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GIC explains Medicare rules for retirees, buyout payment and COBRA path to retiree dental
Summary
GIC staff walked through member rules for turning 65 or retiring, including the commission’s practice of sending letters three months before a 65th birthday, state-law requirements to enroll in Medicare Parts A and B for retirees (or risk GIC cancellation), details on the buyout payment, and COBRA-to-retiree dental enrollment options.
GIC staff used the information session’s Q&A to walk members through frequent retirement and Medicare questions: when members should enroll in Medicare, what happens to spouses and dependents, details about the buyout payment, and how dental and vision coverage transitions work after retirement.
Paul Murphy, director of operations, said the GIC will send instruction letters three months before a member or covered spouse turns 65 explaining Medicare options. Murphy said state law requires anyone who is retired and covered by GIC to apply for Medicare Parts A and B at retirement or three months before their 65th birthday if they want to continue GIC coverage; if…
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