Today I met with a new client who brought in her friend who is on a retiree HMO plan. It appears that he is paying over $500/mo. for this plan which is under a carrier who offers a Medicare Advantage HMO. It also appears that if he switched to a Medicare Advantage HMO offered in his area that has a monthly premium of zero, any copays he may incur will be significantly less than the $500/mo. and copays that he is already incurring under his retiree plan. I suggested that he consider having his retiree health retirement benefit evaluated/compared to what he would be able to access in a Medicare Advantage plan offered in his area.
Sometimes it benefits the individual to stay with their retiree plan, other times they are paying more for less by staying on the retiree plan. If you know of someone in this position, suggest that they meet with a reputable insurance agent to review the options available in their region with the benefits offered by the retirement plan. Caution: if an individual disenrolls from their retiree plan, they can not re-enroll.