Retiree Health Care News
January 24, 2014 01:20 PM
The City of Chicago mailed a letter to annuitants regarding updates to the retiree health care plan. This letter was dated May 15, 2013. A copy of the letter can be viewed here. Please read this letter carefully. The letter details the following:
The City extended existing coverage and benefit levels through December 31, 2013.
The City will continue to subsidize the health care plan for annuitants who retired prior to August 23, 1989.
The City will make changes to the retiree health care plan starting on January 1, 2014. The changes will include adjustments to premiums and/or deductibles, some benefit modifications, and ultimately, the phase out of the plan by the beginning of 2017. The City will release more information regarding the revised structure this summer.
In other news, Governor Quinn signed into law Public Act 98-0043 on June 28, 2013. This law extends the LABF's retiree health care subsidy until such time as the City no longer provides a health care plan or December 31, 2016, whichever comes first. The LABF's subsidy of $65 for Medicare eligible annuitants and $95 for non-Medicare eligible annuitants had been set to expire on June 30, 2013.
Please watch our website at www.labfchicago.org for new information regarding benefits, investments, forms and publications, and other Fund updates.