiaries based on MAE pay income-related premiums would expose few households to premiums they cannot afford, since a high MAE implies high Social Security benefits and thus adequate current income. The analysis of means testing in the ACA is presented in Section VI, focusing on individuals age 50–62 who are nearing retirement but not eligible for Social Security or Medicare. For those who are uninsured, about 75% have incomes low enough to qualify for a premium tax credit. As with the MMA, there is considerable time-series variation in the amount of the premium tax credit due to fluctuations in self-reported annual income. This variation is largely eliminated by using MAE as the basis for means testing. For example, for uninsured individuals working in consecutive surveys, median changes in MAE are only 4.4%, with 80% of c. The FPLs in 2016, which are the basis for premium levels in 2017, were $11,880 for an individual, $16,020 for a couple, and $24,300 for a family of 4. Please turn JavaScript on and reload the page. Select Health Benefits Videos Forms and Downloads Responsibilities & Health Benefits Assistance Choosing a Health Plan Enrollment Changes in Status Effective Dates of Coverage Health Plan Premiums Medicare Part B & IRMAA Coverage for Medicare-Eligible Retirees Termination and Reinstatement COBRA Special Continuation of Coverage Disability Benefits Contact the Health Benefits Program. Creditable Coverage Notice (Employees Age 65 or Over). Table 2 shows the relationship between income levels and health insurance premiums. The first column presents a range of income levels relative to the FPL, and the second column shows, for each income range, the percentage of income at which the insurance premium is capped due to the premium tax credits. Note that the percentages continue to increase within each FPL range, between the values shown. The third column in the table calculates the implicit marginal tax on income in moving through each interval. For example, a single individual with income at 150% of the FPL ($17,820) would pay an annual premium of 4.08% of his income or $727.06. If his income increased to 200% of the FPL ($23,760), his premium would increase to 6.43% of his income or $1,527.77. The increase in the premium is $800.71, which is 13.48% of the $5,940 increase in income. Critically, a couple (indi Young Adult Option Through Age 29 (NYS Law Chapter 240) - July 2021. The Health Benefits Retiree client service walk-in center is closed. Due to the closure of the office, if you mailed or faxed forms or correspondence March 11, 2020 or after, we cannot access or process that form. Please resubmit your documents as follows: You will immediately receive notification stating "Success! Your file has been received" upon completion of your document upload. You will not receive a separate email confirmation. Please allow 30-45 days from the day you submit your document(s) for them to be processed. Coverage will be retroactive to the effective date of retirement. City of New York. 2021 All Rights Reserved, NYC is changing retiree healthcare benefits. Municipal retirees (including CUNY) originally had to decide by October 31. But that deadline has now been extended indefinitely by a court order (see below). For most PSC retirees, once they make a decision, it means one of two options: (1) Moving into a premium free Medicare Advantage plan or (2) Staying in their NYC current plan, but paying a premium for supplemental insurance. Questions for NYC Office of Labor Relations/Employee Benefits Program from 8/30 Retiree Meeting in the CHAT. The web page is organized into five parts:. The Office of Labor Relations has informed us that if you have not yet received your IRMAA reimbursement check for 2020, you should email. . Please be advised, you will NOT be eligible for the reimbursement by the City of the Medicare Part B premium 833-325-1190if you cease City of New York retiree health coverage. You may, however, reenroll in City retiree health benefits during the next Transfer Period. here. Have you ben receiving mailings from the PSC and the Welfare Fund. If not, make sure both the. and the Welfare Fund have your correct address by entering your name and correct mailing address and mailing it to the PSC-CUNY Welfare Fund at 61 Broadway, 15th floor, New York, NY 10006. CHAPTER MEETINGS AND INFORMATION SESSIONS ON RETIREE HEALTHCARE (VIDEOS). Here is a video of that meeting. Subsequently, the Retirees Chapter held information sessions, videos of which you can find here. At its April 15th meeting, by