Except for full-time employees that exercise the option to opt-out under § 33.040, the group insurance plan created and established under this subchapter shall cover each person within the following classes of officers and employees subject to eligibility as provided in § 33.038:
(A) Full-time elected township officers and employees and their spouses and dependents; and
(B) Eligible retired full-time employees, elected officials and their spouses and dependents.