• Triton College Annuitants Association

    Health Issues & Insurance

    Click the link below to read the article about transitioning to Medicare, for those approaching 65.

     Medicare Article - Part 1 by Ken Piwower  Transitioning to Medicare: Part 1 - Medicare Sign-Up and Basics by Ken Piwower
     Transitioning to Medicare: Part 2 - Supplemental Plans by Ken Piwower  Transitioning to Medicare: Part 2 - Supplemental Plans by Ken Piwower

      State of Illinois Medicare Advantage Plan.

    If you are over sixty-five and have Medicare and choose the Medicare Advantage program the State of Illinois is offering, please remember that you no longer will use the Federal government's Medicare card, but instead use the one from the Medicare Advantage program being offered by the State. You will still pay the Medicare premium each month to the federal government. 

    Click this link for more info on the State's Medicare Advantage Plan, called TRAIL

    Click here for the link to the SUAA blog on the State's Medicare Advantage Program.

    Eleonore Weber
    Message from Eleonore Weber, Insurance Broker

    April 2015

    Dear TCAA Members:

    Recently, I had the opportunity to have a conversation with Linda Brookhart, Executive Director of the State Universities Annuitants Association.  We discussed the current College Insurance Program (CIP) Healthcare plan as well any anticipated changes going forward in 2016. Unfortunately, any changes requiring benefits and related costs for 2016 are still pending within the state.  The negotiated health insurance benefits are through AFSCME.  Their current contract ends on June 30, 2015. 

    Nonetheless, it is vital to understand the current facts pertaining to the subjects of Healthcare, related Benefits & Costs, Medicare and Long-Term Care options for TCAA members. Below briefly outlines these areas:

    CIP members Healthcare options fit into (3) three different categories:

    1. Members who are Medicare eligible at age 65 (those who have earned  40 quarter credits by 65)

    Enroll for your Medicare benefits within the allocated period of your 65th birthday, the CIP then is considered your supplement until end of the current calendar year.

    Open Enrollment for the following year commences October 7th to November 7th for an effective date for coverage on January 1st. Members have the option to select to enroll for the CIP Medicare Advantage program or a traditional Medicare supplement or another Medicare Advantage program.

    Currently, the law does not allow for re-entry into a CIP Health Insurance program after program exit.  However, there is a pending Senate Bill #1583 to change this law, it is currently in “placed on 3rd order reading” in the Senate but it then requires approval in the House.  Third reading in the Senate suggests that it will pass the Senate.  However, passing the House could be a hurdle since last year the bill was shelled - stripped of its content.

    2. Members considered “Non”  Medicare eligible for SS benefits (less than 40 quarter credits)

    Members have the same health coverage as state employees but must pay for the premium cost.

    Individuals missing full quarter credits can still earn credit during working years.

    3. Retired but not age 65

    These members have the same health coverage has state employees but must pay for the premium cost.

    Elect for an independent individual healthcare coverage.

    Healthcare Benefits and Costs:  

    My conversation with Linda indicates no decision to date however; the current movement is shifting healthcare benefits from a “Golden Cadillac” plan coverage which is the current CIP plan, to a “Bronze” designed plan. Therefore, one might suggest this means that members can anticipate greater exposure to “Co-Pays” and “Deductibles” as well as participating in higher premium shared costs.

    Overall, Linda mentioned that the “most healthy members are happy with the current CIP Medicare Advantage program, but not necessarily those who are sick”. She does not anticipate disclosure for new benefits and the related costs until well beyond May 31, 2015 perhaps into the fall season.   Due to how the law is written, Medicare Advantage might as to stay as is.  A watchful eye will be kept as the legislative session progresses.

    Medicare Supplement Options:

    As a CIP member, you may have several healthcare plan options depending on whether fully vested with full quarter credits with Social Security. See previous mentioned guideline. The CIP option is similar to Medicare’s Part C or referred to Medicare Advantage (MA); essentially, a MA plan can have comparable components of a HMO or PPO design, which is defined by a set network of providers, co-pays and deductibles.  Below is a basic definition of Medicare terms:

    Note:  co-pays and deductible may apply based selected healthcare plan

    Part A – Hospital and Inpatient care  

    Skilled Care – 20 to 100 days max dependable healthcare plan

    Part B – Doctor and Outpatient care

    Monthly premium of $147 in 2015

    Part C – Medicare Advantage – Combination of Part A, B and D – depending on the plan

    Part D – Prescription Plan

    Member fee for discounted Rx costs

    Call me for assistance in understanding your healthcare options,  how they fits with your health needs, especially turning 65 or determining switching from a CIP plan. Remember, the CIP current plan DOES NOT allow for a switch back to a CIP option, once electing a change.

    Medicare Supplement plan options and costs are very competitive – call today for pricing.

    Long-Term Care Insurance:

    What is LTC – Long-Term Care? It is the need for help with the most basic activities of daily living such as eating, bathing or just getting ready for your day. There are myths regarding LTC, and it best to understand how it works before a sudden event or a crisis.

    Myth # 1 “The government will take care of me”

    Medicare is for 65 and older and is not intended for debilitating disorders that result in the need to for true long-term care beyond 100 days.

    Medicaid care takes away choice.

    Medicaid does provide long-term care benefits, but you may have to spend down your savings and assets for eligibility.

    What happens to the remaining spouse

    Legacy for loved ones?

    Myth #2  “I’m already covered”

    LTC is not covered by employer’s Medical or Disability Insurance or CIP

    Medical insurance is designed for acute medical condition that you will recover – broken leg, pneumonia.

    Disability insurance is meant to replace the income you lose when cannot work due to illness or accident, without anything extra to pay for care needs and typically ends by age 65 or 67.

    Myth #3 “My children will take care of me”

    Here you do not have to worry about a cost, nor do you.

    Family network –spend over the world.

    Dual working parents-who gives up their job and income?

    What about the grandchildren care?

    Myth #4 LTC Insurance is too expensive.

    It can be designed to fit a budget; choose           

    Self-Funding

    Insured

    Combination -> Insured & Self-funding

    Call me to discuss all the various LTC options (traditional and non-traditional) available in the market place, discount are available too.

    In closing, I must stress the importance for TCAA members to aggressively understand and be vigilant about any possible changes to your existing healthcare plan; what are the financial ramifications when there is a plan shifts from a Gold Cadillac plan to Bronze?  Therefore, be aware of the possible healthcare changes in the coming months, and how the fluctuations affect your future healthcare needs and income.

    Thank you for the time and consideration. Be mindful to develop a plan and reap the benefits.

    Best wishes,

    Eleonore Weber,

      Your Life Security.

    Licensed Insurance Broker - Disability, Health, Life and Long-Term Care Insurance
    Mobile (312) 952-1706
    Web site: www.yourlifesecurity.com
    Email: eleonore.weber@yourlifesecurity.com

    “HELPING PEOPLE SECURE AND PRESERVE THEIR ASSETS AND FUTURE”

     

    MEDICARE PART B PREMIUMS
    The Center for Medicare & Medicaid Services has announced that Medicare Part B premiums in 2015 will be $104.90, and the Part B deductible will be $147. Part A Deductible is $1,216. Note that Part B premiums are on a sliding scale depending on income.

    Individuals who did not pay into social security or have less than 40 credits (formerly known as quarters) may receive Part A and B, but it is more expensive. Speak to your local Social Security Office.