Tuesday d. stone benefits city pension presentationPresentation Transcript
Your Retiree Health Benefits
? Pre - 65 Retirement Years ? Post - 65 Retirement Years Your Retiree Health Benefits
Your Retiree Health Benefits
Funding Your Medical, Vision & Dental
Coverage Available – At City/FOP Cost
Does Your Spouse Have Coverage
Once You Drop City’s – Can’t Reenroll
City Funding to 65 if Regular Retirement
Eligible for Medicare (primary) at 65
Your Retiree Health Benefits
Other Available Benefit Options HealthcareFor Retirement
Management Retiree Health Funding Healthcare For Retirement
Management Retiree Health Benefits Healthcare for Retirement Years CITY AVM HMO AVM POS DHMO Den PPO Den EE $ 467.35 $ 685.62 $ 13.48 $ 46.02 EE+SP $ 848.83 $ 1,253.78 $ 23.59 $ 86.22 EE+CH $ 806.53 $ 1,195.78 $ 28.31 $ 88.64 FAM $ 1,148.00 $ 1,690.62 $ 39.77 $ 111.72
Teamsters Retiree Health Funding ? Qualifying For Retirement Section 5.2 For bargaining unit members who retire on or after October 1, 2002, the City will contribute two hundred dollars ($200.00) per month for medical insurance benefits to members who retire under a normal retirement. This contribution shall remain contant until the member attains Medicare eligibility, at which time all contributions shall cease. Section 5.3 The City will mail the retiree medical insurance benefit to the retiree’s home address.
Teamsters Retiree Health Benefits ? Pre-65 Retirement Years CITY AVM HMO AVM POS DHMO Den PPO Den EE $ 467.35 $ 685.62 $ 13.48 $ 46.02 EE+SP $ 848.83 $ 1,253.78 $ 23.59 $ 86.22 EE+CH $ 806.53 $ 1,195.78 $ 28.31 $ 88.64 FAM $ 1,148.00 $ 1,690.62 $ 39.77 $ 111.72
IAFF/FOP Retiree Health Funding Qualifying For Retirement Section 1. Effective October 1, 2000, the City will contribute four hundred dollars ($400) per month for health insurance benefits to Bargaining Unit members who retire from employment with the City after their Normal Retirement Date. This contribution shall become effective beginning the month following their termination from employment with the City after their Normal Retirement Date and shall cease upon the member attaining Medicare eligibility.
IAFF Retiree Health Benefits ? Pre-65 Retirement Years CITY AVM HMO AVM POS PPO Den EE $ 501.97 $ 690.75 $ 22.54 EE+SP $ 929.12 $ 1263.14 $ 41.20 EE+CH $ 885.71 $ 1207.75 $ 36.53 FAM $ 1246.92 $ 1690.62 $ 64.54
United Healthcare has a national network and you can live most anywhere in the US to access their network, which is a plus for our retirees.
Retirees that want to live in remote areas with less access to United doctors and dentists have the option of taking the PPO.
FOP Police Retiree Health Benefits <65 Pre-65 Retirement Years FOP Police UHC Choice Plus Low Option UHC Choice Plus High Option PPO <65 Retiree only $ 467.00 $ 530.00 <65 Ret & SP $ 782.00 $ 882.00 <65 Ret & CH $ 725.00 $ 819.00 <65 Ret family $ 961.00 $ 1,103.00
FOP Police Retiree Health Benefits >65 Post -65 Retirement Years FOP Police UHC Choice Plus Low Option UHC Choice Plus High Option PPO >65 Retiree Only $ 240.00 $ 280.00 >65 Ret <65 Spouse $ 576.00 $ 674.00 >65 Ret + Children $ 518.00 $ 606.00 >65 Family $ 860.00 $ 994.00
FOP Police Retiree Health Benefits Over 65 Post-65 Retirement Years FOP Police Over 65 UHC Choice Plus Low Option UHC Choice Plus High Option PPO >65 Retiree Only $ 240.00 $ 280.00 >65 Retiree & Spouse $ 505.00 $ 560.00
Medicare - Age 65 2010 Benefits ? Post-65 Retirement Years
Part A (hospital)
Part B (physician)
Medicare provides coverage automatically when you turn 65, unless SSI
Choice of doctors & hospitals within U.S.
