Because of the baby boom, a lot of employees are currently entering retirement. What does this mean for employers? Furthermore, what does it mean for employees? Well, companies that offer retiree health insurance face a dilemma. Fortunately, there are some great flexible group retiree health insurance options. These solutions can help mitigate employer risk while also offering up comprehensive coverage for retirees.So how do retiree health coverage companies work? Well, they help to reduce the medical inflation that puts pressure on retirees. They provide solutions that can help both employers and employees. But how is it done? Well, a good group retiree insurance plan will often integrate with Medicare. The use of Medicare allows companies to take advantage of Medicare’s coverage and also its cost-containment. Furthermore, most group retiree plan companies will separate the active employee medical plan and the retiree plan, as the different groups have different needs which require divergent coverage. This will also allow both plans to be more efficient in terms of their coverage and is especially effective for retirees who have varying medical needs with aging. A good group retiree insurance plan will help to fulfill all obligation to retirees and provide comprehensive coverage that will alleviate any worries associated with retiring.These insurance plans will help aid those in retirement by paying Medicare-eligible deductibles, co-payments and medical expenses that Medicare doesn’t include. This will help the burden often associated with entering retirement by lowering costs. Retiree health insurance companies should be able to provide a lot of options and features when it comes to different plans. Some of these offerings should include the availability to support different group sizes. Depending on the size of the group, the retiree health insurance plan company should be able to accomodate for and customize a plan for your organization. Furthermore, the spouses of retirees must be considered, for those entitled to Medicare and the coverage will be guaranteed.A group retiree health company should also help control overall costs associated with the plan. This can often be accomplished by dividing plans into the categories of voluntary and non-contributory. Further distinctions may be made that will help best accommodate coverage as well as control cost. Additionally, prescription drug plans may be accessed through separate providers. This will help to integrate billing features. Employers should be able to choose a unique and customized prescription drug plan that will help facilitate coverage for all retirees.This integration should also apply to Medicare. In this feature, Medicare will pay first and the group plan will pay after.There are a variety of companies you could choose from for your organization’s group retiree health plans and benefits. But, none stand up to Benistar, the industry standard in retiree benefits and group prescription drug plans. Benistar is the best option for fulfilling an obligation to retired employees and making everyone happy, employer and retiree alike.
If you are retired you have probably at least heard of a group health plan. But what are the ins and outs of the group retiree health plan? Well, the answer is somewhat complex. If you are retired and have Medicare and a group health plan from your employer, Medicare pays first for your medical… Continue Reading The Ins and Outs of a Group Medical Plan: For Retirees
According to US News & World Report¹, Social Security payments will increase by 8.7% in 2023, the biggest Social Security cost-of-living adjustment in 40 years¹. Medicare Part B premiums will decline¹. The earnings subject to the Social Security tax will climb to $160,200¹. (1) Social Security Changes Coming in 2023 – US News & World… Continue Reading Social Security Changes in 2023
As you approach the age of 65 or have a qualifying disability, you will need to make a decision about your healthcare coverage. Medicare Advantage plans are a popular option for many people, as they can provide comprehensive coverage for medical services, prescription drugs, and additional benefits. However, selecting the right plan can be challenging,… Continue Reading 10 Tips for Selecting a Medicare Advantage Plan
Benistar’s specialty lies in working with retiree medical and prescription drug plans. Here are some of Benistar’s resources: Benistar Blog WordPress Benistar FAQ https://www.linkedin.com/company/benistar-administrative-services-inc https://www.bbb.org/connecticut/business-reviews/retirement-planning-service/benistar-admin-services-inc-in-avon-ct-87114688 https://www.indeed.com/cmp/Benistar https://www.elon.edu/docs/e-web/bft/hr/uploads/retiredemployees/contactInformationForTheHartfordAndExpressScripts.pdf https://www.ziprecruiter.com/jobs/benistar-admin-services-inc-basi-a3b8f6a0 https://www.bloomberg.com/profiles/companies/6728444Z:US-benistar-admin-services-inc https://gethuman.com/phone-number/BENISTAR https://www.yelp.com/biz/benistar-avon http://www.whitepages.com/business/benistar-administrative-service-stamford-ct https://www.dice.com/company/RTX1a9634 https://www.alignable.com/saint-charles-il/benistar-ken-peterson https://www.facebook.com/BenistarInc https://twitter.com/benistarinc https://www.crunchbase.com/organization/benistar Benistar Youtube Who is eligible for Medicare? Benistar Reviews: Benistar reviews: why we have the highest customer and… Continue Reading Benistar Resources
NJ insurance regulators are in the midst of an investigation of “gun owner policies” that the NRA have promoted in the past. Their main claim is that they are not licensed by the state. The NJ Governor released a statement this week stating that the Department of Banking and Insurance is investigating the sale of… Continue Reading Regulations for New Jersey Insurance & NRA Policies
The tried and true adage might sound cliché, but it’s accurate: it’s never too late to get back in shape. Goals will vary widely for people over the age of 65; some seniors may be preparing for another half marathon while another will be preparing for physical therapy to be able to walk again. In… Continue Reading Staying Fit Past 65