Skip to main content

Google Translate Fix

  • Home
  • About
    About
    • Meet Treasurer Folwell
    • Press Releases
  • Links
    Links
    • Office of the State Treasurer
      Office of the State Treasurer
      • Media
      • Press Releases
      • About the Treasurer
    • Financial Operations
      Financial Operations
      • About Financial Operations
      • Collateralization of Public Deposits
      • Core Banking
      • Statewide Banking Relationships
      • Banking Forms
    • Investment Management
      Investment Management
      • About Investment Management
      • Ancillary Governmental Participant Investment Program (AGPIP)
      • Cash Management Overview
      • Governance
        Governance
        • Charter
        • Code of Ethics
        • IAC Meeting Calendar
        • Investment Advisory Committee Meetings Archives
      • Governance
      • Innovation Fund
      • Pension Fund Overview
      • Reports
        Reports
        • Audited Financial Statements Archives
        • Investment Performance and Fee Reports
        • Other Reports
        • Quarterly Investment Reports
        • Quarterly Investment Reports Archives
    • NC ABLE
    • Retirement Systems
    • State and Local Government Finance
      State and Local Government Finance
      • LGC
        LGC
        • Financial Analysis Tools and Reports
        • Information for Finance Officers
          Information for Finance Officers
          • COVID-19 Impact Report
          • LGC Reporting Requirements and Due Dates
          • Register of Deeds: Fees to be Remitted to State Treasurer
        • Information for the Public
          Information for the Public
          • Cliffside Sanitary District
          • The Town of Eureka
          • Town of Kingstown
          • Town of Robersonville
        • LGC Agenda Archives
        • Local Debt Management
          Local Debt Management
          • Applying for Debt
          • Continuing Disclosure
          • Debt Reports and Notices
        • Local Fiscal Management
          Local Fiscal Management
          • AFIR
          • Annual Audit
            Annual Audit
            • Annual Audit Reports Submitted to the Local Government Commission
            • Audit Opinion Resources
            • Audit Resources
            • Compliance Supplements and Resources
              Compliance Supplements and Resources
              • 2019 Compliance Supplement Section B - Federal Programs
              • 2019 Compliance Supplement Section C - State Programs
              • 2019 Compliance Supplement Section D - Crosscutting Programs
              • 2019 Section E - Short-Form Supplements
              • 2020 Compliance Supplement Section A - OMB
              • 2020 Compliance Supplement Section B - Federal Programs
              • 2020 Compliance Supplement Section C - State Programs
              • 2020 Compliance Supplement Section D - Crosscutting Programs
              • 2020 Compliance Supplements
              • 2020 Section E - Short-Form Supplements
              • Compliance Supplement Preparation Resources
              • NCDEQ, NCDHHS, and NCDOT Reports
              • Single Audit Reporting
            • Financial Statement Resources
              Financial Statement Resources
              • Boards of Education
              • Charter Schools
              • Counties
              • Municipalities
              • Other Post Employment Benefits Resources
              • Other Units
            • Pension & OPEB
            • Submitting Your Audit
              Submitting Your Audit
              • 2019 Audit Report Resources
          • LGC-203 Semi-Annual Report of Cash and Investments - Resources
          • State Compliance Supplements
        • The Balance Sheet
        • The Local Government Commission
          The Local Government Commission
          • About the Local Government Commission
      • State Debt & DAAC
      • NCCFFA
        NCCFFA
        • NCCFFA Agenda Archives
    • State Health Plan
    • Unclaimed Property
  • Events
  • Facebook
  • Twitter
Home »
Treasurer Folwell Announces Reduced Medicare Advantage Premium Rates; Savings Will Approach $600 Million the Next Three Years

Treasurer Folwell Announces Reduced Medicare Advantage Premium Rates; Savings Will Approach $600 Million the Next Three Years Medicare-Eligible Members Will See Premium-Free Coverage; Eligible Dependents to Have Monthly Premium of Only $4 With no Additional Cost to Taxpayers

Jun 15, 2020
Raleigh

(Raleigh, N.C.) – State Treasurer Dale R. Folwell, CPA, and the State Health Plan (Plan) Board of Trustees today announced premium rates for Medicare Advantage members offering a substantial decrease in cost to dependents of Medicare-eligible members for the 2021 benefit year.

Medicare-eligible members will continue to enjoy premium-free coverage under this plan. Beginning Jan. 1, 2021, eligible dependents will have monthly premiums of only $4 for the Medicare Advantage Base Plan. Today, members in the Medicare Advantage Base Plan pay monthly premiums of $112 for spousal coverage and $224 for family coverage. For the Enhanced Plan, members currently pay a monthly premium of $256 for spousal coverage and $438 for family coverage. These changes come with virtually identical benefits as the previous plan.

In March, the Plan awarded the Medicare Advantage Fully Insured Plan and Related Services contract to Humana. The contract award to Humana was the result of a Request for Proposal, a required, competitive bid process that is a standard practice in state government when a contract has ended and there is continued need for services. The potential annual cost savings under the new contract will be approximately $197 million or almost $600 million over the course of the three-year contract.

“I’m thrilled that our Medicare-eligible members who teach, protect and otherwise serve can now reap the benefits of this new Humana contract with the ability to add their dependents for only $4 a month,” said Treasurer Folwell. “Our Medicare Advantage plans are a great benefit that an entire family can now enjoy for very little cost to members and taxpayers like them, and the same great benefits.”

“Our Plan staff is working hard to ensure that this transition to Humana is a smooth one,” said Dee Jones, State Health Plan executive director. “I also want members to understand that Humana offers a national, passive network that allows members to continue seeing their current providers regardless of being in or out of Humana’s network, which is how our Medicare Advantage plans work today.”

All members currently covered under UnitedHealthcare will be moved to Humana for the 2021 benefit year, which begins Jan. 1, 2021. Members will continue to have the choice of the Base or Enhanced plan under Humana as well as the option of the 70/30 Plan, which is administered by Blue Cross NC. Open Enrollment for 2021 will take place Oct. 15-31, 2020.

The State Health Plan, a division of the Department of State Treasurer, provides health care coverage to more than 727,000 teachers, state employees, retirees, current and former lawmakers, state university and community college personnel, and their dependents. It also provides Medicare-Advantage plans to 155,000 Medicare-eligible members.

Contact Information

Press Line
press@nctreasurer.com
(919) 814-3820
How can we make this page better for you?
Back to top

Divisions

Dale R. Folwell

News

Office of State Treasurer

State and Local Government Finance Division

Investment Management Division

Financial Operations Division

State Health Plan

Retirement Services Division

Unclaimed Property Division

Contact Us

North Carolina Department of State Treasurer
3200 Atlantic Avenue, Raleigh, NC 27604

(919) 814-4000

Follow Us

  • Facebook
  • Twitter
  • YouTube

Recent Tweets

-Scroll for more tweets-

Tweets by @nctreasurer

  • NC.gov Home
  • Accessibility
  • Terms of Use
  • Privacy Policy
  • Open Budget