During a recent meeting, the Teachers' Retirement System (TRS) Board of Trustees in Illinois provided crucial updates regarding health insurance premiums for retirees, particularly focusing on changes that will take effect from July 1, 2025, to June 30, 2026. This information is vital for members planning their healthcare options as they approach retirement.

The presentation highlighted the different premium rates based on the type of health plan chosen. For members aged 26 to 64 who are not yet Medicare eligible, the monthly premium for a managed care plan, such as an HMO or OAP, is set at $370.76. In contrast, those opting for a PPO plan will face a significantly higher premium of $857.02 per month. These figures reflect the costs that will be deducted from members' pensions.

The TRS emphasized that understanding these premiums is essential for members as they navigate their healthcare choices during retirement. The board aims to ensure that retirees are well-informed about their options and the financial implications of their health insurance decisions.

As the meeting concluded, the TRS Board underscored the importance of staying updated on these changes, encouraging members to review their health plan options carefully as they approach the age of 65 and become eligible for Medicare. This proactive approach will help retirees make informed decisions that best suit their healthcare needs and financial situations.