tag:blogger.com,1999:blog-8123419132697929931.post3994052248330599790..comments2023-11-01T06:58:44.005-07:00Comments on ibm medicare options: IBM Medicare www.extendhealth.com/ibm offerings and subsidy informationPlatohttp://www.blogger.com/profile/14060433813948859747noreply@blogger.comBlogger13125tag:blogger.com,1999:blog-8123419132697929931.post-28208319437159761062013-10-03T10:07:40.408-07:002013-10-03T10:07:40.408-07:00Plato, thank you for looking at your IBM retiremen...Plato, thank you for looking at your IBM retirement papers. You are right, this is an ethical issue, not a legal issue. The amount of money IBM saves by changing the survivor benefit is a pittance compared to the money IBM spends to buy startup companies or to pay executive bonuses, especially since people in my cohort and yours are now old and the additional actuarial cost of maintaining our survivor benefit would be much less than it was when we retired. <br /><br />FYI, I think ERISA means Employee Retirement Income Security Act.Anonymoushttps://www.blogger.com/profile/12338420787404980253noreply@blogger.comtag:blogger.com,1999:blog-8123419132697929931.post-1608660469909187062013-10-02T13:14:31.826-07:002013-10-02T13:14:31.826-07:00I just looked at my retirement papers. There is l...I just looked at my retirement papers. There is legalize about IBM having the right to amend, change, suspend, or terminate any benefit or other plan at any time. IBM was never legally obligated to provide retiree health insurance because it is not part of ERISA law (I don't know what ERISA stands for but it the government agency that stops companies from fooling with pensions). This is an ethical and moral issue. Not a legal issue. Platohttps://www.blogger.com/profile/14060433813948859747noreply@blogger.comtag:blogger.com,1999:blog-8123419132697929931.post-78786203859694130332013-10-02T13:02:10.660-07:002013-10-02T13:02:10.660-07:00My reply post was confusing regarding the subsidy ...My reply post was confusing regarding the subsidy benefit. I meant to say "it used to be" the spouse got the same subsidy as the retiree when the retiree died and they have now changed the rules. Sorry for the confusion.Platohttps://www.blogger.com/profile/14060433813948859747noreply@blogger.comtag:blogger.com,1999:blog-8123419132697929931.post-60987182007299106202013-10-02T12:48:32.296-07:002013-10-02T12:48:32.296-07:00Does anyone have the retirement papers stating exa...Does anyone have the retirement papers stating exactly how IBM described the spouse survivor benefit for health insurance? Our memories are all the same, but we need something on paper before writing to Rhee to complain.<br /><br />We all knew about the full employment "practice", but IBM was always very careful to state that it was not guaranteed in perpetuity.Anonymoushttps://www.blogger.com/profile/12338420787404980253noreply@blogger.comtag:blogger.com,1999:blog-8123419132697929931.post-16287015132412213362013-10-02T12:46:14.887-07:002013-10-02T12:46:14.887-07:00This comment has been removed by the author.Anonymoushttps://www.blogger.com/profile/12338420787404980253noreply@blogger.comtag:blogger.com,1999:blog-8123419132697929931.post-25745374861008608312013-10-02T11:33:32.412-07:002013-10-02T11:33:32.412-07:00Plato is correct about this shameful reduction in ...Plato is correct about this shameful reduction in our health insurance benefits. My cohort was promised an average of $3000 per person per year, including a spouse benefit with survivor privileges. Now IBM is saying it will only offer the full $3000 into an HRA if the retiree relinquishes the spouse survivor privilege. Otherwise, only $2374 will be deposited in the HRA.Anonymoushttps://www.blogger.com/profile/12338420787404980253noreply@blogger.comtag:blogger.com,1999:blog-8123419132697929931.post-47876472888770277302013-10-02T10:33:08.274-07:002013-10-02T10:33:08.274-07:00When did the mailing go out?. We are fulltime RVe...When did the mailing go out?. We are fulltime RVers and get mail every 2-3 weeks so maybe that's why I haven't gotten a Sept mailing.<br /><br />Also, your reply is a bit confusing. One sentence says "...and a reduction in the benefit". The next sentence says "there's no reduction in the subsidy" when the retiree dies. Are 'benefit' and 'subsidy' two different things?Richhttps://www.blogger.com/profile/09010428400775998896noreply@blogger.comtag:blogger.com,1999:blog-8123419132697929931.post-71184209695015925642013-10-01T02:49:53.521-07:002013-10-01T02:49:53.521-07:00First, I want to restate something from my earlier...First, I want to restate something from my earlier comment: “As “PLATO” has stated, it is very important to review plan details for ALL health insurance plans and not solely rely upon plan summaries or highlights.” And secondly, I agree with your comments about the additional [prescription] coverage benefit.<br /><br />With that said, the question is, is IBM/Extend Health counting the co-pay ONLY for the $100,000 additional [prescription] coverage benefit, or are they counting PLAN PAYMENT as well, which , as you know, is done in Medicare Prescription Plans (Part D), which would mean the $100,000 coverage benefit can be rather quickly reached.<br /><br />Of course the “devil is in the details.” This may be a “feel good” benefit for IBM with very limited, if any, practical benefit to IBM retirees. Obviously IBM has access to ALL prior benefit pay out information and thus on actuarial basis has been able to determine the financial exposure with offering this “benefit.”