Ohio law allows OPERS to provide premium reimbursement to those who are not eligible for premium-free Medicare Part A. As a Medicare-eligible OPERS benefit recipient, you are required to enroll in and pay the monthly premium for Medicare Part A coverage through the Centers for Medicare and Medicaid Medicaid in the United States is a federal and state program that helps with medical costs for some people with limited income and resources. Medicaid also offers benefits not normally covered by Medicare, including nursing home care and personal care services. The Health Insurance As…Medicaid
Does OPERS provide health care coverage?
While OPERS is not required to provide health care coverage by law, the Ohio Public Employees Retirement System recognizes the important role it plays as part of a secure retirement. When considering retirement, you should keep in mind that once retired you will no longer be covered under your employer's group medical plan.
What is opers and how does it work?
OPERS provides retirement income and benefits to Ohio public employees. FAQ: As a public employee, do I have to contribute to OPERS? What does it mean to be an OPERS member? What does OPERS do with my contributions? How can I access my money?
How can I access the funds I've paid OPERS?
You can access the funds you've paid OPERS two ways: When you are ready to retire the money you have invested with OPERS will be available to you. Your retirement payment options depend upon the retirement plan you choose.
Can I withdraw money from my OPERS account?
No. While you are employed by an OPERS-covered employer, you cannot make any withdrawals or borrow against your account for any reason. Can I change my plan? Yes, OPERS members have the ability to change their plans.
Do state of Ohio employees pay into Medicare?
RETIREMENT PROGRAMS (Ohio public employment is not subject to Social Security withholding except Medicare Part A tax.)
How does automatic premium reimbursement work?
Via Benefits offers an Automatic Premium Reimbursement feature for most insurance policies. The reimbursement request and proof of payment come directly from your insurance company and are submitted automatically to Via Benefits. This can be set up online or by calling Via Benefits.
What is OPERS Medicare connector?
Medicare Connector – A service offered to OPERS participants enrolled in Medicare Parts A and B that provides individual plan selection assistance. The Connector is administered by OneExchange for OPERS and their Medicare- eligible retirees and dependents.
How does Ohio PERS affect Social Security?
Social Security. As a member of OPERS you do not pay into Social Security. OPERS replaces Social Security for Ohio public employees.
What is a Via benefit payment?
often a prescription drug coverage plan—through Via Benefits, you pay a monthly premium for each plan to each insurance company. If you use your coverage to go to the doctor or get a prescription, you may have to pay deductibles or copays to the doctor or pharmacy.
What is a premium reimbursement?
A Premium Reimbursement Account, under Internal Revenue Code (IRC) Section 125, allows individuals to set aside some of their paycheck to help pay for health coverage not sponsored by an employer. The money is taken out of each check before taxes are withheld, which helps lower the net cost for buying health insurance.
Does PERS pay into Medicare?
Medicare Part D and CalPERS Medicare Health Plans CalPERS participates in a Medicare Part D prescription drug plan for members enrolled in a CalPERS Medicare health plan. The standard Part D premium is paid through your CalPERS health insurance premium.
What is an OPERS retiree medical account?
A Retiree Medical Account is an account you can use to pay for qualified health care expenses you incur after you have terminated OPERS-covered employment.
Does OPERS offer health insurance?
OPERS Health Care 2021. OPERS offers access to health care coverage for eligible retirees and their eligible dependents. Health care coverage includes a medical plan, prescription drug plan, dental plan and vision plan.
Can you collect both Social Security and PERS?
Yes. There is nothing that precludes you from getting both a pension and Social Security benefits.
How much is Social Security reduced if you have a pension?
We'll reduce your Social Security benefits by two-thirds of your government pension. In other words, if you get a monthly civil service pension of $600, two-thirds of that, or $400, must be deducted from your Social Security benefits.
How do you avoid the Windfall Elimination Provision?
