IBM for one pushed the added benefits you get from the 2023 Advantsge plans. But it seems impossible to find the specific good deals negotiated. Something specific like “copay reduced from x to y”. I’m sure is is closely guarded secret and no different from what Shell oil negotiated. But the generalities and overlapping marketing hype make on wonder!
"Employers and insurers negotiate behind closed doors to design a private Medicare Advantage plan available only to retirees from that employer. Then, just as it does for private individuals choosing a Medicare Advantage plan, the federal government pays the insurer a set amount for each person in the plan.
Experts say this arrangement often saves the employer money because the federal payment reduces the employer’s share of the cost of coverage. But retirees’ health care may be disrupted if the plan no longer includes their doctors and hospitals or the insurer has new requirements or charges new fees to access benefits.
Scores of private and public employers offer Medicare Advantage plans to their retirees. Yet the details — and the costs to taxpayers — are largely hidden. Because the federal Centers for Medicare & Medicaid Services is not a party to the negotiations among insurers and employers, the agency said it does not have details about how many or which employers are using this strategy or the cost to the government for each retiree group."
Looks like private and public employers figured out a way to offload costs of their retiree medical plans to the US taxpayers.
This is very timely. United Healthcare is currently trying to create a Medicare Advantage Plan for all retired employees of the state. ARBenefits is "automatically" taking any retiree in the retirement system out of their Medicare Primary and placing them in United Health Medicare Advantage program. I do not think this is legal and I have sent a written complaint to Medicare. I will not allow them to do this to me.
Thank you for staying on this story! I recently retired and like antidnc below, I discovered that my university only offers retirees Medicare Advantage plans (United Healthcare in fact) as the health insurance benefit. Someone needs to look into the deals that MA providers are able to make to these large employers to encourage them to only offer MA. I assume it's because they can offer pension plans lower premiums, the same reason they can offer gym memberships and other "amenities" since their profits are so high. Unfortunately, opting for traditional Medicare means we'd still be at the mercy of the for-profits if we want Medigap coverage.
I spoke to an IBM retiree who stands to lose access to $20,000 in his HRA if he doesn't switch from his current Medigap plan to one of the two "new" Medicare Advantage plans.
"We are excited to welcome you to our new retiree benefit offerings – designed exclusively for IBM retiree benefit participants eligible for Medicare. You will have a choice of two IBM-sponsored Group Medicare Advantage Plans– the Enhanced Plan and the Essential Plan. These plan options provide broad protection and unique features not available to you today through individual plans. You may also remain enrolled in your current plans, but will no longer receive IBM’s subsidy."
IBM for one pushed the added benefits you get from the 2023 Advantsge plans. But it seems impossible to find the specific good deals negotiated. Something specific like “copay reduced from x to y”. I’m sure is is closely guarded secret and no different from what Shell oil negotiated. But the generalities and overlapping marketing hype make on wonder!
(Ibm Medicare advantage qualified)
Well, well, well...
https://www.dallasnews.com/business/health-care/2022/03/07/more-employers-are-moving-retirees-to-medicare-advantage-as-they-seek-to-reduce-costs/
"Employers and insurers negotiate behind closed doors to design a private Medicare Advantage plan available only to retirees from that employer. Then, just as it does for private individuals choosing a Medicare Advantage plan, the federal government pays the insurer a set amount for each person in the plan.
Experts say this arrangement often saves the employer money because the federal payment reduces the employer’s share of the cost of coverage. But retirees’ health care may be disrupted if the plan no longer includes their doctors and hospitals or the insurer has new requirements or charges new fees to access benefits.
Scores of private and public employers offer Medicare Advantage plans to their retirees. Yet the details — and the costs to taxpayers — are largely hidden. Because the federal Centers for Medicare & Medicaid Services is not a party to the negotiations among insurers and employers, the agency said it does not have details about how many or which employers are using this strategy or the cost to the government for each retiree group."
Looks like private and public employers figured out a way to offload costs of their retiree medical plans to the US taxpayers.
This is very timely. United Healthcare is currently trying to create a Medicare Advantage Plan for all retired employees of the state. ARBenefits is "automatically" taking any retiree in the retirement system out of their Medicare Primary and placing them in United Health Medicare Advantage program. I do not think this is legal and I have sent a written complaint to Medicare. I will not allow them to do this to me.
Mr. Potter, please write about how retirees are being coerced into Medicare Advantage plans.
Yes, Arkansas state retirees are being coerced, that is exactly so. I will not let them coerce me, but it is heavy handed.
Thank you for staying on this story! I recently retired and like antidnc below, I discovered that my university only offers retirees Medicare Advantage plans (United Healthcare in fact) as the health insurance benefit. Someone needs to look into the deals that MA providers are able to make to these large employers to encourage them to only offer MA. I assume it's because they can offer pension plans lower premiums, the same reason they can offer gym memberships and other "amenities" since their profits are so high. Unfortunately, opting for traditional Medicare means we'd still be at the mercy of the for-profits if we want Medigap coverage.
I spoke to an IBM retiree who stands to lose access to $20,000 in his HRA if he doesn't switch from his current Medigap plan to one of the two "new" Medicare Advantage plans.
This is sickening!
https://retiree.uhc.com/ibm
"We are excited to welcome you to our new retiree benefit offerings – designed exclusively for IBM retiree benefit participants eligible for Medicare. You will have a choice of two IBM-sponsored Group Medicare Advantage Plans– the Enhanced Plan and the Essential Plan. These plan options provide broad protection and unique features not available to you today through individual plans. You may also remain enrolled in your current plans, but will no longer receive IBM’s subsidy."