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NJ S4657
Bill
Status
6/26/2025
Primary Sponsor
Gordon Johnson
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AI Summary
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Eliminates State reimbursement for income-related monthly adjustment amounts (IRMAA) surcharges on Medicare Part B and Part D premiums for School Employees' Health Benefits Program (SEHBP) retirees
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Applies to all qualified retirees regardless of retirement date, effective for Medicare premiums paid on or after January 1, 2025
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State will continue to reimburse standard Medicare Part B and Part D premiums for qualified retirees and their spouses, but not the additional income-based surcharges assessed to higher-income beneficiaries
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Affects retirees from the Teachers' Pension and Annuity Fund, board of education employees, county college employees, and members of certain locally-administered pension funds
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Estimated to save the State $35 million in Fiscal Year 2026 according to Department of Treasury projections
Legislative Description
Modifies reimbursement for certain premium charges under School Employees' Health Benefits Program.
Withdrawn from the Files
Last Action
Withdrawn from Consideration
6/26/2025