tuesday d. stone benefits city pension presentation
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 OptionsHealthcareF
or 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.
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
IAFF Retiree Health Benefits ?
Pre-65 Retirement
Years
United Healthcare
• 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
Step 1Original Medicare
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 2Medicare Advantage
Part C Replaces Medicare
•Private companies
•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 3Medicare Supplement
Plans(private companies)
•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.
•Basic Benefits: •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
Your Retiree Health Benefits