Tuesday, October 22, 2019

IBM Medicare Via Benefits Extend Health IBM Life Planning Benefit Terminates November 2019

This post has nothing to do with Medicare but I am posting it in case people don't read a recent letter IBM sent out about benefits dated October 11, 2019. 

There was (notice I say "was") a retiree benefit available to some "older" retirees called "Life Planning".  It was a modest program implemented to mostly encourage employees and retirees to stay healthy and also to do financial planning by reimbursing up to $250/year for service fees related to those activities. The recipient had to file a claim every year to get the money.

Buried on page 5 of the October Legal Notice mailing  which is mostly about legal notices related to health benefits is a statement of the Life Planning Program termination.  When they say terminate, they mean terminate!  If you don't file a claim by the end of November 2019 for 2019, you cannot get the $250 benefit.  It is terminated as of January 1, 2020.

It's not a big deal, but a little unnerving because IBM can do the same with the HRA program.  Take full advantage of your HRA money while you can!