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New health benefits available to retirees
Rising healthcare costs are a major concern for all of us, but retirees have been hit the hardest. Healthcare inflation has left everyone paying more for doctor visits, hospital stays, and prescription drugs, but for retirees on a fixed income, every extra dollar hurts.
In addition, retirees eligible for a subsidy provided through employer contributions have seen that subsidy decrease -- leaving our retirees responsible for a larger portion of the self-payment required for coverage.
Yet, while we are faced with very real challenges on the healthcare front, the CMTA-IAM Joint Retiree Health and Welfare Trust remains committed to providing retired members with access to affordable, quality healthcare coverage. To do this, the Trustees are pleased to announce that more healthcare plan options will be available effective March 1, 2008.
The plans can protect against the high costs of treating major illness or injury, and cover many day-to-day healthcare needs. This gives our retirees greater flexibility in matching a medical plan to their personal health situations at a more affordable price.
The trustees have developed a new Benefits Guide, which will be in the mail shortly. It describes all of the health plan options, eligibility for these plans, and the steps to enroll in a plan.
What’s new for 2008
The trustees are introducing the following changes to the plans, effective March 1, 2008:
For Non-Medicare Retirees -- A new lower-cost HMO option, provided through UHC PacifiCare is now available. [Note: PacifiCare was recently acquired by UnitedHealthcare and is now called UHC PacifiCare.] A new lower cost Kaiser option is also now available. These plans are available to California residents only.
For Medicare Retirees -- We are adding two lower cost HMO plans (provided through UHC PacifiCare) and two Private Fee-for-Service plans (provided through Aetna). Also, we are adding two prescription drug only plans (provided through UHC PacifiCare).
Prescription Drug Only plans for Medicare Retirees -- While the Trust Fund-sponsored medical plans provide comprehensive, Medicare-creditable prescription drug coverage, the Trust Fund is also please to offer retired members a choice of stand-alone Medicare prescription drug plans. These plans are designed for individuals who are already covered or intend to seek coverage under a medical plan outside the Trust Fund (such as an individual plan or a plan through a spouse).
Open Enrollment Period
Because the Trust Fund is making changes to the plans offered, we are holding a longer-than usual open enrollment period for all eligible retirees (both Medicare and Non-Medicare). The open enrollment period runs from February through May 31, 2008.
If you wish to change your plan during this Special Open Enrollment period, contact the Trust Fund Office at 800-662-0738. Any change you request during this enrollment period is effective the month following receipt of complete enrollment forms (but not before March 1, 2008 coverage).
To read more, download the current issue of the Sparkplug.
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