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RCRV Presenters

Welcome to RCRV’s presentation of Rockwell Collins Insurance Programs available to RC retirees for 2014 10/8/2013. RCRV Presenters. Don Grimm Harlan Hanson James Wolfe

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RCRV Presenters

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  1. Welcome to RCRV’s presentation of Rockwell Collins Insurance Programs available to RC retirees for 2014 10/8/2013

  2. RCRV Presenters Don Grimm Harlan Hanson James Wolfe RCRV SHIIP Counselors for the Senior Health Insurance Information Program of the State of Iowa Insurance Division

  3. Thank You RCRV St Luke’s Hospital & Angela Berns for all the handouts plus the reservations for today’s meeting. Rockwell Collins for providing our meeting room as well as support from Cypress, CA. Extend Health for joining us at several of our meetings

  4. Disclaimer We do not make decisions for Rockwell Collins (RC), we are here to present information only We will not discuss Rockwell Collins Policies or Government Health Care Policy issues Please hold all questions until the end Save personal questions for one-on-one discussions with a counselor at the end of the presentations

  5. What is SHIIP?Objective Information Source Part of the State of Iowa Insurance Division Answers questions and provides assistance Doesn’t recommend or endorse specific companies, products or agents

  6. Rockwell Collins Medicare Insurance Program Rockwell Collins (RC) has partnered with Extend Health to provide coverage for Medicare-eligible retirees and spouses RC will continue to provide up to $669 for each eligible retiree and their eligible spouse (based on 25 years of service with RC) You will receive these funds in a Health Reimbursement Arrangement (HRA) administered by Extend Health You can be reimbursed for your premiums only by submitting claims to Extend Health

  7. Who is Extend Health? Extend Health is the largest private Medicare exchange in the industry They have over 2500 agents, located in Texas and Utah who will work with you to enroll you in a plan of your choice This is Rockwell Collins third year with them Insurance Questions--contact Extend Health at 1-866-249-9924

  8. Extend Health’s 2014 Offerings 13 Part D plans (from 3 carriers) will be offered by Extend Health. Several plans have been discontinued or replaced by other plans. See Extend Health’s website for details. 7 MAPD (Medicare Advantage with Prescription Drugs) plans by 3 carriers will be offered by Extend Health. Several HMO’s from $0 to $85 per month and 3 PPO’s from $0 to $37 per month are being offered. See Extend Health’s website for details. 3 Medigap carriers plans will be offered by Extend Health. You will have a choice of Plans C, D, F, or N plus High Deductible F. See Extend Health’s website for details. The above is for Linn County. Other counties may have more or less plans available. If you find a more economical drug plan than offered by Extend Health (and have signed up for a Health plan with Extend Health), you may sign up for a drug plan yourself, or through SHIIP or an agent of your choice and still collect your HRA.

  9. Enrollment Period Medicare Open Enrollment is from 10/15/13 through 12/7/13 2014 information was available on Oct. 1, 2013 at www.medicare.gov or www.extendhealth.com/rockwellcollins. You must enroll via Extend Health, or the HRA will not be available to you now or in the future If you are turning 65 and have under-65 dependents, you must enroll prior to the month of your birthday or risk the chance of having your dependent’s insurance canceled by RC. See current contract info in future cell.

  10. If You Want To Stay With Your Current Provider If you are already enrolled in a plan through Extend Health and wish to continue that plan, you don’t need to do anything We still recommend you review your drug programs. Many retirees can get a more economical drug program if they just look!

  11. Health Reimbursement Arrangement (HRA) RC will provide a HRA for each Medicare recipient (you and your eligible spouse) if enrolled via Extend Health You will get this money by providing a claim form to Extend Health for each premium paid along with proof of payment. Use the recurring form for monthly reimbursements for your Part B premium. HRA funds can only be used for reimbursement of premiums, not for copays or other medical costs Put both retiree and spouse on a separate recurring claim forms. Retiree info must be on the top of each form!

  12. HRA Info (cont) Your Medicare Part B premiums ($104.90 for 2013) can be reimbursed from the HRA. Proof of payment can come from one of the following documents sent to you by social security: Statement received in Dec of 2013 showing benefits and deductions for the coming year, 2014 SA-1099 received in January 2015 for your 2014 income tax records If your spouse does not use all the money in his or her HRA, you can claim your spouse’s portion 12

  13. HRA Info (cont) No carry over. You must claim all your HRA for 2014 (claims will be accepted through 3/31/15) or you will lose it. (For 2013 dollars, you must claim by 3/31/14) You must enroll in either a Medigap, Medicare Advantage or Part D Drug Plan through Extend Health to be eligible for the HRA If you had 25 years (or more) with RC, you will receive $669 each for you and your spouse (if applicable) If you had less than 25 years with RC you will receive notification of your HRA amount at the time you retire and a balance indicator as you receive funds from your HRA

  14. Bargaining Unit Insurance current contract If you retired under the current contract: Your coverage remains the same until 12/31/13, Then you will transfer to Family Medical Care Plan (FMCP) offered by the Union. If you turn 65 prior to 12/31/13, you must sign up for Medicare Parts A and B. You must also sign up for a supplement, MA plan and/or drug plan as wellvia Extend Health to be eligible for your HRA with an effective date of 1/1/14. If you retired during the current contract and do not reach age 65 until 2019, then you are covered until 12/31/2018 by your contract. If you or your spouse are under 65 and not Medicare eligible in 2014, then call FMCP directly at 1-877-937-9602.

