Bill > SB847

This bill modifies health insurance subsidies for retired Public Employees Retirement System (PERS) members by increasing the monthly health insurance coverage subsidy from $60 to $100 for eligible retired members. Specifically, the bill expands the subsidy to cover members of the Oregon Public Service Retirement Plan, who were previously not included. An eligible retired member is defined as a retired PERS member who is receiving a retirement allowance, has at least eight years of qualifying service, and is eligible for Medicare. The subsidy will be paid from the Retirement Health Insurance Account, which is funded by employer contributions, and can cover up to $100 or the total monthly cost of health insurance coverage (whichever is less). The bill also ensures that this subsidy remains tax-exempt for the eligible retired member and allows members of the Oregon Public Service Retirement Plan to access the same health insurance premium subsidy previously available only to traditional PERS members. These changes aim to provide more comprehensive health insurance support for retired public employees.

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https://olis.oregonlegislature.gov/liz/2025R1/Measures/Overview/SB847