Retiree Health Insurance Plan

Effective 7/19/1995

Revised: 5/9/2006; 7/1/2014

Adopted by BOC 4/2014

RETIREE HEALTH INSURANCE PLAN

For Employees Hired On ORBefore 6/30/2006

Any employee who retires under the Local Government Retirement System is eligible to remain in the Health Care Program until age 65 or obtain Medicare, whichever is first.

The County’s participation in the cost of premium for the health care benefit will be based on the following schedule:

Any age with a minimum of 30 years of service 100% paid

*Age 50 and 20 or more years of service 100% paid

* Age 50 and 15-19 years of service 75% paid

*Age 50 and 10-14 years of service 50% paid

*Any age and 5-9 years of service 0% paid

* Waive age for employees who retire due to disability

For Employees Hired On OR After 7/1/2006 AND through 6/30/2014

Employees who work for Iredell County fifteen (15) consecutive years in a position with benefits and who retire under the NC Local Governmental Retirement System (NCLGRS) are eligible to participate in the County’s Retiree Health Insurance Plan until they reach age 65 or obtain Medicare, whichever is first.

The County will contribute to the cost of the retiree insurance premiums based on the years of service with IREDELL COUNTY using the following schedule:

30 or more years of service100% paid

Age 55 and 25-29 years of service75% paid

Age 55 and 20-24 years of service50% paid

Age 55 and 15-19 years of service25% paid

After having worked fifteen (15) years for Iredell County and becoming eligible for participation in the retiree insurance plan, the service credit given by the NCLGRS for sick leave reported on the application for retirement can be counted as years of services for purposes of determining how much the County will contribute toward the premium for retirees.

At retirement, retirees may elect to carry dependents who have been covered under the County’s Health Plan for at least two years prior to the employee’s retirement. However, the dependent will not be eligible to enroll after the initial election or re-enroll if dropped at any time after the initial enrollment election.

Failure to pay premiums timely may result in loss of coverage under the plan.

Retiree Health Insurance Changes Effective 7/1/14

All employees hired on or after 7/1/14 will NOTbe eligible for the Retiree Health Insurance Benefit.

Current and future retirees and dependents may be subject to compliance with wellness requirements as deemed appropriate by County Management. Failure to comply may result in increased premiums.