Many small groups with under 20 employees do not realize they have a better option for their age 65 plus population. Seniors Choice is a premier Retiree program that allows a group to move their older population to a separate plan that:
An employer completes a master application and has the employee fill out a short application and include a copy of the Medicare card. If the group has a $500 deductible, the employer can offer a Medigap like plan that has a $500 deductible. For an enrollee that is turning age 65, the monthly rate for medical is $108.06. There is also a Part D drug plan that can be offered alongside the medical plan or as a stand alone plan. The rate is $61 monthly for the base plan.
* I recently had an employer mistakenly forget to pay his part d premiums and his drug plan was cancelled. We immediately set-up a Seniors Choice stand-alone drug plan and he had co-pays again!
A 65 yr old employee on a Blue Shield 500 Value plan is $492 monthly
In this example the employer would Save $3,875.28 a year
The Seniors Choice plan is much stronger than the 500 Value plan because it has Medicare behind it sharing the costs. The drug plan has no deductible and has immediate co-pays from day 1.