For almost 40 years, Benistar has been a nationwide leader in providing retirees with health and prescription drug insurance. Focusing on the design, installation, and administration of medical benefits for the post-65 retiree group, Benistar works with brokers and consultants to provide the most comprehensive and organized nationwide network. Companies and organizations, both public and privately held, have been successfully providing their retirees with competitive medical benefits since 1978. Benistar is proud of its proven track record in customer satisfaction.
From labor unions, to city and county government entities, and religious and educational organizations, Benistar provides retirees of these groups with retirement plans throughout the United States. Over $100 million in premiums is administered to more than 400 plan sponsors annually. Solutions for group retiree medical concerns such as the high cost of health care are provided in the many plans offered. Medicare Parts A and B contain many uncovered costs. There are many plans available to help the retiree pay for these costs. The plans offered provide access to all providers nationwide who use Medicare. Retirees are given the freedom to choose their own doctors. They are not limited to a local area for coverage. They may also choose the specialist they wish without a doctor’s referral.
Even if pre-existing conditions are present, Benistar guarantees policy issuance. Coverage is also included for spouses that are 65 and over and enrolled in Medicare Parts A & B. Coverage also follows the retiree if they happen to have multiple residences or make a move after retirement.
All plans are competitive to other plans and provide fully-insured rates which limits the financial risk. Since claims are process through Medicare’s crossover process, costs are cut and there are no claim forms to fill out. All of the common problems facing the retiree have been well thought out. Employer Group Waiver Plans (EGWP) are our solution to the retiree prescription drug plan. This plan was established for groups that fall under Medicare Part D (prescription drugs). The Centers for Medicaid and Medicare Services (CMS) partners with our group to serve as a Medicare Part D Plan Sponsor. All of the plans comply with CMS rules and regulations in regards to Medicare Part D.
From labor unions, to city and county government entities, and religious and educational organizations, Benistar provides retirees of these groups with retirement plans throughout the United States. Over $100 million in premiums is administered to more than 400 plan sponsors annually. Solutions for group retiree medical concerns such as the high cost of health care are provided in the many plans offered. Medicare Parts A and B contain many uncovered costs. There are many plans available to help the retiree pay for these costs. The plans offered provide access to all providers nationwide who use Medicare. Retirees are given the freedom to choose their own doctors. They are not limited to a local area for coverage. They may also choose the specialist they wish without a doctor’s referral.
Even if pre-existing conditions are present, Benistar guarantees policy issuance. Coverage is also included for spouses that are 65 and over and enrolled in Medicare Parts A & B. Coverage also follows the retiree if they happen to have multiple residences or make a move after retirement.
All plans are competitive to other plans and provide fully-insured rates which limits the financial risk. Since claims are process through Medicare’s crossover process, costs are cut and there are no claim forms to fill out. All of the common problems facing the retiree have been well thought out. Employer Group Waiver Plans (EGWP) are our solution to the retiree prescription drug plan. This plan was established for groups that fall under Medicare Part D (prescription drugs). The Centers for Medicaid and Medicare Services (CMS) partners with our group to serve as a Medicare Part D Plan Sponsor. All of the plans comply with CMS rules and regulations in regards to Medicare Part D.
Some of the features provided under EGWP include:
Donut Hole – The plan designs are crafted so that the Medicare Part D Coverage Gap are filled. These gaps are commonly known as the “donut hole.” These plans cover generic and brand named drugs in the coverage gap saving the plan enrollee money. The type of plan chosen depends on the type of drugs covered, generic or brand name drugs. All drugs that fall under Medicare Part D are covered by the Medicare National Preferred Formulary. There is no need to worry that a prescribed drug will not be covered as long as it is covered under Medicare Part D. With over 56,000 participating pharmacies nationwide, retirees will never be far from their prescription drugs. In fact, the closest 10 locations are listed on each retiree’s prescription ID card for convenience. For added convenience, retirees can receive up to a 90-day supply of their prescription medications through the convenient mail order option. This option also typically comes with lower copays than a regular retail provider.
Since the premium plan rates include the Medicare Part D subsidy, many clients save money. Industry studies have reported that the average subsidy under the EGWP plans are higher than an average subsidy received by a client who files for the RDS subsidy themselves. Not only is the client saving money, but it is also a more convenient way to save time and money.
