Retiree Health Reimbursement Account HRA

[Lon]

I just received notice from the company that I retired from that after December 31st 2015 they will no longer provide the Medicare Supplement and Drug Plan that I had been covered under since 1999. In stead they will provide a HRA account in my name and deposit a dollar amount each year which I can use to pay any premiums or co-pays I must talk with a provided consultant and choose from one of the many plans before the end of the year.

I had no problem with the way things were running before, but the company says that I can now purchase a supplement at a better price than what they had to pay in the past. I felt that my copays and drug costs for 2014 & 2015 were reasonable and I just hope it will remain that way under this new system.

 

[Don M.]

I just received notice from the company that I retired from that after December 31st 2015 they will no longer provide the Medicare Supplement and Drug Plan that I had been covered under since 1999. In stead they will provide a HRA account in my name and deposit a dollar amount each year which I can use to pay any premiums or co-pays I must talk with a provided consultant and choose from one of the many plans before the end of the year.

I had no problem with the way things were running before, but the company says that I can now purchase a supplement at a better price than what they had to pay in the past. I felt that my copays and drug costs for 2014 & 2015 were reasonable and I just hope it will remain that way under this new system.

We were switched to a company sponsored HRA 2 years ago. So far, it seems to be working OK. The selection of insurance options is satisfactory, and the HRA is large enough to cover the premiums, with enough left over for a moderate amount of co-pays. We have received notice about some of the insurance premiums going up for 2016....it will be interesting to see if the HRA amount is also raised.