The cost of health insurance premiums is a monthly budget item in retirement.
• Decide on individual or family health insurance
• Estimate your sick leave credits
Your cost for retiree coverage will be the current employee rate charged on a monthly basis.
Unused sick leave accruals, up to a maximum of 200 days, are converted to a lifetime monthly credit towards the cost of your retiree health insurance. The calculation is based on your age, salary and sick leave accruals at the time of retirement.
You must choose one anuitant option prior to your retirement. The option that you choose only affects your sick leave credit. It does not affect eligibility for dependents to remain covered under your retiree plan.