ATT Cancels Retiree Health Plan

[somarco]

I am currently working with 3 AT&T retirees. As of 1/1/15 the current ATT retiree plan is no more. Instead, ATT will fund $2700 (double for married couples) via an HRA and turn you loose in the market.

But ............

You have to buy your coverage through Aon to get the $2700.

But .................

You don't have to buy ALL your Medicare coverage. You can just buy a PDP via Aon and still get the $2700.

Or you can buy PDP, Medigap or MAPD.

The key is the ATT retiree doesn't have to spend all their money on Aon peddled products. Any unused HRA funds at the end of the year roll over to the next.

Carry on.

 

[vic120]

So if I understand you

If someone gets a drug coverage for $40 per month $480 for the year

they will not get $2220 back instead it will roll over to next year
and Aon will pay $4920 for medical.

Unless I am missing something

But If that's the case then I don't see how that helps
I would not expect the client to see that as beneficial instead of getting cov through them and not paying anything day 1

 

[somarco]

Well, you can do what you want, but I am using this info to write 3 (hopefully more) Medigap plans on ATT retirees. Seems a better alternative than walking away and getting nothing.

In my situation, they buy PDP from Aon with some of the HRA $$ and use part of the rest to buy Medigap from me. Anything left over that is not used to cover OOP expenses rolls over to 2015.

 

[vic120]

Well, you can do what you want, but I am using this info to write 3 (hopefully more) Medigap plans on ATT retirees. Seems a better alternative than walking away and getting nothing.

In my situation, they buy PDP from Aon with some of the HRA $$ and use part of the rest to buy Medigap from me. Anything left over that is not used to cover OOP expenses rolls over to 2015.

Ok so it sounds like I am missing something

Based on this comment it seems if they buy the drug coverage from Aon
they then can use some of the $$ left over to buy INS from outside agent

That is more useful

Also are there other options they are allowed to spend money on
Like dental or life ins

 

[txagent41]

I've been down this road a number of times, make sure you have it in writing that all they have to do is buy their Part D through them to get the money.

I'd bet that if your client does so (just buys their Part D through Aon), and then buys their supplement from you, they'll never see that money. It seems illegal, but Aon knows how they're making their money, and have put controls in place to make sure you (and your client) can't get around them.

I had a half dozen last year in a similar situation end up 30-day'ing me, because even though they desperately wanted me as their agent, Aon wasn't going to give them their money unless they bought EVERYTHING through them.

 

[vic120]

Well 1 or 2 deals here or there don't bother me

The last thing I want is someone to report me if they don't get everything owed to them


If I run into more the one here and one there Ill look further into it

 

[somarco]

it seems if they buy the drug coverage from Aon
they then can use some of the $$ left over to buy INS from outside agent

Now you have got it.

make sure you have it in writing that all they have to do is buy their Part D through them to get the money.

It is.

The only reason I posted this is to let others know. Do with it what you wish. Or do nothing.

 

[TwoCents]

I am currently working with 3 AT&T retirees. As of 1/1/15 the current ATT retiree plan is no more. Instead, ATT will fund $2700 (double for married couples) via an HRA and turn you loose in the market.

But ............

You have to buy your coverage through Aon to get the $2700.

But .................

You don't have to buy ALL your Medicare coverage. You can just buy a PDP via Aon and still get the $2700.

Or you can buy PDP, Medigap or MAPD.

The key is the ATT retiree doesn't have to spend all their money on Aon peddled products. Any unused HRA funds at the end of the year roll over to the next.

Carry on.

Check out myretireehealthexchange dot com for more info and FAQs.

 

[kstein]

The hra will pay coo pays and deductible and donut hole xpenses also. Depending on the situation they may have over the amount in reimbursable expenses. This is a great way to still work with these clients! I did some for IBM Last year

 

[Nikita]

Now you have got it.





It is.

The only reason I posted this is to let others know. Do with it what you wish. Or do nothing.

Any suggestions on how to find these people?