The Health Insurance Subsidy (HIS) is a monthly supplemental payment that helps to offset the cost of the member’s health insurance premiums. Eligible retirees or beneficiaries will receive a monthly HIS benefit equal to $5 per month for each year of FRS Pension Plan and/or Investment Plan service credit earned at retirement. The minimum HIS benefit is $30, not to exceed a maximum of $150 per month. This is an extra benefit; it does not come from the member’s Investment Plan account balance, nor is it a guaranteed benefit.
Eligibility
To be eligible to receive the HIS, the employee must:
- Meet the age or service requirements to qualify for normal retirement under the Pension Plan.
- Have taken a distribution from the Investment Plan OR be an Investment Plan Hybrid Option member who has begun receiving their Pension Plan benefit.
- Terminated all employment with all FRS-participating employers as described in Section 121.021(39), F.S.
- Satisfy the vesting requirements for the Pension Plan or be eligible for an FRS disability benefit.
- Provide proper documentation certifying that they have health insurance coverage (Cover Florida Health Care Access Program, Medicare, and TRICARE are accepted).
- Apply for the HIS by using the required FRS forms. You must apply to receive the HIS.
Eligible Beneficiary
Only the surviving spouse named as the member’s beneficiary is eligible to receive the HIS in the event of the member’s death. Named beneficiaries other than the spouse are not eligible for the HIS. For more information and assistance with your FRS DROP HIS Benefit form, call : Fraser Allport, your Florida DROP Specialist at 386.882.6256. M-F, 1-8 pm, EST.
- Fraser can help you with the very first steps that you must take to exit your DROP.
- Fraser can help you meet the dates and deadlines for filing your DROP Exit forms.
- Fraser can help you determine what forms are needed, and help you complete them.
- Fraser can help you with independent choices for wisely investing your DROP Rollover money.
- Fraser can help you optimize your un-used Sick Days and Vacation Days in your DROP.
- Fraser can help you maximize your Social Security benefits for you and also for your Spouse.
- Fraser can help you with your Health Insurance, Medicare, and Long Term Care choices.
- Fraser can help you coordinate your Retirement Plans with your Spouse’s Retirement Plans.
- Fraser can help you reduce your Income Taxes in Retirement. This can save you a lot over time.
- Fraser can help you with your Estate and Legacy Planning. Fraser is a Certified Estate Planner™.
- Fraser can help you Get Your House In Order with Wills, Trusts, Powers of Attorney, Living Will, etc.
- Fraser can help you with a Home Health Care Plan, customized for you. Act now, while your health still qualifies.
All of Fraser’s prior DROP articles are archived at :
https://specialist.fraserallport.com/the-drop-library/
https://medicare.fraserallport.com/medicare-library/
Fraser is a Certified Estate Planner™
See Fraser's Estate Planning services at :
https://nicep.org/profile/fraser-allport-id-908
Fraser's Biography, Services, and Credentials are at :
https://www.youtube.com/channel/UCJIvncPq8Up5ptDiEUT3bJA
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Client references are available for you to speak with upon request.
With 40 Years of Knowledge in Financial Services,
Fraser Allport can help you with all your DROP, Medicare,
and Social Security Questions.
It is Too Late in Your Life to make Money Mistakes !
Be A Good Steward of Your Money.
Call Fraser, a Financial Professional with 40 Years of Experience.
You call a Professional for every other project in Your Life, right ?
Please see Fraser’s invitation for a Complimentary Consultation to help you start your Exit Plan to Retirement.
Starting any Project is the hard part, but Fraser can help shepherd you with a Plan of Action.
Fraser Allport is a Fiduciary, an Investment Advisor,
and a Certified Estate Planner ™ with 40 years of experience.
Fraser is an Independent, and the Owner.
Call Fraser Allport, your Florida DROP Specialist, at 386.882.6256 for your Complimentary Consultation
about your DROP, Social Security, Medicare, Income Tax, Retirement and Estate Planning questions.
Knowledgeable in every aspect of Financial Services, Fraser is the Total Advisor ™.
An Experienced and Independent Fiduciary for all your financial needs.
Call Fraser for answers at 386.882.6256.
It’s a Complimentary Consultation.
Please see all of Fraser’s DROP articles in his extensive DROP Library at.
www.fraserallport.com
Fraser can help you with an ACTION PLAN
below for Retirement :
- Fraser can help you with the very first steps that you must take to exit your DROP.
- Fraser can help you meet the dates and deadlines for filing your DROP Exit forms.
- Fraser can help you determine what forms are needed, and help you complete them.
- Fraser can help you with choices for wisely investing your DROP Rollover money.
- Fraser can help you optimize your un-used DROP Sick Days and Vacation Days.
- Fraser can help you maximize your Social Security benefits for you and also for your Spouse. Note: Social Security decisions are irrevocable after 12 months.
- Fraser can help you with your Health Insurance, Medicare, Medicare Supplements Home and Long Term Care choices. Most Long-Term Care occurs in your Home.
- Fraser can help you coordinate your Retirement Plans with your Spouse’s Retirement Plans. You and your Spouse want to be in synch about Retirement.
- Fraser can help you reduce your Income Taxes in Retirement. This may save you a lot of money over the rest of your Life. Don’t over-pay your Income Taxes. What a waste of Money.
- Fraser can help you with your Estate and Legacy Planning. Fraser is a Certified Estate Planner™. Leave A Legacy, not A Mess. This is a moral as well as a Financial responsibility.
- Fraser can help you Get Your House In Order with Wills, Trusts, Powers of Attorney, A Living Will, Health Care Directives, Final Expenses, etc.
- Fraser can help you with a Home Health Care Plan, customized for you. Act now, while your health still qualifies. Home Health Care is the future of Long Term Care.
Your DROP Plan is your Retirement Nest Egg.
Safeguard it by getting Smart with your Money.
Remember the two Golden Rules of Investing:
1) Don’t Go It Alone. Seek out Professional help.
2) It’s Never Too Early to Plan for Retirement.
These are Big Decisions for You ... with really Big Consequences.
As You Retire, You are about to make some of the most important
financial decisions of Your entire Life :
Social Security
Medicare
Estate Planning
What to do with Your DROP Lump Sum
Be Smart with Your Money, because it’s Your Nest Egg.
Your Retirement is at stake here. These are Lifetime decisions.
Prepare for Retirement ...
and prepare for Longevity.
Because of his Knowledge and Experience for 40 Years ...
Fraser Allport is ... " The Total Advisor™ "
