If you retire at age 55 or older, with 15 years of MPS service, and with 812 hours of sick leve (101.5 full days), the School Board will pay up to the amount of the Aetna premium in effect at the time you retire - for as long as you (and/or your spouse) live. You must pay for premium increases above the amount the Board pays.
(If you retire at age 55 or older, with 15 years of MPS service, but do not have the sick leave accumulated to quality for Board-paid coverage, you may maintain coverage on a self pay basis.)
Most teachers retire at the end of the school year, and qualify for Board payment of the premium in effect on July 1 of the year they retire. As a result these retirees who qualify for "Board-paid" health insurance do not pay any premium during their first year of retirement.
When the premium increases on July 1 (one year after they retire), these retirees pay the increase in premium. As premiums increase each year, retirees continue to pay the increased amounts - whatever is above the premium in effect at the time they retired.
When the retiree (and spouse) reach age 65 and enroll in Medicare, it becomes their primary insurance. As a result the premium for insurance coverage (Aetna or UnitedHealthcare) - which becomes the secondary coverage - is significantly reduced.