Tuesday, May 8, 2012

PCS: Retiree & Employee Health Insurance - Part 4

For the 2011-12 year, the cost of health insurance premiums at the PCSD is $4.2 million.                 

The portion of the $4.2 that goes to the cost of health insurance premiums for retirees is $1.9 million.

Of the $1.9 million (for retirees)...
  • $1.7 million is for Health Insurance Premiums to the plan available to active employees (St. Lawrence/Lewis Plan).
  • $191,370 is for another health insurance premium: Medicare Insurance (From age 65 on, the school district pays for two insurances for retirees and spouses: Medicare and the St. Lawrence/Lewis Plan). 
The portion of the $4.2 million that goes to the cost of health insurance premiums for active employees is $2.3 million.
Of the $2.3 million (for employees)....
  • CSEA employees pay 3% of the cost of individual health insurance premiums and 9% of the cost of the premiums if they opt for family or 2-person coverage.
  • Teachers pay 6% of the cost of their health insurance premiums. 
  • Administrators pay 10%. 
To summarize, for the current year (2011-12), the approximate cost of health insurances premiums and the contributions paid by retirees and employees are:
     Cost of Insurance                                                      Amount Contributed by Retirees & Employees

~ Retirees (2 insurances):
      $1.9 million for premiums.......... $11,000 - Retirees' contribution to premium.*

      $176,000 for premiums...............$17,800 - Administrators' contribution to premium.

      $1.3 million for premiums..........$72,000 -Teachers' contribution toward premium.

       $813,000 for premiums............$41,500 - CSEA contribution toward premium.

* The $11,000 retiree contribution includes one administrator, a teacher, and CSEA retirees. The former administrator contributes $1,700 this year; the former teacher (who retired under a contract that required a 2% contribution from retirees) pays $300; and the remainder, $9,000, is contributed this year by retired CSEA employees.

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