Hello everyone,
I have read through the AT&T retiree benefit agreement with Aon Hewitt and here is what I know for folks age 65 & over.
1. $2,700 per year (double for married couples) will go into an HRA account to pay for health insurance premiums and other out of pocket healthcare costs. Think of it as a savings account for healthcare. Any amount not used will roll over into the following year so you don’t lose it. What they may not tell you… you do not have to go through AON for your Medicare Supplement. You could get your prescription drug plan through AON and your Medicare Supplement through an independent agent.
The agreement states the following…
Must enroll in medical and/or prescription
drug coverage through the Aon Retiree Health Exchange in order to have an
amount credited under the AT&T Medicare-Eligible Health Reimbursement
Account Program in 2015.
An HRA from AT&T is provided only to those who are eligible and who
purchase medical or prescription drug coverage through the Aon Retiree Health
Exchange.
Here is a link to a quick facts page from AT&T retirees for…
http://www.telcoretirees.org/wp-cont...AQs-073014.pdf
2. Once you are signed up on a plan you most likely will not be assigned a specific rep with AON that you can call with questions. You will call the general number and speak to whoever answers at the time. They will not have any previous knowledge of conversations or your situation. I suggest you contact an independent insurance agent (that specializes in Medicare Supplement Insurance) so you can get all of your questions answered and have a person to call when you have questions in the future. You can get your Medicare Supplement through that agent. A good agent will be able to show you everything available and help you select a plan that meets your specific needs. They will also be a great resource in the future because carriers come out with new rates and plans all the time.
3. AON is not showing you all of the plans that are available to you. There are less expensive & more comprehensive options. I went to the AON site for AT&T and ran plans for zip code 32162, for a 67 year old female as an example. Here is what I found that they are offering you…
a. Humana Plan F, $218.45/month (you can get the exact same plan for less)
b. Mutual of Omaha Plan M, $192.70/month (no one gets Plan M…lots of money for fewer benefits)
c. Plan A for $152 (It would be crazy for someone to pay this much for a plan that offers so few benefits)
d. Plan C, $235.78
e. Plan D, $216.48
I could go on and on but you get the idea. So, I ran proposals for zip code 32162, 67 year old female on the open market and found more comprehensive plans for less money…
Plan F $171/month
Plan G $158/month
Plan N $135.50/month
All are with top “A” rated insurance carriers. Now this may not be your premium because you may be a different age, smoking status, etc. which could change your premium. My point is don’t take their word for it that they are offering you the best plan for your specific needs. What works for one person may not be the best for another. This should be a very specific individual decision based on your specific needs & situation. Bottom line…speak with an independent agent that specializes in Medicare Supplement Insurance to compare.
I hope this helps.
Regards,
Bill