Retirees from the public service will pay the same health insurance premiums as current public employees, officials said this week.

In a statement Monday, Premier Ralph O’Neal said that under the government’s recently signed contract with its new provider, Hyperion Risk Solution Limited for Bupa Insurance Company, the 219 retirees covered under the insurance will be treated similarly to other employees.

“Government has agreed to a one-time financial endowment to offset premiums to retirees for the life of the new health insurance plan,” Mr. O’Neal said.

Under the new two-year contract, programme participants face significant monthly premium increases, which vary depending on whether family members are covered. Government pays 50 percent of employees’ $220 monthly premium, but does not subsidise family or spouse rates.

Retiree rates had been projected to increase by several hundred dollars each month, according to a human resources circular dated March 17.

 

See the April 7, 2011 edition for full coverage.