Texas: Governor Abbott Directs TRS To Lower Medicare Advantage Costs

~ In a recent announcement, Governor Greg Abbott has directed the Teacher Retirement System of Texas (TRS) Board of Trustees to implement premium reductions for retired educators. This decision aims to balance the long-term financial stability of the TRS-Care fund while also reducing Medicare Advantage insurance costs for retired teachers.

Governor Abbott expressed his support for retired public educators, acknowledging their dedication to shaping the future generation of Texans. He highlighted the state's efforts in providing financial relief and strengthening retirement security for teachers, including historic investments in recent years.

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The Governor's letter, which can be read here, outlines the state's ongoing commitment to supporting retired educators and returning savings directly to them. In 2023, Governor Abbott signed legislation that provided a cost-of-living adjustment and supplemental payment to retired teachers, amounting to a $5 billion investment that permanently increased monthly annuities. Last year, he also delivered the largest investment in public education in Texas history, with over $4 billion allocated for teacher and staff pay raises.

This latest directive from Governor Abbott is another step towards ensuring that retired educators receive the support and recognition they deserve for their contributions to Texas' education system.

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