We have received calls from retirees on the following two issues over the past weeks: The Aetna-Hackensack Meridian Health Systems Negotiation and, Plan changes effective July 1 for retirees who have one spouse Non-Medicare […]
Protecting Your Spouse’s / Beneficiary’s Right to Your Pension (Should You Die ‘In- Service – While Working’)
If you were to die ‘in-service’ (while still an active employee) your spouse/ beneficiary is entitled to your Life Insurance plus what you have contributed to the Pension fund. Like most TPAF members, you […]
What’s New for 2024 – From NJASBO Retirement and Benefit Services
Pension Loans: The pension loan interest rate for calendar year 2024 has been determined to be 11 percent per year on the declining balance of the loan. The administrative processing fee remains at $15.00 […]
SEHBP Health Plan Rates – Effective January 2024
On August 3rd, the anticipated AON report of Ch 44 was released by the Treasury Department. The report indicates that the savings to employers over the past three years was $462.7 million, far exceeding […]
School Employees Health Benefit Commission Approves 2023 Rates:
For those districts who have their Health Benefit Coverage through the School Employees Health Benefit Plan (SEHBP), you will see premiums rise 15.1% beginning January 1, 2023. The increase is 15.6% for Medical and […]
Health Care Rates for School Employees Covered by the SEHBP May See Significant Increases in 2023
I am writing to provide some information about the projected premium increases for the School Employees’ Health Benefits Program (SEHBP) for 2023. This information is only for those districts and retirees covered by the […]
Pension and Health Benefit Fall 2020 Update
Pension Contribution Considering the state’s financial picture, the FY 21 Budget includes a $4.7 Billion dollar payment into the pension system which is only slightly lower than the original budget proposal of $4.9 […]
School Employees Health Benefit Plan Design Committee (SEHBP PDC) Approves Changes for 2019
Attention NJPSA Members! School Employees Health Benefit Plan Design Committee (SEHBP PDC) Approves Changes for 2019: On Monday, September 17, 2018 the School Employees Health Benefit Plan Design Committee (SEHBP PDC) approved changes to […]
Court Decision On OPTUMRx Selection by State-
On May 11, 2018 the NJ Superior Court, Appellate Division, ruled in favor of Express Scripts who had filed an appeal of the SEHBP/SHBP award for the Prescription Benefit Management (PBM) to OPTUMRx […]
What’s New for 2018 in Pension and Benefits?
New Prescription Manager: – OPTUMRx Effective January 1, 2018, members (active and retired) whose prescription coverage is through the SEHBP will have a new Prescription Management Service – OPTUMRx replaced Express Scripts. Those impacted […]