Announcement from the State Teachers Retirement System (STRS)
At the October meeting of the State Teachers Retirement Board, the board approved measures that will provide a $600 rebate to current health care plan enrollees and new, lower premiums for most plan enrollees for 2023. The new 2023 premiums will be even lower than what was recently shared in open-enrollment materials.
Based on the health care funding status and increased recoveries in the Medicare prescription drug program, the board approved a health care premium rebate of $600 for each enrollee with coverage by the STRS Ohio retiree health care medical program in October 2022. Retirees will receive an estimated $66.4 million in rebates for themselves, spouses and dependents. The premium rebate will be paid to STRS Ohio retiree health care program members in the December 2022 pension payment (premium rebate will not exceed premiums actually paid in 2022).
- Related: Eligible benefit recipients to receive cost-of-living increase
- Related: PERSpective: Medicare lowering Part B premium
The newly approved medical premiums impact STRS Ohio Health Care Program enrollees in the Aetna Medicare Plan as well as benefit recipients enrolled in non-Medicare plans. A sample of the new premiums is shown below. STRS Ohio will also be sharing this news via email, online, through our social media channels and by direct mail for enrollees who do not have an email address on file.
