The major questions so far seem to deal with the HRA.
Health Reimbursement Accounts (HRA) Questions:
Homework:
- We need to find and understand what are the IRS/government
regulations concerning HRAs?
- Can IBM legally dictate that we have to purchase medical
insurance through the company that “administers” the HRA in
order for us to be eligible for reimbursement from a HRA?
Questions for IBM (can ask EH but I think only an IBM answer
can be believed [if in writing]):
- IF I purchase only health insurance through ExtendHealth but
do not purchase drug, vision, hearing and/or dental insurance
through ExtendHealth, are any or all my Medicare, drug, vision,
hearing or dental expenses eligible for reimbursement from my HRA?
- If my spouse has their own health insurance, can they
purchase drug, vision, hearing and/or dental insurance through
ExtendHealth?
- If my spouse does not purchase any health insurance through
ExtendHealth or only certain drug, vision, hearing and/or dental
insurance through them, are any or all my spouse's Medicare,
medical, drug, vision, hearing or dental expenses eligible for
reimbursement from my HRA?
- In the event of my death, what percentage of the annual IBM
contribution to my HRA would continue for my spouse's HRA, and what
are the minimum requirements for my spouse to receive disbursements
from that HRA?
To: ibmretireeissues@... From: elueke@... Date: Sat, 21 Sep 2013 22:42:01 -0500 Subject: Re: [ibmretireeissues] ExtendHealth May Be Limiting Our Choices While Not Adding Any Value!
?
I am not surprised that there is no value add from Extend Health.?
Use them to get the HRA, and what about vision and dental
insurance?? Might that be a reason to use Extend Health??
I'm going to their introductory meeting on Monday, and am going to
take along a list of questions, so am willing to ask, provided of
course I get the chance -!
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?
If I interpret the information that has been
provided so far,
ExtendHealth is nothing more than a medical insurance
salesman and an
administrator of the IBM funded HRAs. They may be an
“agent of
record” for our health insurance but, I think, that only
gives them
access to our information but does not carry any real
fiduciary
responsibility. My opinion is: Have no illusions!
ExtendHealth works for IBM and is
focused on their own profits, not on helping us.
The 2014 health insurance information is not up on the
ExtendHealth website
yet, but I was interested in what they offered for 2013. Disclaimer:
Past
performance is not a guarantee of future performance.
I went to medicare.gov and also anonymously to the
ExtendHealth
website and this is what I found. The Medicare website
lists 52
approved Medicare Advantage plans (I did not consider
Medigap plans
because the government does not list individual plans,
just
categories) for the Denver, CO area while ExtendHealth
only lists 27
of these same plans for the same area. A further
breakout is in the
table below:
|
2013 POLICY
|
Medicare.gov
|
ExtendHealth
|
|
|
Drug Only
|
24
|
15
|
62.50%
|
|
Health & Drug
|
20
|
9
|
45.00%
|
|
Health Only
|
8
|
3
|
37.50%
|
|
|
52
|
27
|
51.90%
|
There is no apparent pattern in the plans ExtendHealth
chose not
to carry. They is no pattern by either type, cost or
rating. Also,
there is absolutely no difference in the cost of these
plans between
the government and ExtendHealth websites, so ExtendHealth
adds no
value by negotiating prices. My personal guess is that the
plans
excluded did not offer to pay ExtendHealth enough
commission, but
that is only my personal opinion.
While that is a prerogative of an independent company,
it is not in our best interest! IBM has chosen to force
retirees into purchasing their individual
health insurance plans through ExtendHealth by “Please
note: You must enroll in a medical plan through Extend
Health to
receive an HRA contribution.”
[IBM ExtendHealth Announcement Newsletter, page 2] If
this pattern continues into the offerings for 2014, this
is
definitely one of the issues I intend to raise with IBM
directly.
(Yea, I know, lots of luck!)
|
