The 2021 NYSHIP Option Transfer Period runs through Thursday, December 31, 2020.
During this period, employees enrolled in the New York State Health Insurance Program (NYSHIP) may change their NYSHIP coverage status and/or NYSHIP plan option for the 2021 plan year, change participation status in the Pre-Tax Contribution Program (without a qualifying event), and enroll in Young Adult Option (YAO) coverage for children up to age 30 who no longer qualify for dependent-status NYSHIP coverage. Please see the links below for NYSHIP information, plan options, and employee share premium rates for 2021:
The Opt-out Program allows eligible employees who have other employer-sponsored group health insurance, to opt out of their NYSHIP coverage in exchange for an annual incentive payment of $1,000 for waiving individual coverage, or $3,000 for waiving family coverage. For eligibility and additional program information, see the 2021 NYSHIP Choices booklet. To enroll in the Opt-out Program, complete and submit the following forms to your campus HR/Benefits office by Thursday, December 31, 2020:
The Pre-Tax Contribution Program (PTCP) allows enrollees to have their health insurance premium deducted from wages before taxes are withheld, which may lower their taxes. Enrollment also restricts changes that can be made to the NYSHIP coverage (e.g., cancelling or switching to individual coverage) to situations in which a qualifying event takes place. Not enrolling in PTCP offers no tax benefit, but allows greater flexibility to make changes to NYSHIP coverage through the plan year. For additional information, see the 2021 NYSHIP Choices booklet.
Option Transfer and PTCP changes can be requested either online or via a completed NYS Health Insurance Transaction Form (PS-404) submitted to your campus HR/Benefits office, no later than Thursday, December 31, 2020.
For further information and/or assistance, please contact the Benefits Office at your State-Operated or Community College campus.
Please note that this information has been prepared as a general summary of the benefits available to SUNY employees. It cannot provide you with the complete details on all benefits related matters. You should carefully review and research the options available to you before making any enrollment decisions. Only authorized representatives from each plan administrator or benefit plan provider are adequately knowledgeable and experienced to fully address your questions or to assist you with many of the technical aspects of their respective programs. The information contained in all SUNY publications and web sites is intended only as a basic summary overview and to provide you with basic points for your consideration. You are invited to contact representatives from the benefit plan in which you are interested for additional information or with specific questions about their respective benefits or coverage.