Ill. Admin. Code tit. 80 § 2200.520

Current through Register Vol. 48, No. 18, May 3, 2024

Section 2200.520 - Percentage of Annuity

CMS shall calculate the premiums due under this Part as follows:

a) For each Retired Employee, Annuitant or Survivor with primary coverage under the State program, the premium shall be equal to 2% of the total annual annuity received by the Retired Employee, Annuitant or Survivor from any and all of the five State Retirement Systems;

b) For each Retired Employee, Annuitant or Survivor with primary coverage under the federal Medicare health insurance program (Title XVIII of the Social Security Act, as added by Public Law 89-97 ), the premium shall be equal to 1% of the total annual annuity received by the Retired Employee, Annuitant or Survivor from any and all of the five State Retirement Systems;

c) For each Retired Employee, Annuitant or Survivor age 65 or older whose primary coverage would otherwise be coverage under the federal Medicare health insurance program, except for his or her inability to contribute to Medicare while actively working, the premium shall be equal to 1% of the total annual annuity received by the Retired Employee, Annuitant or Survivor from any and all of the five State Retirement Systems.

Ill. Admin. Code tit. 80, § 2200.520