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In this issue:

• From Anthony's Desk
• Retiree healthcare coverage differs from employee coverage
• ORS receives national honor for America Saves efforts
• New topics added to video series

From Anthony's Desk

Welcome to your fall 2024 issue of the Proactive newsletter. 

We talk a lot about retirement readiness at the Michigan Office of Retirement Services (ORS). That’s because we want you to be successful today and in retirement tomorrow.  

Our purpose as your trusted partner is to empower you. That’s why we provide information, tools, and services when needed as you navigate your retirement journey. That’s why we strive to serve you in different ways and provide you with more improved experiences. 

Your interactions with us matter and are why we continue working to improve those. Here’s three ways we’re enhancing your engagement experiences with us: 

• Our ORS YouTube channel offerings are now color-coded to more easily find what you care about or need. These include Ask Our Experts, 1½- to 2½-minute segments on varied topics tailored to your career stage and retirement plan; and Retirement 101, a new series launched in July that explains terms and approaches. 
• We have partnered with eMichigan on user studies to further improve our 10 websites and make them more accessible for you. Those improvements will be rolling out during the next few months. 

• Our How do I … ? email outreach campaign seeks to deepen your understanding of your retirement plan and retiree healthcare benefits. Launched in August, the effort runs through January 2025.  

We are here to help you balance current needs with future hopes because we know saving for retirement isn’t easy. We want you to reach your goals and achieve a life in retirement that’s safe and secure.  

Our commitment: We have your back every step of the way along your retirement journey. 

Anthony Estell, executive director
Michigan Office of Retirement Services 

Retiree healthcare coverage differs from employee coverage

New retirees are sometimes surprised to learn their retiree healthcare coverage differs from the coverage they had while employed. The Employee Benefits Division of the Michigan Civil Service Commission negotiates the carriers, coverage, and rates for retirees just as it does for active employees. When you retire, you enroll in insurance coverage through the Michigan Office of Retirement Services.   

• Medicare. If you were enrolled in active employee insurance when you turned 65, you might not have enrolled in Medicare Part B. Under the retiree insurance plan, as soon as you, or anyone else covered by your health insurance, become eligible for Medicare, that person must enroll in both Part A (hospital) and Part B (medical). You must have Medicare parts A and B to enroll in the retiree insurance and prescription drug programs.  

• Plans and Rates. In addition to the State Health Plan PPO administered by Blue Cross Blue Shield of Michigan, some of the HMOs that offer plans for active employees also offer coverage for retirees. The best way to find out which providers are available, compare coverage, and check premium rates is by going to the Retiree Information section of the Employee Benefits website. 

• Changing plans. While you're actively employed, you can only change your insurance enrollments during the benefits open enrollment period. As a retiree, if you are currently enrolled in any health insurance plan with the retirement system, you can change your enrollment to another plan regardless of your Medicare status.  

In November, if you are enrolled in the retiree insurance, you’ll receive the Retiree Benefits Bulletin from Employee Benefits about any changes expected in the next year’s plan. If you are enrolled in Medicare and the retiree insurance, you’ll receive emails or letters from your carriers about changes to their plans. 

ORS receives national honor for America Saves efforts

The Michigan Office of Retirement Services (ORS) has been named a Savings Champion Award winner by America Saves. 

ORS was celebrated for effectively and actively promoting savings strategies during America Saves Week, which ran April 8-12 during Financial Literacy Month. ORS was among 18 organizations honored out of more than 4,600 participants. 

“In a defined contribution world, you generate retirement income through savings,” ORS Executive Director Anthony Estell said. “And the responsibility for saving falls to our participants. We want to help our participants balance today’s needs with their future goals, so that they can save as much as they can, when they can.”   

For America Saves Week, ORS urged saving for what matters most and highlighted savings strategies that help with retirement savings. Examples include paying down debt (which is a form of saving) and saving automatically, for the unexpected, for major milestones, and at any age.  

During America Saves Week, ORS and the other participating organizations — including the Michigan Education Trust and the Michigan Department of Insurance and Financial Services — helped encourage an estimated $354 million worth of deposits into new and existing accounts. Additionally, 231,000 new accounts were opened and 64,000 increased their automatic saving transfers or deposits into existing savings accounts. 

America Saves Week is part of America Saves, a campaign managed by the nonprofit Consumer Federation of America.

New topics added to video series

In the year since we debuted our first Ask Our Experts video on the ORS YouTube channel, we have covered more than a dozen topics our members and retirees regularly ask about.  

Each video is approximately two minutes long, making them a quick and easy way to learn about different facets of our retirement systems.

In this month’s featured video, Bob from our Customer Service team talks about economic downturns and your pension.

Some of our previous topics include: 

• Snowbird Advice. 
• Clarifying Medicare Benefits. 
• Accessing Your 1099-R Form. 
• State Tax Changes for State Police. 
• Avoiding Phishing and Spam Emails. 
• Saving Early Means More Money. 
• Insurance Eligibility for Children. 
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