<br /><br />One another topic, I have, and will continue, to refer IBM retirees to your blog, especially now that you have broaden your blog out to a national focus and you identify NY or CT specific comments, a nice touch.Georgehttps://www.blogger.com/profile/04500004197977988138noreply@blogger.comtag:blogger.com,1999:blog-8123419132697929931.post-36648220623052681112013-10-01T02:25:48.108-07:002013-10-01T02:25:48.108-07:00Extend Health now has Medicare Supplement (Medigap...Extend Health now has Medicare Supplement (Medigap), Medicare Prescription Drug (Part D), and Medicare Advantage (Part C) plans loaded and available for review by Zip Code / county. As CMS now has 2014 plans loaded, INCLUDING Medicare Advantage plans with AND without a prescription benefit, you may want to review and compare your plan options/selection(s) at http://medicare.gov before making your selection(s) with Extend Health (to receive your IBM HRA subsidy). <br /><br />You do NOT have to be logged in, or even have an account or profile to review listed plans by Zip Code / county on the Extend Health Web site; although you will need to be logged in to save a plan in your cart. Also, an account or sign-in is not required to review/compare plans by Zip Code / county on the CMS Web site.<br /><br />As of a few minutes ago, dental and vision information was still a little sketchy on the IBM portion of the Extend Health Web site. Reminder, dental-only and vision-only plans are NOT Medicare plans and thus not CMS listed.Georgehttps://www.blogger.com/profile/04500004197977988138noreply@blogger.comtag:blogger.com,1999:blog-8123419132697929931.post-8675480437615243422013-10-01T02:11:25.374-07:002013-10-01T02:11:25.374-07:00Maybe I am missing something but it seems to me th...Maybe I am missing something but it seems to me this $100,000 offer is not much of an offer at all and more of an empty gesture. There is already catastrophic prescription drug coverage in part D. In 2013 once your out of pocket expense is $4750 (excluding premiums) your copay drops to 5% of the cost of the drug. That means your drugs would have to cost $1.9M for the year to hit the $100,000 out of pocket expense before you can get the benefit iBM is offering. Isn't that pretty far fetched? If the cap had been something like $25K it would be meaningful.Platohttps://www.blogger.com/profile/14060433813948859747noreply@blogger.comtag:blogger.com,1999:blog-8123419132697929931.post-18485330232339023772013-10-01T01:39:35.051-07:002013-10-01T01:39:35.051-07:00I agree. It is really important and a reduction i...I agree. It is really important and a reduction in the benefit. The non-IBM spouse currently gets the entire benefit when the retiree dies and there is no reduction in the subsidy during the retiree's life. Once again, shame on IBM executives for breaking promises made long ago as it is a pittance amount for their bottom line.Platohttps://www.blogger.com/profile/14060433813948859747noreply@blogger.comtag:blogger.com,1999:blog-8123419132697929931.post-58474785620929453532013-10-01T01:32:53.301-07:002013-10-01T01:32:53.301-07:00Dr. Kyu Rhee's, IBM Chief Health Director, Sep...Dr. Kyu Rhee's, IBM Chief Health Director, September 2013 letter to IBM retirees included information about “Additional [prescription] Coverage” stating:<br /><br />“To protect those with significant prescription drug costs, IBM is establishing a fund to provide assistance to help with co-pays if your total prescription drug costs exceed $100,000 in a given year. You can access this coverage through Extend Health if you need this support. More details will be available later this year.”<br /><br />As some of you with a Medicare Prescription Drug Pan (Part D) or other prescription insurance coverage know, when adding co-pays with plan payments, drug costs can quickly become a major expense. Will be very interesting to see how this “additional coverage” will be administered; thus I am looking forward to the opportunity to review the details of this new coverage when available.<br /><br />As “PLATO” has stated, it is very important to review plan details for ALL health insurance plans and not solely rely upon plan summaries or highlights.Georgehttps://www.blogger.com/profile/04500004197977988138noreply@blogger.comtag:blogger.com,1999:blog-8123419132697929931.post-56404881887693185762013-10-01T01:09:06.230-07:002013-10-01T01:09:06.230-07:00Very important information received from Dr. Kyu R...Very important information received from Dr. Kyu Rhee, IBM Chief Health Director with more detailed information about IBM's subsidy funding Health Reimbursement Arrangements (HRA) and your choices, including funding information for a surviving spouse/dependent(s) who enrolls in the Extend Health [Private] Medicare Exchange.<br /><br />Also, an IBM retiree now can choose to add subsidized medical coverage for their eligible spouse/dependent(s) IN THE EVENT OF THE RETIREE'S DEATH.<br /><br />Every IBM retiree must fill out a form (to be mailed in early November) - whether or not they have a spouse/dependent(s) - indicating their election on surviving spouse/dependent(s) benefits in the event of the retiree's death. Similar to surviving spouse/dependent pension payment election, the surviving spouse/dependent(s) HRA-funding benefit decision is final and irrevocable.<br /><br />I strongly encourage everyone to promptly read the September 2013 mailing upon receipt. Georgehttps://www.blogger.com/profile/04500004197977988138noreply@blogger.com