Horry County Council to vote on county employee retiree health insurance changes [The Sun News, Myrtle Beach, S.C.] - Insurance News | InsuranceNewsNet

InsuranceNewsNet — Your Industry. One Source.™

Sign in
  • Subscribe
  • About
  • Advertise
  • Contact
Home Now reading Newswires
Topics
    • Advisor News
    • Annuity Index
    • Annuity News
    • Companies
    • Earnings
    • Fiduciary
    • From the Field: Expert Insights
    • Health/Employee Benefits
    • Insurance & Financial Fraud
    • INN Magazine
    • Insiders Only
    • Life Insurance News
    • Newswires
    • Property and Casualty
    • Regulation News
    • Sponsored Articles
    • Washington Wire
    • Videos
    • ———
    • About
    • Meet our Editorial Staff
    • Advertise
    • Contact
    • Newsletters
  • Exclusives
  • NewsWires
  • Magazine
  • Newsletters
Sign in or register to be an INNsider.
  • AdvisorNews
  • Annuity News
  • Companies
  • Earnings
  • Fiduciary
  • Health/Employee Benefits
  • Insurance & Financial Fraud
  • INN Exclusives
  • INN Magazine
  • Insurtech
  • Life Insurance News
  • Newswires
  • Property and Casualty
  • Regulation News
  • Sponsored Articles
  • Video
  • Washington Wire
  • Life Insurance
  • Annuities
  • Advisor
  • Health/Benefits
  • Property & Casualty
  • Insurtech
  • About
  • Advertise
  • Contact
  • Editorial Staff

Get Social

  • Facebook
  • X
  • LinkedIn
Newswires
Newswires RSS Get our newsletter
Order Prints
June 15, 2012 Newswires
Share
Share
Post
Email

Horry County Council to vote on county employee retiree health insurance changes [The Sun News, Myrtle Beach, S.C.]

Brad Dickerson, The Sun News, Myrtle Beach, S.C.
By Brad Dickerson, The Sun News, Myrtle Beach, S.C.
McClatchy-Tribune Information Services

June 16--The Horry County Council will consider a resolution at Tuesday's meeting to make changes to the retiree health insurance plan, a measure that would affect the almost 2,000 county employees currently on the payroll.

This recommendation comes from the county administration committee and calls for retiree health insurance coverage through the county to cease after Medicare becomes the retiree's primary insurance, and start funding a monthly contribution to a health reimbursement arrangement account.

That account would allow the retiree to purchase a Medicare supplement plan or use the money for qualifying medical costs. The amount of the monthly contribution would be based on the rates of available Medicare plans.

A monthly contribution of $150 for a retiree qualifying for a 100 percent subsidy would begin in 2013. That amount would be subject to an annual increase of no more than 3 percent per year.

Also, the administration committee recommends grandfathering existing plan provisions, except as amended with the Medicare change, for all employees who are either 62 years old or have 23 years of county service as of Dec. 31. Of the 1,971 active employees, an estimated 271 will be grandfathered.

The other 1,700 non-grandfathered employees would have a minimum retirement age of 62 and the 75 percent of premium paid by the county for 23 to 27 years of service would be taken away.

For employees rehired before June 30, 2011 who had previously worked a minimum of 60 consecutive months as a full-time regular employee, they will be allowed to participate in the retiree health insurance plan.

These recommendations would bring retirement benefits back to newer hires.

In December 2010, the County Council approved a resolution discontinuing Horry County's payments toward retiree health insurance premiums for those employees hired July 1, 2011 and thereafter. The resolution cited current and projected budget constraints as the reason for the change.

In 1994, Horry County began paying for health insurance for retiring employees. Regular retirees with 28 years of service or more get 100 percent of their premium paid by the county. Those with 23 to 27 years get 75 percent of the premium taken care of, while those with 15 to 22 years have half of the premium paid.

Contact BRAD DICKERSON at 626-0301.

___

(c)2012 The Sun News (Myrtle Beach, S.C.)

