Health Insurance
City Retiree Health Insurance
The City of Chicago has agreed to continue to offer its retirees healthcare coverage through June 30, 2013. The City of Chicago and LABF share in the cost of healthcare thereby reducing the premium for the individual retiree.
For those individuals retiring on or after July 1, 2005, the City’s share of the annuitant health care premium will be based upon the number of years of city service you have at retirement. Please see the City Percentage Table for the percentage the City pays towards the total premium for eligible retirees and their dependents.
In addition to the City’s contribution, State statue allows the LABF to pay a monthly subsidy on behalf of the eligible retirees through June 30, 2013. For annuitants ineligible for medicare, the Fund subsidy is $95.00. For annuitants eligible for medicare the Fund subsidy is $65.00.
The Current cost for the city annuitants is calculated based on retirement date and years of service. Please see BMO Health Insurance Rates for more information. (back to top)
Q. Are You Eligible for Medicare?
A. Your health insurance premium will be reduced when you become medicare eligible. For more information, see Medicare and You. (back to top)
Board of Education Retiree Health Insurance
The Board of Education does not contribute to the costs for retiree health insurance. Premiums are determined from prior usage of the plan. If you are a Board of Education Retiree who has elected a health insurance deduction through LABF, the current cost took effect January 1, 2010. For medicare ineligible annuitants the monthly deduction is $820.00. For medicare eligible annuitants the monthly deduction is $305.00.
In addition, State statue allows the LABF to pay a monthly subsidy on behalf of the eligible retirees through June 30, 2013. For annuitants ineligible for medicare, the Fund subsidy is $95.00. For annuitants eligible for medicare the Fund subsidy is $65.00. (back to top)