If you have retiree health insurance through Via Benefits what plan have you signed up for and what is the monthly cost? Enrollment period begins 11/1/22 for 2023. Are you planning to make any changes? Any recommendations or suggestions based on your experience? This is for Employee+Spouse coverage in South East Michigan with 1000 HRA dollars per month. Thanks
21 replies (most recent on top)
I became a part time university student to purchase cheap healthcare. My current plan is a BCBS PPO. Our copay is $20 for a doctor visit and $40 for specialist. Our family deductible is $1000. Out of pocket max is $6000. The HRA covers all the cost fur this plan plus Delta Dental as well with some left over at the end of the month. I do have to pay tuition out of pocket of about $1100 per semester which is a great trade off because if I purchased this plan on the open market (ACA), the cost is over $38k. My professor is very flexible about class (occasional virtual session allowed) because I’m a non-traditional student and I get an A every semester with no tests, midterms, or finals. BUT I do have to do the work but I’m progressing at my own pace.
Not an ideal situation because it does limit your ability to go anywhere for any length of time but it works for us. It certainly keeps the brain active and a little structure during the week is good. It’s challenging and frustrating and fun as well. Only 4 more years until we’ll both be on Medicare. I hope to be proficient enough to play Stairway to Heaven before this ends but I’ll settle for Classical Gas.
@2dqa+
Thanks. Good info and guidance!
@2njl+1jlnmtYz "Regarding subsidies and HRA, I appreciate the feedback but I also found this. By all means I will also consult an agent."
Good idea, but it is clearly stated in the enormous retirement package that you cannot double dip. Later, I'll try and sift through the documents and let you know which section/page.
Sounds like “avoid VIA, shop on your own or use an agent” is the route to go.
Regarding subsidies and HRA, I appreciate the feedback but I also found this. By all means I will also consult an agent.
============
Affordable HRAs and the 9.61% standard
The only way you’ll qualify for Marketplace savings (and possibly your household members’ coverage, if applicable) is if your employer’s HRA isn’t considered affordable.
For plan years beginning in 2022, an individual coverage HRA isn’t considered affordable for an employee or for any dependents to whom the HRA is offered if the monthly premium for the lowest-cost Silver plan for self-only coverage in the employee’s area, minus the monthly amount made available just to the employee under the HRA, is more than 9.61% of 1/12 of the employee’s household income for the tax year. This percentage is indexed yearly.
==============
Yes, it was pure he-l getting things set up last year as first year using VIA and getting insurance and reimbursements going. Since September I watched my phone and ignored 10 calls from VIA expecting a 'how can we do better' speech. Well I picked up the 11th call and sure enough it was VIA promising the world. Down post is correct, these are people that need a job, no more. Lets call this guy 'Chip' he had no idea what he was doing and stumbled through every question with a non answer. Ford retirees still know more about VIA than VIA, except in the rare 1 in 8 call you get someone with some level of confidence and experience. They are trying, but I never get a warm fuzzy I always feel like my insurance can collapse if they mess with it.
Based on my experience with VIA Benefits, BE VERY VERY CAREFUL! They operate like a help desk, in that they have benefit advisors around the country who have taken a weeklong benefits class. In the last year, I have not spoken to the same advisor twice. They are not "experts" like the proclaim to be, but more like people off the street who just needed a job. I have been horsing around with them for an entire year and they still havent gotten it right. It has taken me at least 20 phone calls that each last about an hour. I am single, no preexisting conditions and no court orders to provide dependent coverage. In a nutshell, there is nothing special about my case and they still managed to mess it up. Last month I received a letter from VIA stating that they were "committed to providing better service to Ford retirees in the future". What does that tell you? My suggestion is to pay very close attention to what they tell you and what invoices the insurance companies send you.
Very true, there is no double dipping. I tried and it took some time to undo the mess I created
You can't get tax subsidies and HRA ... only one or the other.
You’re getting into some detail questions. I wouldn’t fully trust advice on a chat board because there are a lot of nuances to medical plans, employer specifics, and your unique situation. Just call whatever company you’re intending to do something with and see what they say, and I would call two or three reps to see if you get the same answer
My understanding is the Biden administration has greatly increased the income limit to which subsidies are allowed for those purchasing ACA healthcare products. I believe this goes to 2025. The reasoning was COVID related.
So you probably can get COBRA to April 2024, then purchase from ACA exchanges and leverage the larger income limit to qualify for subsidies. If you take lump sum and roll it over, Keep your annual income withdrawn from Roth/regular IRA within these limits, maybe you qualify for some subsidies.
The monthly annuity option may or may not put you above the limits,
VIA Benefits does not sell health insurance. They are a consolidator. All plans are available on Healthcare.gov and the price is the same whether purchased on VIA or directly. Difference is availability of possible tax subsidiaries (which if you have pension or other monthly income you will never qualify for). Premium prices are based on age and zip, not individual or pre existing conditions.
Follow up to my post about the three options. My initial assessment is that income from other employmen5 would far offset and make more sense than paying the $330 or so a month on the continue coverage from severance with no income. Other than my deductible already being met for the year, that's the one advantage. However, that expires in two months so if someone gets a job offer you never know when the next one might come. I'm hoping you can tell me if I'm missing anything. Thx again everyone.
Does anyone know if you can coordinate retirement provided insurance with another employer plan if/when you take another job? Trying to figure out what makes the most sense of three options, not take another job and use the severance provided coverage, use retirement coverage or an employer plan if taking another job? Thanks everyone.
I,ve heard you don’t have to go thru via-benefits to shop for your policy. Once your HRA is setup, you are free to shop for the best policy on the ACA exchanges yourself, calling BCBS to negotiate one for yourself, or going thru an agent to get the best choice/value for your needs.
Molina Constant Care Silver 7 250
$0 deductable, $30 copay office visits, $100 copay specialist, $1250 copay for Emergency room
$8,500 max out of pocket per year
About $200/month after Ford's $500 contribution.
Is the cost of the BCBS HMO that you will change to less after Ford pays $1000 of it? Would your cost then be only $82 a month?
I am paying $228 month for my wife and I AFTER the $1000/month allowance for both of us. Going to get any major medical needs done while my $6000 max out of pocket is still possible for the next 18 months thru Cobra. Otherwise, it’s a $7000 per year deductible for each of us going with the BCBS HMO saver plan at $1082/month.
@1iig+1jlnmtYz are you paying $1228 a month or $228 a month for Cobra?
Continuing my BCBS PPO Coverage thru Cobra for my wife and I was quoted at $1228/month for the next 18 months by NESC.
I thought it was better to pay $228/month for the next 18 months instead of having a $7000 /per person or $14,000 deductible per year.
My monthly cost for Blue Cross Bronze plan with a $7000 deductible currently is $235. (Ford pays $500/month) I don't know yet what my premiums will be in 2023. Need to wait until 11/1 to find out. Premiums are bases on age, I am 56. Rumor is that premiums will increase by 10%. I am not planning on making any changes. It is the cheapest, but most reliable plan for me. I am relatively healthy. Contribute to HSA as well.