TRS News, Retiree Edition, Spring 2023 Page: 3
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SPRING 2023
TRS Health Plans Move to Express Scripts for Pharmacy Bi
benefits
At their February board meeting, the TRS Board of
Trustees approved Express Scripts (ESI) as the new
pharmacy benefits manager for all TRS health
plans.
TRS is dedicated to offering reliable benefits for the
most competitive prices. One way we do this is through
regularly reevaluating our benefits contracts. This
ensures we get the best pricing and services for
our members and employers. Industry-leading
companies come to us with competitive proposals.
ESI had the highest ranking based on financial and
operational strength.
What This Means For You
We made a list of Frequently Asked Questions
(FAQs). Please review them to get the most
information in one place.
Visit Express Scripts FAQsIf you're thinking about working soon after retirement, you must
first fulfill the one-month break in service requirement per statute.
That's right, all retirees must observe a one full, calendar-
month break in service after their effective retirement date to
avoid revoking their retirement.
This means if you return to work for a TRS-covered employer in the
month directly following your effective retirement date, you will revoke
your retirement. You will be required to return any annuity payments
along with any partial lump-sum option payments (PLSO) or TRS-
Care health care payments you received. Additionally, if you wish to
retire again, you must terminate all employment with TRS-covered
employers and resubmit your retirement paperwork with a new date.
Keep in mind:
Early-age retirees may not negotiate with a TRS-covered
employer, for any type of employment, before completing the
one full, calendar-month break in service.
Normal-age retirees may not negotiate with a TRS-covered
employer for any type of employment that would not qualify
for an Employment After Retirement (EAR) exception before
completing their one full, calendar-month break in service.You'll be able to check ESI's online pharmacy
search tool later this fall. Most current 90-day-
supply pharmacies will remain in network, but
please verify that once the search tool is live.
You'll also be able to view the formulary and drug
cost estimator this fall. If ESI does not cover your
drugs, you'll get a communication from them with
instructions on how to find an alternative.
When Coverage Starts
ESI will start your coverage on Jan. 1, 2024 - the
first day of your new TRS-Care plan year.
The start date applies to TRS-Care Standard and
TRS-Care Medicare Rx. Until then, CVS Caremark
and SilverScript will continue to provide your
prescriptions.
You'll get more information about ESI, transition
of care, benefit costs, and ID cards this fall.11111
1
June 15 Rule
If you're retiring at the end of a school year, the June 15 rule
allows you to have a retirement date of May 31 if you terminate
employment no later than June 15 and have completed all work
required by your contract for the school year. This option delays the
start of your one full, calendar-month break in service. Therefore,
you may not return to work from June 15 through July 31;
otherwise, you will revoke your retirement.
Be sure to contact TRS with questions you may have about your
specific situation.3
EMPLOYMENT AFTER RETIREMENT REMINDER:
Mandatory One-Month Break in Service
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Teacher Retirement System of Texas. TRS News, Retiree Edition, Spring 2023, periodical, Spring 2023; Austin, Texas. (https://texashistory.unt.edu/ark:/67531/metapth1578008/m1/3/?q=Lamar+University: accessed June 1, 2024), University of North Texas Libraries, The Portal to Texas History, https://texashistory.unt.edu; crediting UNT Libraries Government Documents Department.