Good news for public workers in NJ, rates for active state and local government workers and retirees will be going down in 2018.
Optum will replace Express Scripts as the state’s pharmacy benefits manager in January, reducing prescription drug costs by $81 million for state workers and retirees
The details of the rate hikes have different impacts for different groups.
· There are no rate changes for active workers in state or local government, for health insurance or for prescription coverage. Dental coverage will go up by around 3 percent.
· There are no health-care premium changes for early retirees, while their premiums for prescription coverage will drop 18 percent for the state group and 10 percent for the local group.
· It’s a more complex picture for Medicare retirees. Prescription premiums will be down 8 percent to 9 percent. Premiums for state retirees in a preferred provider organization, PPO, will go up 1.6 percent, while they’ll go down 20 percent for those in a health maintenance organization, HMO.
Whether you are a public worker in New Jersey or not, Cosmo Insurance Agency will help you get you the medical coverage you need through one of our carriers. We offer unparalleled service and plans designed specifically to your individual situation.