Helping to create affordable coverage for retirees with Group Medicare Advantage plans

As your workforce nears retirement, you may want to help ensure they have health coverage that meets their needs, while staying within your budget. While those 65 or older are likely eligible for Medicare, they may also want additional coverage for out-of-pocket costs. After the many years of hard work and loyalty with your company, offering your retirees affordable yet robust solutions may help ease them into retirement, in a more seamless transition. 

With options from UnitedHealthcare Retiree Solutions (URS), you may be able to design Group Medicare Advantage plans specific to your retirees. These plans often provide benefits like vision, dental and hearing coverage, as well as fitness programs and other benefits not included with Original Medicare (Medicare Part A and B). 

Linda Jones, senior vice president of account management for UnitedHealthcare Retiree Solutions, answers five common questions to help you better understand group plans and your options. 

1. What are Group Medicare Advantage Plans?

These plans are offered by employers, plan sponsors or unions to their retirees. Medicare Advantage plans combine Medicare Part A, Part B and often Part D into one plan with a network of providers. Depending on your health insurance company, you may have the following options: 

  • Group and individual Medicare Advantage plans
  • Group and individual Medicare prescription drugs plans
  • Programs and services for health and wellness 

2. Why should employers offer these plans to their retirees?

Group Medicare Advantage plans, like those from UnitedHealthcare, provide a fully integrated approach that coordinates participants’ care and coverage. Payment and benefits details are designed to be simple and clear. Retirees may receive one ID card, one easy-to-understand benefit summary, call center support and online resources to help manage their care and coverage.

3. What do the plans include?

Group Medicare Advantage plans offer services to members that go beyond Original Medicare plans. This may include benefits like vision, dental and hearing coverage. Retirees may also enjoy lower out-of-pocket costs and coverage that’s comparable or better than what they had while working.

4. How do these group plans help meet the needs of retirees?

Care coordination is an important factor for retirees. These plans, like those from UnitedHealthcare, may provide increased preventive wellness and better outcomes for patients by offering: 

  • Incentives for health and wellness
  • Coordinated care and support
  • Annual in-home preventive care visits
  • Integrated clinical and wellness programs 
  • Services like fitness programs, hearing aid discounts and meal delivery

5. What should you consider when choosing a plan?

Group medical and prescription drug plans can be a tremendous benefit for retirees but finding the right plan without a representative guiding you through the process may be a challenge. To help make it easier, an employer should contact their particular health insurance company for a consultative discussion and quote. If reviews of the employer’s current plan reveal any gaps in coverage, retiree support or satisfaction, representatives may help find ways to provide cost-effective coverage that fits within your budget and business plan, while helping to increase retiree engagement and plan satisfaction.  

For more than 30 years, URS has kept retirees at the center of their focus, which has resulted in high Star ratings year after year – maintaining a 4.5 or greater for five out of the last six years.1 If you are considering group medical and prescription drug plans for your retirees, visit the Group Retiree Solutions website.2

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