GIC releases new insurance rates
The Group Insurance Commission has released the new rates for basic life insurance and health insurance for state employees, effective July 1.
The rates reflect the higher share of insurance paid by public employees that were incorporated into the fiscal 2010 state budget.
State employees who were hired on or before June 30, 2003, will pay 20 percent of the cost of basic life and health insurance coverage. Previously, they paid 15 percent.
Employees hired after June 30, 2003 will now contribute 25 percent of the premium for their insurance coverage.
The new costs are effective with the pay period ending July 4 and will be reflected in paychecks issued July 10, according to Human Resources.
The legislation also stipulates that upon retirement, currently active employees will begin to contribute 15 percent of basic life and health insurance premiums.
More Information
View new rates
July 3, 2009.
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