§33-16A-12. Coverage following retirement.
In the event coverage would be continued under the group
policy on an employee following his retirement, but prior to the
time he is or could be covered by medicare, he may elect, in lieu
of such continuation of group insurance, to have the same
conversion rights as would apply had his insurance terminated at
retirement by reason of termination of employment or membership.
The converted policy may provide for reduction of coverage
on any person upon his eligibility for coverage under medicare or
under any other state or federal law providing for benefits
similar to those provided by the converted policy.