Bill Summary: HB 1647

• Allows retired teachers who have lost health and dental insurance coverage under the Oklahoma Employees Insurance and Benefits Act to reacquire such coverage.

• Retired members may reacquire coverage by paying an as-rated premium amount determined annually by the Employee Group Insurance Division of the Office of Management and Enterprise Services if they experience a qualifying event.

• If a retired teacher reacquires insurance based on paying the as-rated premium, the Teachers' Retirement System will not make the subsidy payment otherwise authorized by law.

• The act becomes effective July 1, 2013, with an emergency clause for immediate implementation.