Choosing medical and prescription coverage for retired state employees can be quite complicated. Several years back, the state of Illinois changed how they would handle medical insurance once their retirees became eligible for Medicare. Prior to the change, the state of Illinois was the retirees’ secondary coverage to Medicare. Now, retirees need to enroll in a State-sponsored Medicare Advantage plan. Since these plans are a type of Medicare, individuals must continue to pay their Medicare premiums, which helps to subsidize the Medicare Advantage coverage.
The State-sponsored Medicare Advantage plans are similar to regular Medicare Advantage plans except that they can offer extra benefits to their members. The State-sponsored plan works for both the retiree and their dependent/survivor.
As a part of our Benefits Specialist Beth Monnat’s work, we offer meetings with state retirees and/or dependents or survivors who are eligible for the State-sponsored Medicare Advantage plans. During a Medicare Review appointment, we can help with the following:
• Compare the three options of the State-sponsored Medicare Advantage plans.
• Explain the differences and costs of coverage (for example, an HMO vs. a PPO).
• Compare prescription drug plans to make sure the medications you take are covered under the plan you choose.
• Compare the cost of a Medicare Supplement with a Medicare Part D plan for retirees who may not want the State-sponsored Medicare Advantage plan.
• Enrollment into the correct plan(s) during the state’s open enrollment period, which is October 15 – November 15 of each year.
If you would like help with any of the issues above, please call 217-726-9200 to make an appointment with Beth. She will be more than happy to help answer your questions and make sure you choose the best coverage/plan for your situation.