b"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 and Contract Schools may qualifyPart D coverage. Members with a pension benefit effective for a partial subsidy of their insurance premiums.date prior to July 1, 2016, also receive a subsidy for A member receiving a survivor's pension may also Medicare Part A (for members who must pay a premium). qualify 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 2023 is 60% of the total premiumsubsidy from your pension check. cost (certain limitations may apply). The subsidy is subject 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 27 for information. deducted from your pension benefit.Subsidy for Chicago Public, Charter Example: If your monthly premium is $1,000, and theand Contract Schools 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. Notify CTPF immediately if you terminate COBRA coverage to ensure CTPF ceases the premium subsidy. Any premium subsidy paid after termination of COBRA will need to be repaid to CTPF. All teachers hired by the Chicago Public, Charter and Contract 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 INFO making Medicare contributions starting in 2006. Members who chose this optionmet 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.12 CTPF 2023 HEALTH INSURANCE HANDBOOKCTPF 2023 HEALTH INSURANCE HANDBOOK"