You pay deductibles A/B & coinsurance B
You pay monthly premium for Part B $110
Need to join Medicare Prescription Drug Plan. Plans run by private companies approved by Medicare. Check Formulary
Or step 2
Network driven usually local
HMO, PPO. POS
Usually NO additional premium in addition to Part B unless you take a PPO
Includes a Part D drug plan
Today usually include dental, vision, trips to doctor, gym memberships, but this will be changing
Or step 3
Medicare Supplement Plans
Fills gaps in Original Medicare
ALL plan benefits are defined by Government, but rates can vary by company
Average cost today is $300 per individual
Must be 65
Allows you to travel easily within the U.S.
Does not cover dental, vision, hearing aides etc.
0000001 0000006 0011 0066 LJAM0511A 01 L
SAMPLE - UnitedHealthcare Insurance Company
OUTLINE OF COVERAGE
Benefit Plans A, B, C, F, K, L, N, Select C, Select F Benefit Chart of Medicare Supplement Plans Sold on or After June 1, 2010
This chart shows the benefits included in each of the standard Medicare supplement plans. Every company must make Plan “A” available. Some plans may not be available in your state. Plans E, H, I, and J are no longer available for sale.
Hospitalization: Part A coinsurance plus coverage for 365 additional days after Medicare benefits end.
Medical Expenses: Part B coinsurance (generally 20% of Medicare-approved expenses) or copayments for hospital outpatient services. Plans K, L, and N require insureds to pay a portion of Part B coinsurance or copayments.
Blood: First three pints of blood each year.
Hospice: Part A coinsurance
Medicare Select Plans C and F contain the same benefits as standardized Medicare Supplement Plans C and F, except for restrictions on your use of hospitals.
*Plan F also has an option called a high deductible Plan F. This high deductible plan pays the same benefits as Plan F after one has paid a calendar year $2000 deductible. Benefits from high deductible Plan F will not begin until out-of-pocket expenses exceed $2000. Out-of-pocket expenses for this deductible are expenses that would ordinarily be paid by the policy. These expenses include the Medicare deductibles for Part A and Part B, but do not include the plan’s separate foreign travel emergency deductible.
Medicare Supplement Plans A, B, C, F, K, L, N, Select C, Select F are currently being offered by UnitedHealthcare Insurance Company POV18 6/10
Plan A Plan B Plan C• Plan D Plan F*• Plan G Basic, including 100% Part B co- insurance Basic, including 100% Part B co- insurance Basic, including 100% Part B co- insurance Basic, including 100% Part B co- insurance Basic, including 100% Part B co- insurance Basic, including 100% Part B co- insurance Skilled nursing facility co- insurance Skilled nursing facility co- insurance Skilled nursing facility co- insurance Skilled nursing facility co-insurance Part A deductible Part A deductible Part A deductible Part A deductible Part A deductible Part B deductible Part B deductible Part B excess (100%) Part B excess (100%) Foreign travel emergency Foreign travel emergency Foreign travel emergency Foreign travel emergency Plan K Plan L Plan M Plan N Hospitalization and preventive care paid at 100%; other basic benefits paid at 50% Hospitalization and preventive care paid at 100%; other basic benefits paid at 75% Basic, including 100% Part B coinsurance Basic, including 100% Part B coinsurance, except up to $20 co-payment for office visit, and up to $50 copayment for ER 50% Skilled nursing facility coinsurance 75% Skilled nursing facility coinsurance Skilled nursing facility coinsurance Skilled nursing facility coinsurance 50% Part A deductible 75% Part A deductible 50% Part A deductible Part A deductible Foreign travel emergency Foreign travel emergency Out-of- pocket limit $4620; paid at 100% after limit reached Out-of- pocket limit $2310; paid at 100% after limit reached
Questions to Ask yourself
Can I change to generics to avoid the “Donut Hole” (will be gone by 2014)
If cost is a factor, then Medicare Advantage plan (C) more likely right choice
If doctor is important, ask him what Med Advantage plans he takes.
Does doctor take Medicare?
Plan on traveling a lot, Medicare and Supplement, may be the right option