Emeriti Retirement Healthcare Savings Program

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Presentation transcript:

Emeriti Retirement Healthcare Savings Program 2019 Benefits Welcome and introductions Emeriti Retirement Healthcare Savings Program

Forward thinking retirement planning includes healthcare Emeriti Retirement Healthcare Savings Program Forward thinking retirement planning includes healthcare Emeriti and Aetna are here to help you make the most of your healthcare choices in retirement.

Total Financial Security Working together to create a financially healthy retirement Income Security Healthcare Security Total Financial Security As we close – we want to remind you that Emeriti and TIAA are working closely together to connect health and well-being for you and your dependents.

Retirement Health Account Reimbursement Benefit Group Health Insurance Emeriti’s three pillars of retiree healthcare Tax-advantaged Retirement Health Account Use Assets Exclusively For Medical Expenses In Retirement Tax-free Reimbursement Benefit For Qualified Out-of-Pocket Medical Expenses Flexible Group Health Insurance Underwritten By Aetna Emeriti provide three core components – health account, reimbursement benefit and group health insurance Benefits available to retiree, spouse and eligible dependents

Medicare Advantage Plans Part D Prescription Drug Plans Aetna 2019 retiree health plans Medicare Advantage Plans Part D Prescription Drug Plans Dental Plan 3 plans Same plan design Premiums, all plans: - 16.36% 3 Medicare-approved prescription drug plans Plan design reflects reduction in the amount paid during the Coverage Gap Premiums: 1 plan No premium rate change Rx Premium Plan + 8.5% Rx Plus Plan + 3.9% Rx Standard Plan - 6.0% For institutional use only. Not for use with or distribution to the public.

Benefits available to retiree, spouse and eligible dependents How Medicare Advantage Plans Work Simple: Medicare Advantage is an all-in-one plan Easy to use One ID card for medical Rx More benefits than Original Medicare Parts A and B Care advocacy programs Wellness benefits One monthly Explanation of Benefits for each medical and pharmacy Here’s how they work – Aetna is your primary insurance. You use one Aetna card. Your costs are simplified – no Medicare deductibles and no plan deductibles. And – you get extra benefits – this year, annual eye and hearing exams, SilverSneakers and Resources for Living. Benefits available to retiree, spouse and eligible dependents For institutional use only. Not for use with or distribution to the public.

How Medicare Advantage Plans Work Flexible: Customized plans support your access to providers Covering you in or out-of-network: Customized group plan Access to providers nationwide Providers do not have to be in Aetna network Same benefits in or out of network No referrals needed Covers retirees nationally Here’s how they work – Aetna is your primary insurance. You use one Aetna card. Your costs are simplified – no Medicare deductibles and no plan deductibles. And – you get extra benefits – this year, annual eye and hearing exams, SilverSneakers and Resources for Living. Benefits available to retiree, spouse and eligible dependents For institutional use only. Not for use with or distribution to the public.

Benefits available to retiree, spouse and eligible dependents How Medicare Advantage Plans Work Holistic: Supporting your health journey Working with you and your providers to meet the range of health needs Preventive Wellness At-risk Advanced Fall Prevention Program Flu Shot Reminder Women’s Annual Health Reminder Colon Cancer Screening Reminder Healthy Home Visits Silver Sneakers Program 24/7 Information Line Personal Health Record Resources for Living® Diabetes Program Coronary Artery Disease Program Cerebrovascular Disease Program Congestive Heart Failure Program Home Health Aid Comorbid Condition Management Program Readmission Avoidance Program Compassionate Care Program Here’s how they work – Aetna is your primary insurance. You use one Aetna card. Your costs are simplified – no Medicare deductibles and no plan deductibles. And – you get extra benefits – this year, annual eye and hearing exams, SilverSneakers and Resources for Living. Benefits available to retiree, spouse and eligible dependents For institutional use only. Not for use with or distribution to the public.

Plan 2019 Medical Plans WHAT YOU PAY Plus Standard Plan L Plan K Aetna Medicare Advantage Premium ESA Aetna Medicare Advantage Plus PPO/ESA-PPO Standard Aetna SRM Plan L Plan K Plan Deductible $0 in- and out-of-network $0 Medicare Deductible 25% of Part A 100% of Part B 50% of Part A Primary Care $15 copay * 15% coinsurance (in-network) 25% (out-of-network) $15 copay (in-network) 30% coinsurance (out-of-network) 25% coinsurance 50% coinsurance Specialist $40 copay Hospital 100% by the Plan $500 per admission (in-network) 25% per admission $200 per day (1-7) (in-network) 30% per admission. Preventive Care Covered 100% $0 after Medicare 50% after Medicare Out-of-Pocket Limit $2,000 * $2,750 (in-network) $5,500 (out-of-network) $6,700 (in-network) $10,000 (out-of-network) $2,480 $4,960 2019 Medical Plans WHAT YOU PAY Medicare Advantage PPO Premium Plan Medicare Advantage PPO Plus Plan Medicare Advantage PPO Standard Plan Plan Deductible $0* Medicare Deductible $0 Primary Care $15 copay * 15% coinsurance (in-network) 25% coinsurance (out-of-network) $15 copay (in-network) 30% coinsurance (out-of-network) Specialist $15 copay* $40 copay (in-network) Hospital Covered 100% $500 per admission. No day limit. (in-network) 25% per admission. No day limit. (out-of-network) $200 per day (1-7). No day limit. (in-network) 30% per admission. No day limit. (out-of-network) Preventive Care Out-of-Pocket Limit $2,000* $2,750 (in-network) $5,500 (out-of-network) $6,700 (in-network) $10,000 (out-of-network) Review items on slide *In- and out-of-network YOU CHOOSE ONE MEDICAL PLAN For institutional use only. Not for use with or distribution to the public.