Working with the employer is also a top concern for Benistar. The professional benefit consulting brokers are provided with resources to allow them to focus specifically on the post-65 group of retirees and their medical and prescription drug plans. Benistar works with their brokers to analyze all retiree programs, consult with the employer on the current retirement program, and identify the best strategy to cut costs and improve the current program. By providing an administrative team that handles the ongoing administration and implementation of all program plans, our brokers are able to successfully partner with plan sponsors to provide effective communication between the retirees and plan sponsors. Many varied billing possibilities are offered to employers: list billing the group, billing the retiree directly, or splitting the bill between the group and retirees as needed.
Donut Hole – The plan designs are crafted so that the Medicare Part D Coverage Gap are filled. These gaps are commonly known as the “donut hole.” These plans cover generic and brand named drugs in the coverage gap saving the plan enrollee money. The type of plan chosen depends on the type of drugs covered, generic or brand name drugs. All drugs that fall under Medicare Part D are covered by the Medicare National Preferred Formulary. There is no need to worry that a prescribed drug will not be covered as long as it is covered under Medicare Part D. With over 56,000 participating pharmacies nationwide, retirees will never be far from their prescription drugs. In fact, the closest 10 locations are listed on each retiree’s prescription ID card for convenience. For added convenience, retirees can receive up to a 90-day supply of their prescription medications through the convenient mail order option. This option also typically comes with lower copays than a regular retail provider.
Since the premium plan rates include the Medicare Part D subsidy, many clients save money. Industry studies have reported that the average subsidy under the EGWP plans are higher than an average subsidy received by a client who files for the RDS subsidy themselves. Not only is the client saving money, but it is also a more convenient way to save time and money.
Working with the employer is also a top concern for Benistar. The professional benefit consulting brokers are provided with resources to allow them to focus specifically on the post-65 group of retirees and their medical and prescription drug plans. Benistar works with their brokers to analyze all retiree programs, consult with the employer on the current retirement program, and identify the best strategy to cut costs and improve the current program. By providing an administrative team that handles the ongoing administration and implementation of all program plans, our brokers are able to successfully partner with plan sponsors to provide effective communication between the retirees and plan sponsors. Many varied billing possibilities are offered to employers: list billing the group, billing the retiree directly, or splitting the bill between the group and retirees as needed.
Benistar’s customer service team is trained to directly work closely with seniors and their unique needs. All of our customer service agents are trained in Medicare products and take pride in ensuring that all retirees are comfortable with any plan and have all questions or concerns resolved. Retirees are given the time needed on the phone and are not rushed off, but rather consulted until the issue is resolved.Prescription drugs can be overwhelming to the retiree. Benistar provides the Benistar Retiree Rx Benefit Resource Center for all prescription drug management options. There are a number of tools that assist the plan members in the management of their prescription drug benefits with Express Scripts. Some of the convenient and available functions are:
Retirees can view and refill their prescription drug orders. They can also have Express Scripts contact their physician for any medications that have no remaining refills. Claims, balances, and drug history can also be viewed in one convenient area. If a retiree needs to locate a pharmacy, the Resource Center can quickly and easily assist. A price list of drugs at different pharmacy locations along with home delivery prices allow the customer the power to price drugs at different locations. Pricing can also be seen during different states of coverage such as initial coverage, gap or donut hole, and catastrophic coverage. Generic equivalents are most often the cost effective way to purchase commonly used drugs. Express Scripts will contact a member’s physician if the member wishes to switch to a generic form of a currently prescribed drug. If you are an employer or a fast approaching retiree in need of medical or prescription drug insurance, Benistar has brokers available to answer any questions you may have.
Retirees can view and refill their prescription drug orders. They can also have Express Scripts contact their physician for any medications that have no remaining refills. Claims, balances, and drug history can also be viewed in one convenient area. If a retiree needs to locate a pharmacy, the Resource Center can quickly and easily assist. A price list of drugs at different pharmacy locations along with home delivery prices allow the customer the power to price drugs at different locations. Pricing can also be seen during different states of coverage such as initial coverage, gap or donut hole, and catastrophic coverage. Generic equivalents are most often the cost effective way to purchase commonly used drugs. Express Scripts will contact a member’s physician if the member wishes to switch to a generic form of a currently prescribed drug. If you are an employer or a fast approaching retiree in need of medical or prescription drug insurance, Benistar has brokers available to answer any questions you may have.