Health Insurance Buy-Out Program: 10/2 - 10/30

Our health insurance is offered by another state agency, the Group Insurance Commission (GIC). Twice a year, the GIC offers this buy-out program for employees who are already enrolled in GIC health insurance.

You can learn more directly here: Health Insurance Buy-Out Program | Mass.gov

What is the Buy-Out Program?

Under the Buy-Out plan, eligible state employees and state retirees receive 25% of the full-cost monthly premium in lieu of health insurance benefits for one 12-month period of time. Employees in HR/CMS and UMASS agencies will receive the remittance monthly in their paychecks. The amount of payment depends on your health plan and coverage.

Eligibility

To qualify for the health insurance buy-out program, you must meet all of the following requirements: 

• You are a state employee or retiree;
• You must be enrolled in a GIC health plan and meet the minimum enrolled coverage period requirement determined by the enrollment period you participate in specified under Enrollment below.
• All GIC premiums must be up to date through the end of the enrollment eligibility period (For enrollment during Annual Enrollment: June 30th or during Fall Buy-Out: December 31st).
• If your coverage is terminated for non-payment of premium, you will no longer be eligible for the Buy-Out program; and,
• You must continue to maintain basic life insurance.

Enrollment

There are two buy-out periods. Applications are only accepted during the two buy-out periods specified below. Your reimbursement will be determined based on the GIC benefits you are enrolled in at the end of the covered period.

• Annual Enrollment: If you were insured with the GIC on January 1st of this year or before, and continue your coverage through June 30th of this year, you may apply to buy out your health plan coverage effective July 1st of this year.
• Fall Buy-Out (October 2-30 2024): If you are insured with the GIC on July 1st of this year or before, and continue your coverage through December 31st of this year, you may apply to buy out your health plan coverage effective January 1st of next year.

Click here for the List of Rates