The Board's careful stewardship of resources and positive financial outcomes made the dues-free month possible.
The Board of Pensions is pleased to announce that it will grant a December dues holiday for the Medicare Supplement Plan. So, those enrolled in the plan for December will receive dues-free coverage for that month.
"We are so happy to be able to provide some economic relief to this group of retirees and their families," said Patricia M. Haines, Executive Vice President and Chief Benefits Officer at the Board of Pensions. "This year has been so challenging for so many. The Board hopes this will help ease any burdens these members may be carrying this holiday season."
The monthly cost of the plan is $275 for individuals and $550 for couples. Participants in the plan will be notified about the dues holiday in November.
The Board's careful stewardship of resources and positive financial outcomes came together to make the dues holiday possible. In further good news, the cost of the Medicare Supplement Plan will be unchanged in 2021, for the fourth consecutive year.
The Medicare Supplement Plan expands coverage for members, spouses, surviving spouses, former spouses, and dependents who are enrolled in Medicare Parts A and B. It includes a Part D prescription drug plan and other benefits, such as a $125 preventive allowance to help with the cost of routine screenings and routine vision exams. It also provides coverage for medically necessary care during travel outside the United States.
"We appreciate our retired members and their families who have chosen to supplement their Medicare coverage through the Board of Pensions," Ms. Haines said. "Meeting their coverage needs remains important to us and we look forward to serving them in the year ahead."