  15. Bargaining Unit Insurance prior contract (ended on 5/1/13) • If you retired under prior contract that expired in May of 2013, and are Medicare-eligible, you are covered until 12/31/13 then you must follow the same Extend Health/HRA program as non-bargaining unit retirees. • If you are under 65, then you will be covered via the Collins-sponsored group medical plan through December 31, 2013 as other bargaining unit retirees. Then you will be offered the same PPO Plus Plan that Rockwell Collins offers all retirees under Medicare age effective 1/1/14.

  16. Rockwell Collins Insurance for Under 65 Retirees (Non Bargaining unit only) RC will continue to provide the PPO Plus plan administered by Wellmark BCBS This is a high deductible health plan which is eligible for a HSA HSA contributions must be made after tax and claimed on your next year taxes Letters will be sent out Oct 28, 2013 defining RC’s offering.

  17. Split Families(One Spouse under 65, the other on Medicare) People on Medicare will need to select a program via Extend Health (no action required if you want the same plan from Extend Health in 2014 that you had in 2013) Folks under 65 will continue to have the PPO Plus plan administered by Wellmark BCBS 4 months prior to your 65th birthday, you will get a package from Extend Health. You must enroll in a plan with the same effective date as your Medicare effective date or risk not having insurance for your dependents and you will not receive a HRA. You must have a spouse covered under the RC plan if you want coverage for other dependents. If you and your spouse are both Medicare eligible, then RC insurance will not be offered to the remaining dependents

  18. Medicare Info From this point forward, we will be reviewing Medicare requirements. This is to provide info to folks turning 65 next year and it is a good review for the rest of you already on Medicare.

  19. People Turning 65 in 2014 In Iowa, over 40,000 people are turning 65 in 2013 and about the same in 2014 Rockwell Collins retirees turning 65 will receive a package from Extend Health 4 months prior to their birthday. To preserve your eligibility for the RC HRA you must sign up for a health insurance plan through Extend Health prior to your birthday. Your plan must take effect on the same date as your Medicare effective date If not, you may lose your RC insurance for your dependents who are not yet 65. You may also lose the HRA for both yourself and your spouse now and in the future years.

  20. MEDICARE End-Stage Renal Disease Age 65 and older Disability MEDICAREWho Is Eligible? Must be a U.S. citizen or permanent resident for 5 years

  21. MEDICARE Part A Hospital Insurance Part B Medical Insurance Medicare Health Insurance

  22. Monthly MedicarePart APremiums- 2013 Based on Work Credits 40 quarters----------------- Free (Eligible for Social Security benefits) 30-39 quarters------------- $243 Less than 30 quarters-- $441

  23. Enrolling in Medicare Part A For people who have 40 work quarters of credit, i.e., for whom Part A is free Enrollment is automatic if drawing Social Security benefits No penalty for delaying Part A if it is free. Can enroll during Initial Enrollment Period or later

  24. Enrolling in Medicare Part B • Initial Enrollment Period 7 months, beginning 3 months before age 65 (Enrollment automatic if drawing SSA) • General Enrollment Period • January 1 through March 31 each year • Coverage effective July 1 • Premium increases 10% for each 12-month period you were eligible but did not enroll • Pay this penalty as long as you have Part B

  25. Medicare-EligibleRetired & No Working Spouse Medicare is your primary coverage. Need to enroll in Medicare Part AandPart B. Enrolling in Part B later can result in higher premium and a wait before getting coverage. All Rockwell Collins Retirees at age 65 must enroll in Part A and B unless your spouse is working and you are covered on their insurance

  26. Medicare-Eligible andYou or Your Spouse Works Can continue on employer plan Employer’s plan remains primary to Medicare Employer can’t offer alternatives Don’t need to enroll in Medicare Part B Can enroll in Part B when worker retiresregular premium & no delay in coverage

  27. Part B for Worker or SpouseSpecial Enrollment Period For worker or spouse with Medicare Up to 8 months after worker retires. (Rockwell Collins Retirees must have insurance through Extend Health with same effective date as your Medicare effective coverage to get HRA and to keep insurance for your under age 65 dependents)

  28. You might want to delay Part A if You are working or covered by a working spouse and the employer plan is a qualified high deductible plan and you have a Health Savings Account

