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