b'How Do I End Insurance Coverage? Subsidy ProgramHealth Insurance Premium Subsidy for MedicareCTPF retirees whose final teaching service was with theCTPF provides a premium subsidy for Medicare Part B and Chicago Public/Charter Schools may qualify for a partialPart D coverage. Members with a pension benefit effective subsidy of their insurance premiums. A surviving spouse/ date prior to July 1, 2016, also receive a subsidy for child receiving a survivors pension may also qualify Medicare Part A (for members who must pay a premium). for a subsidy. Costs Not SubsidizedThe amount CTPF can spend on annuitant healthCTPF does not subsidize Medicare penalties or insurance is limited by state law. Each year, the CTPFadjustments. If you are disenrolled from Medicare for Board of Trustees sets a premium subsidy amount. Theany reason, CTPF may recoup any overpaid premium subsidy for plan year 2021 is 60% of the total premiumsubsidy from your pension check. See page 15 for cost (certain limitations may apply). The subsidy is subjectmore information. to change at the discretion of the Board.Paying for Medicare Part APremium cost for dependent coverage is not eligible forAnnuitants enrolled in a CTPF Medicare health insurance the subsidy. plan who must also pay a premium for Medicare Part A must enroll in CTPFs MedPay Program. Under this Subsidy for CTPF Non-Medicareprogram, CTPF makes Medicare Part A, Part B, and Income-Related Monthly Adjustment Amount (IRMAA) Eligible Plans Part B premium payments on your behalf, and deducts If you are enrolled in a CTPF Non-Medicare healthyour share (after the applicable premium subsidy) from insurance plan, your share of the monthly plan cost isyour pension benefit. See page 34 for information. deducted from your pension benefit.Subsidy for Chicago Public/Example: If your monthly premium is $1,000, and theCharter School COBRAapproved subsidy percentage is 60%, CTPF deducts $400 from your monthly pension for the premium cost, andIf you are enrolled in COBRA continuation coverage, pays the remaining $600 on your behalf. CTPF automatically applies the premium subsidy to your pension benefit. The necessary authorization forms must be on file with CTPF. All teachers hired by the Chicago Public/Charter schools on or after April 1, 1986,contribute to Medicare and receive premium-free Medicare Part A benefits after 40 quarters of participation. Members employed prior to April 1, 1986, had the option of making Medicare contributions starting in 2006. Individuals who chose this optionINFO met their contribution requirements (40 quarters) in 2016. CTPF does not subsidize Part A premiums for members with benefit effective dates of July 1, 2016, or later.CTPF 2021 HEALTH INSURANCE HANDBOOKCTPF 2021 HEALTH INSURANCE HANDBOOK15'