Keeping an eye on health insurance

Keeping an eye on health insurance
Weekly Video Update 11/8/19

NOVEMBER 8, 2019: This week’s video message focuses on the upcoming retiree health insurance plan design process for Fiscal Year 2020. I realize that it’s only November 8th, but the planning process for the next fiscal year gets underway now. In Massachusetts, the state and local fiscal year begins on July 1.

While we do not anticipate any dramatic changes in plan design or insurance premium costs, we can never be certain. We are very closely monitoring the state Group Insurance Commission (GIC), as well as local health insurance plans for any changes that could negatively impact our members.

The GIC meets again on Thursday, November 21st for what will be the formal start of their FY21 planning process. GIC health insurance plans are now in the second year of a three-year contract with the current providers. The contract can be extended to five years.

Mass Retirees be at the GIC meeting and will report any breaking news as it occurs.

But we need your help keeping an eye on things at the local level. If you learn of any potential changes in local retiree insurance plans in your community, please let us know.