If you retire with at least 15 years of creditable service, you may be eligible for the health insurance credit. This is a tax-free benefit that assists with health insurance premiums you pay for single coverage under qualifying health plans, excluding any portion of the premiums covering a spouse or dependents. Eligible employees include:
- State employees
- Teachers and school administrators
- General registrars, their employees, and local social service employees
- Constitutional officers and their employees
- Non-teacher school division employees
- Employees of political subdivisions that have elected to provide the health insurance credit
The health insurance credit is applied to your monthly benefit payment under the defined benefit component of your plan. If you do not receive a monthly benefit, VRS will reimburse you for the amount. The credit ends upon your death.
| Health Insurance Credit Dollar Amounts |
|
State employees, including participants in an optional or alternate retirement plan
|
$4.25
|
$120 or $4.25 per year of service, whichever is greater
|
No Maximum
|
|
Teachers
|
$4.00
|
$4 x the smaller of (a) twice the amount of service credit or (b) the amount of service that would have been earned had the member remained an active employee Until age 60.
|
No Maximum
|
|
General registrars, their employees and local social service employees
|
$1.50
|
$45.00
|
$45.00
|
|
General registrars, their employees and local social service employees if political subdivision elects $1.00 enhancement
|
$2.50
|
$75.00
|
$75.00
|
|
Constitutional officers and their employees
|
$1.75
|
$52.50
|
$52.50
|
|
Constitutional officers and their employees if political subdivision elects $1.00 enhancement
|
$2.75
|
$82.50
|
$82.50
|
|
Non-teacher school division employees
|
$1.50
|
$1.50 x the smaller of (a) twice the amount of service credit or (b) the amount of service that would have been earned had the member remained an active employee until age 60
|
No Maximum
|
|
Non-teacher school division employees, if the school division has elected the $1.00 enhancement
|
$2.50
|
$2.50 x the smaller of (a) twice the amount of service credit or (b) the amount of service that would have been earned had the member remained an active employee until age 60
|
No Maximum
|
|
Other political subdivision employees as elected by the employer
|
$1.50
|
$45.00
|
$45.00
|
VRS
