The Health Insurance Opt-Out Credit is designed for employees and retirees who don’t need the State’s health insurance because they are enrolled in other health insurance that is as good as or better than what the State provides. The credit can apply toward:
Calculate your premium rates.
Explains the credit and how it can be used.
Keep in mind that your drug benefits are a part of your health benefit. If you opt-out of your health plan, you are also giving up your prescription coverage. By waiving coverage, you no longer have the Basic Term Life coverage that is under part of your health benefit.
You cannot participate in the Health Insurance Opt-Out Credit if you are not eligible for the state contribution toward your health insurance premium, such as a COBRA participant, surviving family member, or an adjunct faculty member. Members who have TRICARE can receive the credit due to a change in federal legislation.