new york state teachers' retirement system

One of the promises of public service is a dignified retirement. It’s why we’re fighting to Fix Tier 6. But the executive budget is going after our retirees in a different way, too.

The executive budget proposes changes to Medicare Part B reimbursement premiums for retirees covered by the New York State Health Insurance Program, which means retirees could end up paying thousands of dollars extra for their health insurance.

This is wrong. The state shouldn’t attempt to balance its budget on the backs of our retirees. And it’s time to tell our legislators we won’t stand for it!

The facts: Retirees who have the NYSHIP are required to enroll in Medicare Part B. But the executive budget proposal eliminates the reimbursement of the Income-Related Monthly Adjustment Amount (IRMAA). 

The bottom line: As Medicare costs go up, fixed-income retirees will have to pay more.

By the numbers: Depending on income levels, this will burden our retirees with between $700 and $4,100 every year. And it will continue to cost them every year moving forward.

Take action: Our retirees deserve a stable, dignified retirement! Oppose NY Budget Plan to Cut Medicare Part B Reimbursements!

A simple fix: The Legislature has removed language like this from budget proposals before. Now it’s time to tell them to do it again.