b'Capital Region Airport Commission NOTES TO FINANCIAL STATEMENTS June 30, 2025 and 2024 Note 9.HEALTH INSURANCE CREDIT (HIC) PLANPlan DescriptionThe Political Subdivision Health Insurance Credit (HIC) Plan was established pursuant to 51.1-1400 et seq. of the Code of Virginia, as amended, and which provides the authority under which benefit terms are established or may be amended.All full-time, salaried permanent employees of participating politicalsubdivisionsareautomaticallycoveredbytheVRSPoliticalSubdivisionHICPlanupon employment. This is an agent multiple-employer plan administered by the Virginia Retirement System (theSystem),alongwithpensionandotherOPEBplans,forpublicemployergroupsinthe Commonwealth of Virginia. Members earn one month of service credit toward the benefit for each month they are employed and for which their employer pays contributions to VRS. The HIC is a tax-free reimbursement in an amount set by the General Assembly for each year of service credit against qualified health insurance premiums retirees pay for single coverage, excluding any portion covering the spouse or dependents. The credit cannot exceed the amount of the premiums and ends upon the retirees death. The specific information about the Political Subdivision HIC Plan OPEB, including eligibility, coverage and benefits is described below: Eligible Employees The Political Subdivision Retiree HIC Plan was established July 1, 1993 for retired political subdivision employees of employers who elect the benefit and retire with at least 15 years of service credit. Eligible employees include full-time permanent salaried employees of the participating political subdivision who arecoveredundertheVRSpensionplan.Theseemployeesareenrolledautomaticallyupon employment. Benefit Amounts The Political Subdivision Retiree HIC Plan is a defined benefit plan that provides a credit toward the cost of health insurance coverage for retired political subdivision employees of participating employers. For employees who retire, the monthly benefit is $1.50 per year of service per month with a maximum benefit of $45.00 per month. For employees who retire on disability or go on long-term disability under the Virginia Local Disability Program (VLDP), the monthly benefit is $45.00 per month.HIC Plan Notes The monthly HIC benefit cannot exceed the individual premium amount. There is no HIC for premiums paid and qualified under LODA; however, the employee may receive the credit for premiums paid for other qualified health plans. Employees who retire after being on long-term disability under VLDP must have at least 15 years of service credit to qualify for the HIC as a retiree. 50'