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Executive Compensation Plans, Retiree Benefits Services, Long Term Care Insurance, Estate
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Rx Coverage
The introduction of Medicare Part D will have a big impact on employer’s prescription coverage for retirees. Employers that provide prescription drug benefit sin the past or would like to offer prescription coverage to their retiree will have to take into consideration Medicare benefits and determine which approach they would like to implement.
There are few options for employers:
Drop coverage and enroll Retirees Medicare Part D. Employers could contribute with part or with the entire Medicare Part D premium.
Continue coverage and get a subsidy if plan is actuarially equivalent to Part D
Provide a wrap-around product that will supplement Medicare Part D benefits
We can provide the required analysis to determine what option is the most appropriate for your organization, develop custom designed wrap-around products, if necessary, and implement the complete solution. Our ability to design custom solutions is especially suited for wrapping supplemental, employer paid coverage around the new Medicare Part D benefit.
