Posted: Monday, December 3, 2012
NYSHIP Opt-Out Program
NYSHIP will offer the Opt-Out Program to CSEA, NYSCOPBA, PEF, PBANYS, and M/C employees effective January 1, 2013. This program allows eligible employees who have other employer-sponsored group health insurance to opt out of their NYSHIP coverage in exchange for an incentive payment. The annual incentive payment is $1,000 for opting out of individual coverage or $3,000 for opting out of family coverage.
If you are currently enrolled in NYSHIP and wish to participate in the Opt-Out Program, you must elect to opt out during the annual Option Transfer Period and attest to having other employer-sponsored group health insurance. You must complete and return the NYS Health Insurance Transaction form and the 2013 Opt-Out Attestation form to Cleveland Hall 410 by Monday, December 31. If you enroll in the program and you are eligible for dental and vision coverage, your eligibility for dental and vision coverage will not be affected.
If you currently participate in the Opt-Out Program and wish to participate in the program for 2013, you must complete a new Health Insurance Transaction Form, electing the Opt-Out Program for 2013, and the Opt-Out Attestation form. If you do not make the election for 2013, your enrollment in the Opt-Out Program will end and the incentive payment credited to your paycheck will stop. You must elect the Opt-Out Program on an annual basis.
The complete Opt-Out Program description, including eligibility requirements and enrollment forms, is available on the Human Resource Management website.
Please call Human Resource Management at ext. 4821 with questions or for additional information.