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If, on January 1, 1988, a local education agency made supplemental medical insurance benefits available to its retirees who are covered by Medicare benefits, and the benefits of the plan are equal or superior to the plan offered to retirees pursuant to § 8-27-209, the local education agency shall be eligible to receive directly the payments provided for in § 8-27-209(d). Participation in an insurance trust, county-wide plan, self-insurance, or similar benefit plan shall not disqualify the local education agency from these payments.
The determination of the equivalency or superiority of the local benefits shall be made by an outside, independent firm or consultant. The local education insurance committee shall contract with the firm or consultant under the procedures in § 8-27-103(a). A written report shall be supplied to the local education agency in the event that local plan is determined not to be equal or superior.
Local education agencies having medical benefits that are not equal or superior to the plan offered pursuant to § 8-27-209 shall not be eligible for direct payments.
Any payment made by the state pursuant to this part shall first be used to reduce or eliminate any contribution required of retirees participating in such local plan and shall not result in a reduction of financial support of such plan by the local education agency.
The supplemental medical insurance authorized under this section shall not be available to any person otherwise qualified under subsection (a), whose initial employment with a qualifying employer commenced on or after July 1, 2015. The rights of election, transfer, and enrollment conferred by this section shall not be available to any person whose initial employment with the state or other governmental agency qualifying them for plan membership commenced on or after July 1, 2015.