Your health care costs, retirement counseling, and other information from the FSU
4/3/2020
Dear Colleague,
I hope you are staying safe and are well during these difficult times. Here is an update on what is going on.
► Your health care costs: The good news is that there will be no increase in copayments or deductibles. The bad news is that premiums will; the average increase across all plans will be 5.1%. This increase is in-line with market trends between 5% and 7%. The GIC indicated that the driving factor is medical inflation, in other words, the cost of the product itself. For more on this, see the attached Power Point that was used by the Group Insurance Commission (GIC) at their meeting that approved these premium increases. GIC open enrollment begins April 6 and runs through May 1.
Note that the FSU does not negotiate health care premium costs; these are set by the Group Insurance Commission. Not happy about these costs? Send testimony or speak at the listening tour when this occurs next winter.
► Donation to Beacon Student Fund: The FSU Executive Committee authorized a donation in the amount of $200 on behalf of FSU members to the Beacon Student Fund. Members who wish to donate can do so here.
► Letter to Governor Baker: The FSU Executive Committee voted to be a signatory to a letter to Governor Baker regarding the urgent need for the state to produce more personal protective equipment (PPE) for the front line workers battling the crisis.
For FSU/MTA Members in Good Standing
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►Retirement counseling from the MTA. Sessions are available by phone or online to help members decide the best time to retire, determine if you have buy-back opportunities, provide information on retiree health insurance, Medicare and Social Security benefits, and answer many other questions. Please see here for more information and to schedule an appointment (please have online access during the call). In addition, those moving from ORP to MSRB should consider making liquid TIAA annuity assets pay off service purchased and related costs. Contact Ed McCourt directly for this information (see his contact information on the link above). ►MTA Annual Meeting: Given the coronavirus, the Massachusetts Teachers Association (MTA) Annual Meeting will now be held virtually on Saturday, May 2. Let us know by April 14 if you want to be a delegate to this meeting. This in an election year for MTA President and Vice President, so we are seeking to fill our slate of delegates. ►FSU Annual Meeting: Thursday, April 30th, 9-11; this will be virtual. More information to come. |
Sincerely,
Marlene Kim
FSU President
Professor, Economics
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