OP&F News

Board approves health care transition for 2019

The OP&F Board of Trustees unanimously approved the implementation date and framework for a new health care model during its meeting Tuesday, March 27. After reviewing and discussing several scenarios, the Board selected a model that would provide stipends to eligible retirees and their spouses at an amount that would keep the health care fund solvent for 15 years. The new plan will be implemented on Jan. 1, 2019.

Once OP&F’s independent actuary finishes its final calculations the stipend amounts will be announced. OP&F expects the final stipend amounts to be very close to the amounts presented during the March 27 Board meeting. Details such as eligibility guidelines will also be announced in the coming weeks. OP&F’s health care partner, Aon, has already been working with staff in anticipation of the new plan design, which will allow OP&F retirees to use the monthly stipend amount to select a health care plan that best fits the specific needs of their family.

With these decisions now made, Aon and OP&F can move forward with a plan to notify OP&F retirees of the process of selecting a health care plan for 2019.

Posted 3/28/2018

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