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Buy-Out for State Employees and Retirees

If you have access to non-GIC health insurance through your spouse or another employer-sponsored product, it may pay to participate in the Buy-Out Program.

There are two buy-out periods and your reimbursement will be determined based on your product at the end of the covered period.

Annual Enrollment:  April 3 - May 1, 2019

If you were insured with the GIC on January 1, 2019 or before, and continue your coverage through June 30, 2019, you may apply to buy out your health plan coverage effective July 1, 2019.

Send the completed Buy-Out form to the GIC no later than May 1, 2019 for the July 1, 2019 buy-out or November 1, 2019 for the January 1, 2020 buy-out. Forms received after the deadline will not be accepted.

October 2 — November 1, 2019

If you are insured with the GIC on July 1, 2019 or before, and continue your coverage through December 31, 2019, you may apply to buy out your health plan coverage effective January 1, 2020. The enrollment period for this buy-out will be October 2 – November 1, 2019.

In order to be eligible, you must have other non-GIC health insurance coverage through another employer-sponsored plan that meets Internal Revenue Service “minimum value” criteria and must maintain basic life insurance. Under the Buy-Out plan, eligible state employees 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 paycheck; employees of housing, other authorities and retirees will receive a monthly check. The amount of payment depends on your health plan and coverage.

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