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By Scott Culver
Communications Specialist
WEA Trust
April 2003
For many people, retirement means taking vacations, spending more time
with grandchildren, and enjoying activities you weren’t able to while
working.
Worrying about your health insurance doesn’t fit in that picture,
so here are some things you should know about your health coverage to
make the transition easier.
Medicare doesn’t pay for everything. Many people mistakenly
believe that once they turn 65, Medicare will pay for all their health
care. Truth is, once you turn 65 and retire, Medicare becomes the primary
payer of health benefits, which means Medicare first pays its portion
of your approved health costs. You are then responsible for costs that
Medicare does not cover, including prescription drugs. That’s why
having a health plan to fill the gaps in Medicare’s coverage is so
important.
If you’re currently covered by a WEA Trust health plan, you don’t
have to leave the plan when you retire. Unlike some other employer-based
health plans, the Trust lets its health plan members continue coverage
after they retire (after age 55) or become eligible for Medicare. Plan
members must pay the premiums, and to remain eligible, their former employer
must continue to carry Trust health coverage for active employees.
If you’re not covered by a Trust health plan, check with your district
about how long you can continue your health coverage when you retire.
The Trust offers an alternative plan: School district employees
should know about WEA-MedPlus, a Trust health plan designed for Medicare-eligible
retirees. WEA-MedPlus is a good option for people who want the Trust’s
quality group coverage and the possibility of lower monthly premiums (see
chart above for eligibility requirements). With WEA-MedPlus, you select
your prescription drug copayment – the higher the copayment, the
lower the premium.
The cost for WEA-MedPlus depends, in part, on where you live. Your premium
renewal rates will be adjusted on January 1 each year.
Once you leave your Trust group plan, you will not be able to rejoin. It’s vital to weigh your options carefully before enrolling in WEA-MedPlus or any other plan. To learn more about WEA-Med Plus, call (800) 279-4000.
Posted April 4, 2003