Post-65 Retirees & Medicare

Many employers today face a struggle between the desire to offer medical benefits to their retirees vs. the cost of being able to do so and manage their budgets effectively.

The ICSO H&W is proud to have the services of Via Benefits (Division of Willis Towers Watson) to provide services to Post-65 retirees (and eligible spouses). This relationship gives our members access to a wide variety of plans in the Medicare marketplace.

What is it?

• For the Employer: A method to offer each retiree a specified amount of money to purchase their own, personal Medicare supplement policy, while controlling the costs for the employer
• For the Retiree: Access to the services of licensed benefit professionals who work individually with each retiree providing customized Medicare programs that best fit their needs.

What are the requirements?

• Eligible retirees and spouses must be Medicare enrolled and have attained the age of 65.

How does it work?

• Participating Employer selects a funding level for each of their retirees (see funding levels below).
• ICSO H&W notifies Via Benefits and employer funds are allocated into a Health Reimbursement Arrangement (HRA).
• The retiree has access to these funds to pay for Medicare Supplement premiums, prescriptions, copays, dental & vision costs, and other eligible out of pocket expenses.
• All retirees are provided with a detailed enrollment and funding guide from Via Benefits along with a letter template that ICSO H&W Participating Employers can send to their employees with notifications regarding the healthcare benefits.

What is the cost?

• Employers choose one of the following funding levels for their retirees and eligible spouses. Funding amounts can be reviewed and changed on an annual basis.

*HRA account administrative fee is in addition to HRA funding