SB309 Summary

• Employees retiring after December 31, 2011, must have at least 10 years of creditable health insurance coverage to be eligible for retiree coverage under the State Employees' Health Insurance Plan.

• Employer contributions for retirees are reduced by 4% for each year of creditable coverage less than 25 years and increased by 2% for each year over 25, with an additional reduction based on the difference between Medicare entitlement age and the employee's retirement age.

• Postsecondary institutions must contribute to the State Employees Insurance Fund for each retired employee covered by the plan who retired after December 31, 2011.

• Changes to employee or retiree health insurance premium contributions now require only a simple majority board vote instead of a two-thirds majority vote.

• Employees or retirees who knowingly submit false information or engage in fraudulent activity may be required to repay claims and expenses and can be disqualified from coverage; low-income assistance is provided for those earning up to 300% of the federal poverty level.