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| Date: | Mon, 9 Dec 2019 10:07:16 +0000 |
| Content-Type: | multipart/alternative |
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FFFOA Newsflash 33-- Medical Premiums for FAO Retirees
Following the FAO tender fpr BMIP/MMBP medical insurance which was awarded to CIGNA, FAO has now announced the Insurance Premiums for 2020 in Admin Circular 2019/10.
Following FFOA representations to FAO management to re-adopt the former system of flat premiums and the apportionment of premiums on a 50-50% basis as is done by WFP and IFAD, premium rates are now shared equally between the participating former staff member (or their survivor/s) and the Organization; The new arrangement is considered both more transparent and equitable and restores the Organization's contribution to meeting medical insurance costs for its staff and retires..Since premiums since 2016 were set as a percentage of full pension, premiums varied between participants so it is impossible to say whether the 2020 premiums will individually be higher or lower than in 2019.(As an indicator, the BMIP premium in 2013/14 was Euro 114.5 for a single person so the 2020 premium at E132.45 is some 15% higher than it was 7 years earlier.)
The monthly deduction of the retiree (or their survivor/s) however shall not exceed the higher of:
a. 4 percent of the full periodic benefit from the United Nations Joint Staff Pension Fund (UNJSPF) (i.e. recalculated to include any portion that may have been commuted into a lump-sum), including cost-of-living adjustments; or
b. 4 percent of 46 percent of the Final Average Remuneration (as calculated by the UNJSPF and expressed in United States Dollars) of the former staff member as long as he/she participates in the plans.
The below table represents the BMIP/MMBP New Monthly Premium Deduction (participant’s share only) as at 1 January 2020:
EURO SCHEME
(Headquarters Staff and Retirees under Euro Scheme) January 2020 Rates (in Euros)
Participants
BMIP
MMBP
Staff member only
132.45
16.35
Staff member + 1 family member
257.75
32.44
Staff member + 2 family members
323.05
40.53
Staff member + 3 family members
388.35
48.62
Staff member + 4 or more family members
453.66
56.73
DOLLAR SCHEME
(Staff in the Field and Retirees under USD Scheme)
1 January 2020 Rates (in US Dollars)
Participants
BMIP
MMBP
Staff member only
162.77
18.98
Staff member + 1 family member
317.55
37.96
Staff member + 2 family members
398.19
47.43
Staff member + 3 family members
478.88
56.90
Staff member + 4 or more family members
FFOA Secretariat
559.54
66.37
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