Prescription Benefit Plans
Prescription Benefit Plans
Our retiree prescription drug plans are Employer Group Waiver Plans (EGWP) established for groups under Medicare Part D. Our partners contract with the Centers for Medicaid and Medicare Services (CMS) to serve as a Medicare Part D Plan Sponsor. The plan manages compliance with CMS regulations regarding Part D plans.
Many employers and organizations providing retiree drug coverage are filing for the Retiree Drug Subsidy (RDS). Our low premium rates include the government subsidy. There is no additional subsidy filing required, saving you administrative costs associated with RDS compliance. The average subsidy received through an EGWP plan with a non-Part D wrap greatly exceeds the RDS program subsidy. Benistar EGWP plans offer the following advantages for employers and their retirees:
Some Benefits of Our Prescription Benefit Plans
Nationwide Plan Availability
Flexibility in Plan Design
Flat co-pays or coinsurance
Fill the Medicare coverage gap (“donut hole”)
Choose from our standard plans or customize a plan with an underwriting application.
With the addition of a non-Part D wrap product, groups can take full advantage of the 50% brand-name drug discount provided by the Coverage Gap Discount Program.
Fully Insured — cap your retiree health liability with an insured plan.
Our customer service team is focused explicitly on administering retiree medical and prescription drug plans. We’ll assist your retirees without rushing them off the phone and make them feel comfortable.
