Retired Teachers in Texas will soon take a big hit when it comes to healthcare costs, reports WFAA.
Beginning in September, educators who have reached retirement in Texas will pay double or even triple their current healthcare premiums.
So, why is this happening? Ever since 1985, retired Texas teachers have relied on a state-run program called TRS Care. As of last year, over a quarter million retired teachers were enrolled in the program. But, as medical costs have risen in recent years, Texas lawmakers haven’t adjusted TRS Care to keep up with the medical inflation. That negligence has ultimately left the plan with a budget gap of over a billion dollars.
Now, it’s up to state Legislators to address the fund during this session.
Last week State Comptroller Glenn Hegar called TRS Care a “significant, long-term financial challenge” for the state.