seniors choice group retiree
Post on 10-Jul-2015
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MARK LANE
GARITYADVANTAGE AGENCIES
Seniors Choice Group Retiree
About Us
National Field Marketing Organization
Senior Market
Group Retiree Medical
Medicare AdvantageMedicare SupplementPrescription DrugHospital Indemnity
Final ExpenseSenior DentalCritical IllnessSTC/LTC
Our Value
Exceptional ServiceComprehensive TrainingMarketing SupportLead Programs
Market Expertise
We’ll show you the path to your success!
Merchants Benefit Administrators, Inc. (MBA)
Third Party Administrator, Scottsdale, AZ
15+ years administering Seniors Choice
Trust is over 20 years old
Guarantee Trust Life (GTL)
Mutual Reserve Insurance Co
Founded in 1936
Health
AccidentLifeSpecial Risk
National Guardian Life
Groups 250 + or…
Medco
Pharmacy Benefit Manager
Seniors ChoiceGroup Retiree Medical
What is it?
Group Medical Plan
Retirees 65+ Active Employees* 65+
Medicare Parts A & B must be active
Medicare must be primary
Why Seniors Choice?
#1 Employer concern is rising employee benefit cost
Finding innovative ways to control those costs gives you an edge in getting (or keeping) their group business.
Who’s it for??
Tax Equity & Fiscal Responsibility Act of 1982
TEFRA
20 + = Medicare Secondary
1 - 19 = Medicare Primary
Non - TEFRA
Large Companies
At least 20 + Employees
Seniors Choice is a Group Retiree Plan
Group Medical and Rx coverage
Retirees only
Contributory or non-contributory
Creditable Part D Plan
Brand Name Coverage through the Gap
For small companiesFewer than 20 employees
or just 1
Seniors Choice is a Group Medical Plan for working, benefit eligible employees as
well as retirees
Must be 65+
Must have Medicare Part A & Part B
Available down to 1 life
Why is carving out Seniors a good idea?
Reduces the average age of the group =Lower Group Rates
Lower Rates =
Employer Contributions are still deductible as Employee Benefit expenses
Improves coverage and lowers costs for 65+
Reduces out of pocket costs vs most benefit plan designs
Seniors Choice Features
Multiple Deductible Options
$0 deductible - $4,000
No Medical Questions
See any Medicare Provider
Extends Hospitalization Coverage
365 Days beyond Part A
No Primary Care Physician
No Referrals Necessary
Creditable Part D Coverage
Foreign Travel Emergency Care
1st 60 days outside the USA
$50,000 Lifetime max
EligibilityMust be sponsored by an employer group
Non-Profits
May be sold to: ProprietorshipsPartnershipsLLC’sCorporationsUnionsGovernment Entities
8% years 1 & 2
7% years 3+
Commissions not payable on Administration Fees
Questions??
Thank You!
GARITYADVANTAGE AGENCIES
The Path to Your Success!
www.garityadvantage.com
1-800-234-9488
mlane@garityadvantage.com
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