The WEP can reduce eligible Social Security benefits by as much as 60%. It has a maximum deduction equal to one-half of your pension payment. To avoid the WEP, you'll need to work at least 30 years in a qualifying (Social Security-eligible) position with substantial earnings (for 2021, this is $26,500 or more).
How much do you contribute to OPERS?
How much do I contribute to OPERS? As a member, you contribute 10% of your salary toward your retirement. Your employer contributes an amount equal to 14% of your salary. That means an amount equal to 24% of your total salary is being invested by OPERS. 10% your contribution. 14% your employer's contribution.
Can you annuitize your Oppers account?
Your retirement payment options depend upon the retirement plan you choose. You can either annuitize your account and receive lifetime payments, or you can take a lump sum and annuitize the remaining portion (if any).
Health Reimbursement Arrangement (HRA)
An HRA is an account funded by OPERS that provides tax-free reimbursement for qualified medical expenses such as monthly post-tax insurance premiums, deductibles, co-insurance, and copays incurred by eligible benefit recipients and their dependents.
OPERS Connector
OPERS has partnered with Via Benefits to offer the OPERS Connector. The OPERS Connector assists benefit recipients in finding and enrolling in a medical plan and administers the OPERS HRA. When you select an individual plan through Via Benefits, you can use Via Benefits' ongoing support for carrier claim resolution and medical plan questions.
OPERS Vision and Dental Plans
If you are receiving a monthly OPERS benefit payment, you qualify to enroll in the optional OPERS vision and dental plans, even if you don't qualify for the HRA.
Open vs. closed HRA
The OPERS HRA for Pre-Medicare benefit recipients is an open HRA. An "open HRA" means that benefit recipients can receive monthly deposits into their HRA and use the funds to be reimbursed for qualifying expenses even if they don't use the OPERS Connector to enroll in a medical plan.
Getting reimbursed for qualified medical expenses
Once you begin receiving HRA deposits, Via Benefits will provide a Getting Reimbursed Guide (link opens in new tab) containing more details. The guide will include instructions for managing your account, how to submit expenses for reimbursement, how to set up automatic premium reimbursement, and a list of eligible expenses.
Via Benefits Website or Mobile App
The quickest and easiest way to manage your HRA is to use the Via Benefits website or mobile app. You'll receive your reimbursements faster since they can begin processing your request right away rather than waiting to receive your request in the mail.
How much do you contribute to OPERS?
Instead, you contribute 10 percent of your salary to OPERS and your employer contributes the equivalent of 14 percent of your salary. OPERS invests these contributions in order to provide you with retirement benefits when you retire. Social Security and OPERS both provide retirement, disability and survivor benefits, ...
How to change your OPER plan?
Making your plan change. To begin the plan change process, you must contact OPERS to request the appropriate form. You can also request this form during a plan change counseling session with an OPERS representative.
When does a retirement plan change take effect?
Once OPERS has received the properly completed form, your retirement plan change will be processed and will take effect on the first day of the month following the date it was received. For example, if your plan change form is received on July 15, your plan change will take effect Aug. 1. More information.
How much does an OPERS member contribute to health insurance?
OPERS will contribute up to $105 toward an eligible retiree’s health insurance premium each month. This is for the retiree ONLY and not for dependents. OPERS will not continue to contribute up to $105 if the member does not continue coverage with EGID.
Can you deduct premiums from your retirement check?
You will select your premium payment option when completing the insurance forms. Your retirement benefit must cover your premiums to elect the option for retirement check deduction.
What is a health care premium receipt?
A: Retirees enrolled in a plan through the Connector need to access a health care premium receipt from OPERS that reflects the amount deducted from their pension benefit for health care. This receipt is needed to file for a recurring reimbursement of those deductions from their Health Reimbursement Arrangement accounts.
Is unpaid leave considered earnable in Ohio?
A: Ohio law allows the payment of unpaid leave to be considered earnable salary for the purposes of pension calculation if your employer has an approved conversion plan on file and the payout meets the criteria outlined in the plan.
