GE Retirees you have options!

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If You Are A GE Retiree, You Have Options!

In 2016, GE changed how they offer benefits to their employees upon retirement. While this has been a very frustrating period for many retirees, we are here to make sure you select the best health coverage option moving forward.

As a GE retiree, future retiree or dependent over 65, you now have two main options to help cover your Medical expenses that are not covered by Medicare.

Senior65 can help you determine which product is right for you and your dependents and we can make sure you receive your RRA (Retirement Reimbursement Account).

WHY WORK WITH SENIOR 65?

While GE directs its retirees to the OneExchange portal to purchase additional insurance, Senior65.com offers many insurance products not offered there.

When it comes to medicare insurance choice matters: As an independent insurance agency, we are appointed with AARP United Health, Aetna, Anthem, Blue Cross, Blue Shield, Cigna, Health Net, United American, Mutual of Omaha and others. By providing so many competitive choices, we can help you save a significant amount of money and provide coverage that may not be available in the exchange.

Additionally, we can provide you with a level of service that you may not receive on the exchange. We pride ourselves on world class service and we have a dedicated representative that helps GE retirees understand their options.

GE retirement options Frequently Asked Questions

What is RRA and How Can I Make Sure I Get it?

RRA stands for Retirement Reimbursement Account. 

GE provides some retirees with $1000 towards towards the cost of the insurance above as part of a Retirement Reimbursement Account (RRA).  If you are not sure if you receive an RRA contact GE HR to confirm. 

How do I make sure I receive my RRA

For those that have an RRA, you must use GE’s officially designated OneExchange to purchase at least one item additional health insurance item to receive the $1000 credit. YOU DO NOT HAVE TO USE ONE EXCHANGE FOR ALL YOUR RETIREMENT INSURANCE NEEDS.  This means you can still receive your RRA and work with the team here at Senior65 as long as you purchase one item off OneExchange.

Do I need to Sign up for Medicare?

Yes,  If you will be 65 upon retirement signing up for Medicare is usually your first step to insure health coverage after GE.  Any additional retirement insurance you purchase, whether you have an RRA or not, will require that you first have Medicare Part A and Part B. 

You may have been automatically signed up for Medicare if you selected to receive social security benefits at 65.  You will know you are signed up for Medicare when you will receive a Red, White and Blue card with your Medicare Part A and B effective dates on it.  If you are not sure, contact Social Security. Learn more here

 

How can I save money with Senior65?

Medicare Supplemental Insurance (Medigap) are highly regulated which makes comparing them easy.

Every insurance company that offers Medigap is required to provide the exact same plans with the exact same benefits and the exact same doctor networks.  The only area the insurance company controls is price.  They get to set their own price and sometimes the price difference between the most expensive and least expensive price is hundreds of dollars. 

If the plans are identical, wouldn’t you want to make sure you get the best price? 

We work with Anthem, Aetna, AARP United Health, Blue Cross, Blue Shield, CareFirst, Cigna, HealthNet, Humana, Kaiser, Mutual of Omaha and United American so we can help you find the best priced plan at no additional cost to you. 

We guarantee that the plans we offer are the lowest price available by law and we can help you make sure you receive your RRA (ask us how)

What is the difference between Medigap and Medicare Advantage

Medicare Advantage plans are offered by private companies that cover the same benefits offered in Part A and Part B (as well as some additional benefits not found in traditional Medicare).

Medigap is the nickname of Medicare Supplemental Insurance plans that you purchase to fill in the 1000’s of dollars of “gaps” not covered in Medicare Part A (Hospital coverage) and Medicare Part B (Doctor coverage).  In most cases, unless you are on a limited budget you will want to purchase a Medigap plan. Click here to jump to our Medigap section to learn more.

HOW DO THEY COMPARE ON…
Plan Benefits:
The benefits of Medigap plans are standardized by the federal government, meaning that Medigap plans sold by different insurance companies all offer the same benefits. Most Medigap plans will cover deductibles, extra days in the hospital and most co-pays.  Medicare Advantage plans, in contrast, must provide at least the same coverage as Medicare A and B, but vary widely beyond this minimum set of benefits.

Doctor Networks:
Medigap plans typically have a large network of doctors and facilities while Medicare Advantage plans usually have a smaller network. This varies by each Medicare Advantage plan provider. Those that travel extensively typically choose Medigap over Medicare Advantage for this reason.

Price:
Medigap plans always require an additional monthly premium while some Medicare Advantage plans may have no monthly cost at all.  In the past Medicare Advantage plans were often cheaper than selecting a Medigap plan. Many of the Medicare Advantage plans, however, require significant cost sharing by its members should medical services be required.

Senior65.com is proud to be endorsed by RAGEHCC