HB 240: "An Act relating to eligibility for major medical insurance coverage for beneficiaries of the teachers' retirement system; and providing for an effective date."
00 HOUSE BILL NO. 240 01 "An Act relating to eligibility for major medical insurance coverage for beneficiaries of 02 the teachers' retirement system; and providing for an effective date." 03 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF ALASKA: 04 * Section 1. AS 14.25.168(d) is amended to read: 05 (d) A benefit recipient may elect major medical insurance coverage in 06 accordance with regulations and under the following conditions: 07 (1) a person who has less than 25 years of membership service and 08 who is younger than 60 years of age must pay an amount equal to the full monthly 09 group premium for retiree major medical insurance coverage; 10 (2) [A PERSON WHO IS AT LEAST 60 YEARS OF AGE BUT IS 11 YOUNGER THAN 65 YEARS OF AGE MUST PAY AN AMOUNT EQUAL TO 12 ONE-HALF OF THE FULL MONTHLY GROUP PREMIUM FOR RETIREE 13 MAJOR MEDICAL INSURANCE COVERAGE; 14 (3)] a disabled member, a disabled member who is appointed to
01 normal retirement, [OR] a person 60 [65] years of age or older, or a person who has 02 at least 25 years of membership service is not required to make premium payments. 03 * Sec. 2 This Act takes effect July 1, 2001.