[§87A-33.5]  State and county contribution;reimbursement for retired employees.  Effective July 1, 2007, anemployee-beneficiary who retires and relocates outside of the State shall bereimbursed for the premiums paid by the employee-beneficiary for a personalhealth insurance policy; provided that the board shall determine whichemployee-beneficiaries and what types of personal health insurance policiesshall be eligible for reimbursement and may set other conditions that shall bemet for the employee-beneficiary to receive the reimbursements provided underthis section.

The reimbursement shall be the lesser of:

(1)  The actual cost of the personal health insurancepolicy; or

(2)  The amount of the state or county contributionfor the most comparable health benefits plan.

Reimbursements shall be paid by the fund on aquarterly basis upon the presentation of documentation that the premiums forthe personal health insurance policy have been paid by theemployee-beneficiary.  This section shall apply to all employee-beneficiarieswho retire and relocate outside of the State, regardless of their date ofretirement. [L 2006, c 167, §1]