Скачать или смотреть GIC Healthcare Cost Report & Event Reminder

Weekly Update: May 23, 2025: This week our focus is on the Group Insurance Commission’s 2024 Out-of-Pocket Cost Report, as well as reminders for today’s Mass Retirees members-only Tele-Town Hall Meeting focused on the Commonwealth’s Pension Reserves Investment Management (PRIM) Board.

Today’s meeting kicks-off at 1:00 PM EST and will feature PRIM Executive Director and Chief Investment Officer Michael Trotsky. Members can participate by answering the automated phone call today at 1:00 PM or by calling the toll-free Tele-Town Hall number printed on your Mass Retirees membership card.

Save The Date: We will hold our annual Cape Cod Area Meeting on Wednesday, June 4th. Please look to the April edition of The Voice or today’s Weekly Email for full details.

Last week, the state’s GIC released the 2024 Out-of-Pocket Cost Report. We have since reviewed the highly detailed report and have determined that it contains largely good news for public retirees and employees insured under the state insurance plan.

While health care costs have continued to rise at an alarming and unsustainable rate, the copayment and deductible burden placed on enrollees by the GIC has not changed in seven years. As the report demonstrates, overall out-of-pocket costs per enrolled member remained relatively flat, if not decreased in 2024.

Despite escalating healthcare costs, the GIC’s commitment to affordability for members continues to deliver results. In FY24, member out-of-pocket (OOP) costs remained stable—even decreased in some areas—while GIC absorbed a significant share of the cost increases driven by medical inflation and rising pharmacy expenses.
However, as Mass Retirees continues to state, we remain very concerned over health care affordability and believe there to be an affordability crisis that must be addressed. While we applaud the GIC and most municipal governments for not cost shifting onto retirees, it is only a matter of time until increasing costs and tightening budgets force the hand of policymakers. Steps must be taken to gain control over rising costs, while protecting the quality of health insurance benefits, before a true crisis arrives.
Mass Retirees members should look to our weekly email News Update for further information related to retiree health insurance – specifically, a report on out-of-pocket costs paid by GIC enrollees in FY24. Our weekly email is sent to all members at 6:00 AM each Friday.

Founded in 1968, Mass Retirees is a statewide nonprofit membership Association advocating on behalf of ALL retired Massachusetts public employees and surviving spouses. If you are a retired Massachusetts public employee, but not currently a member, you can join today at https://massretirees.com/new-members-...

We also offer an Associate Membership option to allow active public employees nearing retirement age to subscribe to our Weekly Update, newsletter, and other informational resources that will keep you well informed and help you better prepare for your future retirement. Subscribe today at https://massretirees.com/subscribe/