The New Mexico Retiree Health Care Authority Board of Directors ruling on proposed rules changes regarding the implementation of a minimum age requirement and an increase in creditable years of service to receive the maximum subsidy.
The New Mexico Retiree Health Care Authority Board of Directors on Tuesday, November 13, voted to adopt the proposed rule changes to establish a minimum age requirement of 55 for employees of participating NMRHCA employer groups to receive a subsidy for health insurance and to extend the years of service to receive the maximum subsidy from 20 to 25 years. This does not affect any other retirement benefit.
The board voted to delay the implementation of the proposed rules by one year to January 1, 2021, rather than January 1, 2020, as originally proposed. Any employee who retires before January 1, 2021 will be grandfathered in to the current NMRHCA rules that doesn’t require a minimum age and gives the maximum subsidy to retirees with 20 years of service.
Employees retiring on or after January 1, 2021 must adhere to the rule changes.
If you have any question, please contact Greg Archuleta at the NMRHCA at 505-222-6403 or email@example.com.