Texas Insurance Code 1575.155 – Coverage for Dependents of Retiree
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(a) A retiree participating in the group program is entitled to secure for the retiree’s dependents group coverage under this chapter for which the dependents are eligible under this chapter or any other law, including requirements established by the trustee.
(b) The additional contribution payments for the dependent coverage shall be deducted from the annuity payments to the retiree in the manner and form determined by the trustee.
Terms Used In Texas Insurance Code 1575.155
- Annuity: A periodic (usually annual) payment of a fixed sum of money for either the life of the recipient or for a fixed number of years. A series of payments under a contract from an insurance company, a trust company, or an individual. Annuity payments are made at regular intervals over a period of more than one full year.
- Dependent: A person dependent for support upon another.
- Trustee: A person or institution holding and administering property in trust.