Visit The Sun News (Myrtle Beach, S.C.) at www.thesunnews.com

Distributed by MCT Information Services

Wordcount:  397

Newer

BRIEF: Hancock CEO Jim Boyle set to retire in September [Boston Herald]

Advisor News

  • Nearly half of nonretirees doubt they will fully retire
  • How much could failure to fund Social Security cost average Americans?
  • How can more Americans achieve financial independence?
  • Savers vs. spenders: How money management attitudes impact financial confidence
  • Demonstrating the value of life insurance to Gen Z
More Advisor News

Annuity News

  • Jackson CEO Laura Prieskorn to retire at the end of 2026
  • Has your annuity been reinsured in the Cayman Islands? Here’s why it matters
  • DOL slams pension risk transfer lawsuit as ‘opportunistic’ litigation
  • AM Best Affirms Credit Ratings of New York Life Insurance Company and Its Subsidiaries
  • Advisors don’t have an annuity problem; they have an integration problem.
More Annuity News

Health/Employee Benefits News

  • ICYMI – CANDIDATE COOPER NOW TRYING TO BLAME HIS HEALTH INSURANCE PALS FOR GOVERNOR COOPER'S 57% INCREASE IN HEALTHCARE COSTS IN NC
  • Business People: Edric Funk to take over as Toro Co. CEO
  • Insurers propose premium increases for ACA customers in Iowa
  • How Does New CareScout Long-Term Care Insurance Policy Compare In Cost
  • They harvest the nation’s food, but a new rule may strip them of health insurance
More Health/Employee Benefits News

Life Insurance News

  • AM Best Comments on Credit Ratings of Horace Mann Educators Corporation and Its Subsidiaries Following Announced Transaction with Medical Mutual of Ohio
  • AM Best Affirms Credit Ratings of Hanwha General Insurance Company Limited
  • Globe Life boosts Q2 earnings, eyes AI shift for long-term growth
  • ATTORNEY GENERAL BRENNA BIRD LEADS FIGHT TO PROTECT IOWA PENSIONS
  • AM Best Affirms Credit Ratings of Bao Viet Insurance Corporation
More Life Insurance News

NEWS INSIDE

  • Companies
  • Earnings
  • Economic News
  • INN Magazine
  • Insurtech News
  • Newswires Feed
  • Regulation News
  • Washington Wire
  • Videos

FEATURED OFFERS

Press Releases

  • Prosperity Life GroupSM Launches Prosperity PathWaySM Series, Bringing Greater Choice and Flexibility to Retirement Income Planning
  • Senior Market Sales® Fortifies Annuity Reach With Acquisition of Retirement Planning Firm Stratton & Company
  • RFP #T01625
More Press Releases > Add Your Press Release >

How to Write For InsuranceNewsNet

Find out how you can submit content for publishing on our website.
View Guidelines

Topics

  • Advisor News
  • Annuity Index
  • Annuity News
  • Companies
  • Earnings
  • Fiduciary
  • From the Field: Expert Insights
  • Health/Employee Benefits
  • Insurance & Financial Fraud
  • INN Magazine
  • Insiders Only
  • Life Insurance News
  • Newswires
  • Property and Casualty
  • Regulation News
  • Sponsored Articles
  • Washington Wire
  • Videos
  • ———
  • About
  • Meet our Editorial Staff
  • Advertise
  • Contact
  • Newsletters

Top Sections

  • AdvisorNews
  • Annuity News
  • Health/Employee Benefits News
  • InsuranceNewsNet Magazine
  • Life Insurance News
  • Property and Casualty News
  • Washington Wire

Our Company

  • About
  • Advertise
  • Contact
  • Meet our Editorial Staff
  • Magazine Subscription
  • Write for INN

Sign up for our FREE e-Newsletter!

Get breaking news, exclusive stories, and money- making insights straight into your inbox.

select Newsletter Options
Facebook Linkedin Twitter
© 2026 InsuranceNewsNet.com, Inc. All rights reserved.
  • Terms & Conditions
  • Privacy Policy
  • InsuranceNewsNet Magazine

Sign in with your Insider Pro Account

Not registered? Become an Insider Pro.
Insurance News | InsuranceNewsNet