unanimous vote, the PSC Delegate Assembly supported a call for a moratorium on negotiations about the change to a Medicare Advantage plan until PSC members have the information necessary to assess the matter. CITY COUNCIL HEARING ON CHANGES TO MUNICIPAL WORKERS RETIREE HEALTH PLANS,. "Until there is a Court decision, no retirees will be moved into the new Medicare Advantage plan. Retirees will remain in the plan they were in for 2021." The NYC Senior Care "plan will remain premium-free until the new Medicare Advantage plan is implemented." Read the full joint statement here. If You Have Submitted an Application But Have Not Received Your IRMAA Reimbursement. Bill Friedheim, chair of the retirees chapter testified in person. Three lawsuits in the courts sought injunctive relief to stop implementation of the NYC retiree healthcare changes. Two of the suits were by losing bidders for the Medicare Advantage contract– UnitedHealthCare and Aetna. A third, filed by the NYC Organization of Public Service Retirees, represents municipal retirees. Over 7,000 city retirees have joined its Facebook page, including PSC retirees. All three lawsuits, while not combined, were before the same judge, Lyle E. Frank on Wednesday, October 20. The next day, he issued a Temporary Restraining Order (TRO) extending the enrollment deadline for the retiree healthcare plans beyond October 31. He wrote, "the "Court feels that the method of implementation of this plan at present has been irrational, and thus arbitrary and capricious." But the "Court has upheld the process used to pick the Alliance, so the entire process will not need to begin anew." In effect, he ruled against Aetna and UnitedHealthCare, keeping the Alliance NYC Mediare Plus plan in place. The Medicare Advantage vendor is Alliance, a partnership of Empire BlueCross BlueShield and Emblem Health. If you opt out and end up paying a monthly premium (e.g. $191 plus for NY Senior Care), payments will be deduted from your monthly pension check. The process is relatively straightforward for those in TRS. The premium will deducted from you monthly pension benefit. If you are in TIAA, the process is not as straightforward, but there are options for payment through an annuity or direct billing, including autmatic debit from your bank account. Click here for details. FAQS FROM QUESTIONS ASKED AT CHAPTER AND INFORMATION MEETINGS. Retirees are getting conflicting answers from their providers. OLR only began mailing the enrollment guide "intended for members of health plans other than Senior Care" in late September. 1) The Alliance said they would not send out letters until a formal opt-out deadline is set, and they would send them after the deadline. 2) Submitting the opt-out form online will now result in an email confirmation. That may not have been the case originally. When an opt-out submission includes an email address, the confirmation will be emailed to that address promptly. (Be sure to check your SPAM folder, as they reportedly sometimes end up there.) To opt out on the electronic form, go to. The City Council Committee on Civil Service and Labor, held a hearing on Thursday, October 28th. Video of the Sept. 13 chapter and information meeting on retiree healthcare. Letter from James Davis to Retirees on Healthcare Options. There is an excellent article in the October Clarion by Deborah Bell on " Navigating Retiree Healthcare Insurance.". Scroll to the top of the page for details. If still no answers, check the PSC/CUNY Welfare Fund FAQS;. If you opt out of the Alliance Medicare Advantage plan in order to continue with your current NYC health care plan, you will have to pay a monthly premium (except for HIP VIP and Aetna NY/NJ/PA which are premium free). Click. Barbara Caress' Presentation at 10/04/21 chapter meeting: Choosing Traditional Medicare or Medicare Advantage. Video of the October 4 chapter meeting on retiree healthcare. WHAT RETIREES NEED TO KNOW TO MAKE A DECISION. All members should receive a hard copy in the mail. Read it online here. Every fall (October or November) there will be a transfer period so retirees can change plans, from MA+ to Senior Care or from Senior Care to MA+, for the following year. Retirees currently enrolled in another supplemental plan who enroll in MA+ for 2022 will be able to switch back to the old plan only next year, for 2023. In addition, you may use your " Once in A Lifetime " option (you must be retired one year to use this option) at any time to change your health plan..
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