April 24, 2013

Maragos: County to Be Credited Nearly $2M for Medicare Payment

Mineola, NY- Nassau County Comptroller George Maragos announced the County is receiving a credit of $1,928,141.28 for Medicare Part D on the May 2013 New York State Health Insurance Program (NYSHIP) bill. The credit is due to a reconciliation of $254,674.48 from 2011 and $1,673,467.20 for the fourth quarter of 2012. This is expected to be the last credit as effective January 1, 2013 these credits are reflected in lower health premiums payments by the County.

“With the year after year increases to the cost of health insurance receiving nearly a $2 million subsidy is welcomed”, said Comptroller George Maragos. “The better part is that going forward the subsidy is built right into the monthly premium cost as opposed to having to wait for a credit for months at a time.”

The Empire Plan Medicare Rx prescription plan coverage for retirees in 2013 has provided lower monthly rates for the County for those Medicare eligible retirees and their Medicare eligible dependents. The Medicare eligible retiree premiums have been reduced by 4.7% or 2.7% depending on whether they have an individual or family plan.
NYSHIP is the largest public employer health insurance program in the nation, outside the Federal government. NYSHIP provides coverage to over 1.2 million State and local government employees, retirees and their families.

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