2019 Medicare Part D Drug Plans Rx Premium Plan Rx Plus Plan Rx Standard Plan Open 2 Formulary GRP B2 Formulary $100 deductible $310 deductible Initial Coverage Limit: Coinsurance: 15% generic, 25% preferred brand, 40% non-preferred brand 50% non-preferred brand 25% preferred brand Coverage Gap: Same coverage at same coinsurance level 15% copay for Tier 1 generic drugs, 45% brand 58% generic, 45% brand Catastrophic Coverage: 100% coverage 95% coverage 2019 Medicare Part D Drug Plans YOU CHOOSE ONE RX PLAN WHAT YOU PAY Rx Premium Plan Rx Plus Plan Rx Standard Plan Open 2 Plus Formulary GRP B2 Formulary Deductible: $100 Deductible: $200 Deductible: $415 Initial Coverage Limit: 15% generic, 25% preferred brand, 40% non-preferred brand 15% generic, 25% preferred brand, 50% non-preferred brand 15% generic, 25% preferred brand Coverage Gap: 15% generic, 25% brand Coverage Gap:* 15% copay for Tier 1 generic drugs, 25% brand 37% generic, 25% brand Catastrophic Coverage: 100% coverage, you pay nothing 95% coverage, you pay 5% Review items on slide *The Medicare Coverage Gap Discount Program will continue to provide manufacturer discounts on brand name drugs to Part D beneficiaries who reach the Coverage Gap and are not already receiving “Extra Help.” A 70% discount on the negotiated price of preferred and non-preferred brand drugs (excluding the dispensing fee) will be available from manufacturers that have agreed to provide the discount. For institutional use only. Not for use with or distribution to the public.

2019 Dental Plan – Optional Preventive Service 100% coverage Annual Deductible (basic and major services) You pay $100 Basic Services Coverage (fillings, standard crowns, extractions) You pay 50% Major Services Coverage (root canal therapy, surgical removals, dentures) Annual Benefit Maximum $1,500 NOTES: Twelve month waiting period applies for major services, but may be waived with evidence of continuing coverage. One-time only opt-in opportunity. Dental is only available when you enroll in a combination Medical/Rx coverage, or elect the stand-alone Rx Standard Plan Please note: in the states of CA, OR, WA, the stand-alone Dental plan may be elected if the participant is enrolled in a Kaiser Permanente MAPD Plan, and with evidence of existing coverage. Dental not available in MD. For institutional use only. Not for use with or distribution to the public.

Summary You have some important decisions to make DO NOTHING & BE DEFAULTED INTO THE SAME PLAN - OR – ENROLL IN THE PLAN OF YOUR CHOICE Your next steps - review items on slide You have some important decisions to make WE’RE HERE TO HELP YOU EVERY STEP OF THE WAY For institutional use only. Not for use with or distribution to the public.

Personalized counseling YOU MAY CALL AETNA SPECIALISTS FOR SUPPORT 1-855-212-5666 If you’re unsure about which plans to choose – call Aetna specialists who will provide personalized counseling for you and your dependents. For institutional use only. Not for use with or distribution to the public.

Emeriti’s Open Enrollment Timeline Early November Open enrollment kit mailed to retirees Retiree teleconferences – details in newsletter and enrollment kit OCTOBER NOVEMBER DECEMBER Mid-October Open enrollment newsletter mailed to retirees Nov 5 – Dec 7 Open enrollment dates For institutional use only. Not for use with or distribution to the public.

Thank You QUESTIONS? Thank you. Do you have additional questions?

This material is for informational or educational purposes only and does not constitute investment advice under ERISA. This material does not take into account any specific objectives or circumstances of any particular investor, or suggest any specific course of action. Investment decisions should be made based on the investor’s own objectives and circumstances. Interests in any retiree healthcare plan discussed herein are offered solely by the employer. Emeriti, TIAA, CBIZ RPS, Aetna Life Insurance Company, and HealthPartners are independent corporations and are not legally affiliated. The full name of Emeriti Retirement Health Solutions is The Emeriti Consortium for Retirement Health Solutions, an Illinois Nonprofit Corporation. Emeriti Retirement Health Solutions is not an insurance company, insurance broker or insurance provider. The Emerti Program is delivered in collaboration with TIAA, CBIZ RPS, Aetna Life Insurance Company, and Health Partners. CBIZ RPS is Emeriti’s disbursement record keeper for Emeriti group insurance administration and Emeriti medical expense reimbursement processing. CBIZ RPS is a Philadelphia company with more than forty years of experience in full-service benefits services supporting employees and retirees in organizations nationwide. Teachers Insurance and Annuity Association of America (TIAA) is Emeriti’s accumulation record keeper, trust services provider, and investment manager. TIAA is based in New York and has nearly one century of distinguished service to the non-profit community for financial services supporting retirement income security. Aetna Life Insurance Company is the primary health insurer for the Emeriti Program, providing fully insured medical insurance and health-related products. For over 150 years, Aetna has been an innovator in the delivery of insurance solutions and is a nationwide provider of Medicare-approved Part D prescription drug services. For Minnesota institutions and their Minnesota-resident retirees, HealthPartners provides participants with medical insurance and health-related products. HealthPartners is the largest consumer-governed nonprofit health care organization in the nation. Teachers Insurance and Annuity Association of America (TIAA) will provide services to the plan and may issue plan communications on behalf of the plan sponsor, in its capacity as a plan record keeper. TIAA group of companies cannot and does not provide tax or legal advice and recommends that plan sponsors consult their own legal and tax advisors for such advice. FOR INSTITUTIONAL USE ONLY. NOT FOR USE WITH OR DISTRIBUTION TO THE GENERAL PUBLIC.