  29. Your Medicare Coverage Choices Original MedicareMedicare Advantage Part A & B Part C = Parts A & B Part D Drug Benefit Part D Drug Benefit Medicare Supplement

  30. Medicare Part A Hospital Insurance Inpatient Hospital Home Health Care Skilled Nursing Facility Hospice

  31. Part A InpatientWhat You Pay (2013)

  32. Medicare Part B $104.90 per Month (2013) Medical Insurance Other Services & Supplies Doctor Services Outpatient Hospital & Emergency Room Durable Medical Equipment Home Health Care

  33. CoveredPreventive Services Welcome to Medicare preventive visit Annual wellness visit Abdominal aortic aneurysm screening Bone mass measurement Cardiovascular screenings Colorectal cancer screenings Diabetes screening Glaucoma tests

  34. CoveredPreventive Services (Cont) Mammograms (screening) Pap test/pelvic exam/clinical breast exam Prostate cancer screening Flu shots, pneumococcal shots & Hepatitis B shots Smoking cessation Alcohol misuse counseling Depression screening Obesity screening & counseling Behavioral Therapy for Cardiovascular

  35. Medicare SupplementInsurance • Health insurance policies sold by private insurance companies • Also called “Medigap” • Cover “gaps” in Original Medicare Plan • 10 standardized policies Plans A, B, C, D, F, G, K, L, M, N • Extend Health has Plans C, D, F, F High Deductible and N available only • Costs may vary • By plan • By company • Where you live

  36. Medicare Part D Available to all people on Medicare Enrolled in Part A and/or Part B Includes those on Medicare due to disability Don’t need part D if covered by current bargaining unit contract plan until 1/1/2014 then must have signed up for a Part D PDP (Prescription Drug Plan)

  37. Initial Enrollment Period (IEP) New Medicare Beneficiary – can join a drug plan any time during the 7-month period surrounding their Medicare eligibility (Bargaining unit folks must have Medicare A and B effective at time of their normal Medicare Effectivity)

  38. Annual Coordinated Election PeriodOctober 15 – December 7 During the Annual Election Period you can: Change prescription drug plans Enroll in a drug plan for the first time Drop Medicare drug coverage Enroll in a Medicare Advantage plan Change Medicare Advantage plans Disenroll from a Medicare Advantage plan or Keep your current coverage O-5

  39. Monthly MedicarePart DPremiums Income above: $85,000 individual and $170,000 joint – you willpay a higher premium

  40. Late Enrollment Penalty Assessed 1% of base premium* for every month you were eligible to enroll in Medicare’s prescription drug coverage and did not enroll. Pay penalty for your life time Example: Did not enroll in 2006-your penalty would be 91 months X 1% or 91% X $32.42 per month in penalty or $29.50 per month penalty (penalty goes up each year if National averages go up) * $32.42 in 2014

  41. Standard Benefit-What You Pay, 2014 costs Deductible—cannot exceed $310 Co-payment or coinsurance until you reach the coverage gap (or donut hole)--which is $2,850 in total drug costs (what you pay and the plan pays) Coverage gap—once you reach the gap, you get a 52.5% discount on brand name drugs and 27% discount on generics; when your true out-of-pocket costs reach $4,550 the gap ends 5% coinsurance after you leave the gap or $2.55/$6.35 whichever is cheaper

  42. Creditable Coverage Notice Individuals receiving their prescription drug coverage from an employer, retiree or pre-standard Medicare supplement plan will receive a notice by September 30 each year telling them if their coverage is “as good as or better than Medicare coverage”

  43. Comparing Part D Plans • Premium • Deductible • Formulary • Cost • Coverage in the Gap • Pharmacy

  44. How do you compare plans? Information is Online www.medicare.gov SHIIP can help you compare plans! Phone numbers later in presentation

  45. Medicare Advantage(Part C) Dr. A Home Health Agency Ambulance Service Other Insurance $ Medicare Medicare Advantage Plan $ $ $ Drugs $ $ $ $ Lab Dr. B Hospital

  46. Medicare AdvantageEligibility Have Medicare Parts A & B Covers people on Medicare because of disability Do not have end-stage renal disease Live in service area

  47. Medicare AdvantageA Private Solution Medicare contracts with a private companyon an annual basis Contracts require that plans provide Medicare Part A & B services The plan handles claims You receive services and make payments based on theprivate plan’s rules There are no supplementsfor these plans and Medicare supplement insurance will not pay

  48. Medicare AdvantageOut-of-Pocket Costs Must still pay Part B premium May pay additional monthly premium Pay other out-of-pocket costs Different from Original Medicare Plan Vary from plan to plan

  49. Medicare AdvantageAnnual Contracts Contract year is January 1 through December 31 The plan can be renewed, changedor terminated on an annual basis

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