For Retired Members:
LACERS is providing the following information about next year’s health benefits.
LACERS Open Enrollment Period Has Ended for 2024
Nov. 16 marked the end of this year’s Open Enrollment period. Changes made during this period will become effective on Jan. 1, 2024. Unless you have a qualifying event, the next opportunity to change your LACERS health plan will be next year during the Open Enrollment period for 2025.
Medicare Part B Premium Will Increase for 2024
For 2024, the basic monthly Medicare Part B premium amount will be $174.70 per month, an increase from $164.90 in 2023. This amount does not include Income-Related Monthly Adjustment Amounts (IRMAAs) or late enrollment penalties.
As a reminder, all Retired members and their dependents who are eligible for Medicare and enrolled in a LACERS plan are required to enroll in Medicare Part B. Retired members enrolled in Medicare Parts A & B with at least 10 years of service who are enrolled in a LACERS senior medical plan or participate in the Medical Premium Reimbursement Program (MPRP) are eligible for a reimbursement of their basic Medicare Part B premium.
If you are a Retiree whose Medicare Part B premium is deducted from your Social Security Benefit check, and the amount is less than $174.70 per month, you must submit proof of the amount to LACERS so that your reimbursement amount can be adjusted. An audit regarding Part B reimbursements will be conducted in 2024.
Income-Related Monthly Adjustment Amount (IRMAA)
Some members may have to pay an additional premium (IRMAA) amount for their Medicare Parts B and D. Whether or not you pay an IRMAA is determined by the Social Security Administration based on your tax return income and filing status from two years prior. For example, if in 2022 you filed “single” and made more than $103,000 modified adjusted gross income (MAGI) or filed “married filing jointly” and made more than $206,000 MAGI, you would be billed for an IRMAA. Before you are billed for an IRMAA, Social Security will typically send a notice, and you will have the opportunity to appeal. This adjustment amount must be paid in full as part of your eligibility for a medical subsidy and is not reimbursed by LACERS.
Make Your Voice Heard on IRMAA & Medicare Part B
The LACERS Board of Administration submitted a request to City Council recommending options for extending the Medicare Part B Basic Premium Reimbursement to LACERS Retirees who were hired by the City of Los Angeles prior to April 1, 1986, and currently do not receive the LACERS Medicare Part B Reimbursement, as well as adjusting the Medicare Part B Reimbursement to LACERS retirees whose Medicare Part B premium exceed the basic premium as a result of the IRMAA.
The City Council has assigned this request as Council File # 23-1131, and it is now open for public comment. To make your voice heard, please submit your comments using the Office of the City Clerk’s Public Comment Form online at cityclerk.lacity.org/publiccomment.