News

News Fall 2022 Health Insurance Buy-Out Program

9/23/2022
  • Group Insurance Commission
2022 Health Insurance Fall Buy-Out Program, October 3 - 28, 2022

The GIC's Fall 2022 Health Insurance Buy-Out Program will take place from October 3rd through October 28th. Applications will be available starting Monday, October 3rd.

General Information

Under the Buy-Out program, eligible state employees and state retirees receive 25% of the full-cost monthly premium in lieu of health insurance benefits for one 12-month period of time. Employees in HR/CMS and UMASS agencies will receive the remittance monthly in their paychecks; employees of housing and other authorities and state retirees will receive a monthly check. The amount of payment depends on each member's health plan and coverage.

Eligibility

Employees insured with GIC health insurance on July 1st of this year or before, and who continue their health coverage through December 31 of this year may apply to buy out their health plan coverage effective January 1 of next year. Please note that municipalities are not eligible for this buyout program.

How to Enroll

GIC members now have access to MyGICLink, GIC's new Member Benefits Portal. State employees and state retirees are encouraged to make their Health Insurance Buy-Out enrollment changes directly through MyGICLink. Members also have the option of submitting changes using GIC Online Forms or GIC Print Forms. All applications must be submitted by Friday, October 28th.

If you would like more information about GIC's Health Insurance Buy-Out Program, please visit the GIC Health Insurance Buy-Out Program page.

Group Insurance Commission 

The Group Insurance Commission (GIC) provides high-quality, affordable health insurance and other benefit options to over 220,000 subscribers and 460,000 members.
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