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Personal Healthcare Fund

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Michigan Office of Retirement Services

Personal Healthcare Fund

Personal Healthcare Fund

The Personal Healthcare Fund is a personal, portable fund that you can use to pay your healthcare expenses in retirement. It's made up of these components: Your contributions, your employer's matching contributions, and, if you have 10 years of service, an additional one-time employer contribution to a Health Reimbursement Account. Contributions to the Personal Healthcare Fund are invested in the State of Michigan 401(k) and 457 Plans.

For more information on the investment plans, check out the Plan Highlights guide.

Insurance Enrollment

You, your spouse, and your dependents may enroll in insurance plans if you enroll immediately when you retire and begin coverage on your retirement effective date. If you disenroll from the plan at any time, you, your spouse, and your dependents will not be able to reenroll. If your spouse or dependents are disenrolled at any time, they will not be able to reenroll.

You cannot initiate a new insurance enrollment as a retiree.

Insurance Premiums

As a member with the Personal Healthcare Fund, you are not eligible for subsidized health, prescription drug, dental, or vision insurance through the retirement system. You will be responsible for the entire premium. See rates here.

Changing plans

If you are currently enrolled in any health insurance plan with the retirement system, you can change your enrollment to another plan regardless of your Medicare status. Your change in coverage will be the first day of the second month after your request and required proofs are received. For example, if the Michigan Office of Retirement Services (ORS) receives your change request and any required proofs Jan. 10, your coverage with the new plan will begin March 1.

To change your insurance plan, log in to miAccount and click Insurance Coverage, or complete the Insurance Enrollment/Change Request (R0452C) form and return it to ORS along with all required proofs. 

Coverage can begin the first day of the month after ORS receives your materials if you are enrolling in Blue Cross Blue Shield of Michigan (with or without Optum Rx prescription drug) or moving out of an HMO coverage area. Coverage can begin the first day of the second month if you are voluntarily changing HMOs. For more information, visit Enrollment: When Your Coverage Begins.

Timely application and proofs

To ensure your coverage begins on your requested insurance enrollment date, follow these guidelines for submitting your insurance enrollment and required proofs.

For information about insurance eligibility and enrollment, contact ORS. For other information about your Personal Healthcare Fund, contact Voya Financial at 800-748-6128 or visit the Voya website.

Personal Healthcare Fund or Premium Subsidy Benefit?

As an active member, you may be eligible for the premium subsidy benefit, or the Personal Healthcare Fund, not both. If you're not sure whether you have the Personal Healthcare Fund or the premium subsidy benefit, log in to miAccount and refer to your account summary. You are responsible for paying the balance of the premium amount. See current rates.