May Board News

Board Approves Health Care Premiums for 2019; More Than 90% of Enrollees Will See No Premium Increase

During the May meeting of the State Teachers Retirement Board, the board approved 2019 premiums for all plans offered through the STRS Ohio Health Care Program. A complete list of these premiums is posted on the system’s website or can be obtained by calling STRS Ohio’s Member Services Center toll-free at 888‑227‑7877. About 92% of plan enrollees will have 2019 health care premiums equal to their 2018 premiums. STRS Ohio staff works with health care consultants and actuaries to develop expected costs for the health care plans. Lower than anticipated health care claims during the review period for STRS Ohio’s self-insured plans had a positive impact on the 2019 premiums. Approved dental and vision plan premiums for 2019 are essentially unchanged.

Additional information about the 2019 health care program will be provided in upcoming newsletters and on the STRS Ohio website. In late October, all plan enrollees will receive personalized health care plan information in preparation for the fall open-enrollment period that extends from Nov. 1–20. Below is a sample of monthly premiums for calendar year 2019 for a benefit recipient with 30 or more years of service.

Benefit Recipients With Medicare (30 or more years of service)
Plan Total Cost STRS Ohio Pays Benefit Recipient Pays
Aetna Medicare Plan (Medicare Advantage PPO) – available in any location in the United States $342 $215 $127
Medical Mutual Basic Plan (Indemnity or PPO) – available in any location $300 $189 $111
AultCare PPO – available in select northeastern Ohio area ZIP codes $473 $215 $258
Paramount Elite HMO (Medicare Advantage) – available in select northwestern Ohio and southern Michigan area ZIP codes $359 $215 $144
Benefit Recipients Without Medicare (30 or more years of service)
Plan Total Cost STRS Ohio Pays Benefit Recipient Pays

Medical Mutual Basic Plan (Indemnity or PPO) – available in any location in Ohio

Aetna Basic – available outside of Ohio

$957 $558 $399
AultCare (PPO) – available in select northeastern Ohio area ZIP codes $890 $519 $371
Paramount Health Care (HMO) – available in select northwestern Ohio and southern Michigan area ZIP codes $946 $552 $394

Board Extends Medicare Part B Reimbursement for One Year; Continues Discussion on Health Care Fund

In other board action, the Retirement Board voted to extend the current Medicare Part B Partial Reimbursement Program for one year. Under this program, benefit recipients currently enrolled in the STRS Ohio Health Care Program and Medicare Part B receive $29.90 per month to reimburse a portion of the Medicare Part B premium. About 85,000 benefit recipients receive this reimbursement that was set to be reduced to $0 beginning Jan. 1, 2019. The board’s action at the May meeting extends the $29.90 per month reimbursement through the 2019 calendar year.

The board also agreed to a proposed timeline for additional discussions regarding the improved financial condition of the Health Care Fund. In June, the board will review several potential components of a health care funding management policy.

McFee, Rhodes Win Contributing Member Seats on the Retirement Board; Gruber Appointed to Investment Expert Seat; Myers Recognized for Board Service

Contributing teacher members Robert A. McFee and Jeffrey Rhodes were elected to the State Teachers Retirement Board in the 2018 election that concluded on May 7. McFee is a mathematics teacher for Willoughby Eastlake City Schools and Rhodes is a technology education teacher for North Royalton City Schools. The term for these seats begins Sept. 1, 2018, and ends on Aug. 31, 2022.

In April, the Speaker Pro Tempore of the Ohio House of Representatives and the President of the Ohio Senate jointly appointed David Gruber to an investment expert seat on the Retirement Board. Gruber is the director of Risk Advisory Services for Holbrook & Manter, CPAs. The term for this seat runs through Nov. 4, 2020.

The Retirement Board recognized Tim Myers, who is retiring and will be leaving the board. Myers has served as a contributing member on the board since 2008. The board thanked him for his service and commitment to the STRS Ohio membership.

Board members receive no compensation for service on the board other than reimbursement for actual, necessary expenses.

Retirements Approved

The Retirement Board approved 37 active members and 60 inactive members for service retirement benefits.

Other STRS Ohio News

STRS Ohio earns GFOA Certificate of Achievement for Comprehensive Annual Financial Report

The Government Finance Officers Association (GFOA) awarded STRS Ohio its Certificate of Achievement for Excellence in Financial Reporting for the system’s Comprehensive Annual Financial Report (CAFR) for the fiscal year ended June 30, 2017. STRS Ohio has received the GFOA award each year since 1990. Staff consolidates financial, investment, actuarial and statistical information into one publication that meets the standards established by the GFOA to receive this recognition. You can access STRS Ohio’s CAFR in the publications section of the retirement system’s website.