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  • Medical Premiums for Retired Members

    Jan 28, 2020, 8:07 AM By MOSERS

    Many employees are staying active employees due to the expense of insurance premiums. Is there any possibility that a vested active 61-year-old employee with 12 years of service could retire and keep their insurance and only pay the current active status rate until they reach 65? Could this be something that could be explored for those that are within 5 years of Social Security?

    Thank you for your suggestion. Since your question relates to medical insurance, please contact your medical insurance provider. For most state employees, that is Missouri Consolidated Health Care Plan (MCHCP). If you are employed at a college, university, or the Department of Conservation, contact your human resources/employee benefits office. As a reminder, at MOSERS, we administer retirement, life insurance, and long-term disability benefits, but not medical insurance. We cannot respond to questions about benefits we don’t administer. 

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  • State Employee Pay Raise?

    Sep 21, 2018, 1:53 PM By MOSERS

    I heard that the pay increase for 2019 for state employees will not be given to state employees on their check, put is being used for their insurance premiums. If that is true does not seem fair as some employees do not carry state insurance... so do they get a raise?

    We administer retirement, life insurance, and long-term disability benefits but are not involved in employee pay or medical insurance decisions so we do not know the answer to your question. Your agency’s human resources staff may be able to provide you with more information.

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  • Medical Premiums & MOSERS Retirement Benefit Check

    Jul 5, 2018, 2:49 PM By MOSERS

    My husband and I both retired in our late 50's and still have 5 years to go before we reach medicare age. Hopefully this won't happen, but if insurance keeps going up what would happen if the amount of our insurance exceeds the amount of my benefit check? Both of our premiums are taken out of my check. I'm worried about the increasing cost. As we don't want to lose the insurance would we be able to pay the amount not covered by my benefit check directly to MOSERS?

    Note: MOSERS administers retirement, life insurance and long-term disability insurance benefits. For most state employees, health care is administered by Missouri Consolidated Health Care Plan (MCHCP). They provided us with a response for this question below.

    MCHCP will not deduct partial premiums from a retirement benefit check. If the MCHCP premium is more than the retiree’s benefit check amount, then MCHCP will automatically set up the member on direct bill payment. MCHCP will mail a billing statement to the retiree/member showing the premiums due and the date payment is due. Members on direct bill have other payment opportunities including automatic (ACH) withdrawal from a bank account or online bill pay. The automatic withdrawal authorization form is available can be found on the MCHCP website: http://www.mchcp.org/forms/st_autoWithdraw.pdf.

    Also, members on direct bill may choose to pay premiums online through their myMCHCP account using a debit or credit card. Please note the bank which administers the online payment process for MCHCP charges a service fee when a member uses this payment option.

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  • Annual Leave and Medical Premiums

    May 9, 2018, 9:24 AM By MOSERS

    I have heard that at the time of retirement that you can use your AL balance to pay for medical coverage for up to a year.  Is this true and if so how does it work?

    Yes, this is true. Check with your HR staff and MCHCP for specific information as it relates to you, but here is some general information we received from MCHCP on the topic: Your employer’s payout for your unused annual leave/vacation can be used to pay your medical insurance premiums during the remainder of the year in which you retire. When you fill out your MCHCP Retiree Enrollment Form, you may elect to deduct your premiums using your one-time lump-sum annual leave payout as long as you did not opt out of the Cafeteria Plan’s premium only category and current premiums are deducted pre-tax. Depending on how many hours of annual leave you have, this can be a sizeable amount and can result in tax savings!

    After you send the form in, MCHCP will contact your department’s payroll representative to verify your lump-sum payout amount. You may only pre-pay for the remaining premiums in the year you have retired. For example, if you retire in July, you may potentially pay for your August-December premiums with your unused annual leave payout.

    For more information about your particular situation, please contact MCHCP at (800) 487-0771.
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Disclaimer

We strive to provide the most accurate information possible in our answers to Rumor Central questions. However, occasionally, laws, policies or provisions change and individual circumstances may vary. Please contact a MOSERS benefit counselor or see the handbooks in our website Library for more detailed information. If there is any difference between the information provided in this blog or on the MOSERS website and the law or policies that govern MOSERS, the law and policies will prevail. See our Privacy, Security & Legal Notices for more information.