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We are sending you this note to highlight important changes to health insurance options being offered to Raytheon Retirees on Medicare.
We found out about this change from some of our members and wanted to share it with the membership ASAP, hence this email to you. Those of you currently enrolled in Medicare Advantage plans should already have received a package from Raytheon. The three attachments to this email is the material that was included in that package. It includes a summary letter, A Benefits Handbook, and a description of the Secondary Prescription Drug Coverage. Please review it carefully.
Here’s information from the summary letter:
Effective January 1, 2017, Raytheon will no longer offer retirees the Medicare Advantage Plans listed below:
· Fallon Senior Plan (Fallon Health)
· Medicare HMO Blue (Blue Cross Blue Shield)
· Tufts Health Plan Medicare Preferred HMO
The reason stated by Raytheon is that the company “has taken precautionary steps to protect our employees’ and retirees’ personal and health information by requiring that medical plan carriers meet Raytheon’s data security standards. The medical plan carriers that offer…” these “…plans do not meet Raytheon’s data security requirements.”
Effective January 1, 2017, Raytheon retirees currently enrolled in these plans will instead join the Raytheon Medicare Plus Plan. “The Raytheon Medicare Plus Plan provides supplemental coverage for Medicare deductibles, prescription drugs and medically necessary services that Medicare typically does not cover. Your enrollment in the Raytheon Medicare Plus Plan will be automatic, effective January 1, 2017.”
“In order to participate in the Raytheon Medicare Plus Plan, you must be enrolled in Medicare Parts A, B and D prior to January 1, 2017. If you are not enrolled in Medicare Parts A, B and D, you must take action now to enroll (visit http://www.medicare.gov or call 800- 633-4227 to speak with a Medicare Customer Service representative).”
“In addition, note that the Raytheon Medicare Plus Plan provides prescription drug coverage only if you enroll in a Medicare Part D prescription drug plan (PDP). The Medicare Part D PDP provides primary coverage for prescription drugs, and the Medicare Plus Plan provides supplemental coverage for prescription drugs. The enrollment period for PDPs begins on October 15, 2016.”
“The enclosed Important Information About Secondary Prescription Drug Coverage with the Raytheon Medicare Plus Plan brochure can help you choose a PDP.”
“The enclosed Raytheon Retiree Health and Welfare Benefits Handbook provides details about the Raytheon Medicare Plus Plan…. The upcoming benefits open enrollment period…will be held November 7 – November 18, 2016.”“Note that you will soon receive a letter from your current Medicare Advantage Plan carrier with information about available coverage options. Since Raytheon will no longer be affiliated with these carriers, if you were to elect one of these coverage options, you would no longer be eligible for any Raytheon subsidy and you would need to pay the cost of premiums directly to the carrier.”
“The enrollment kit you will receive from the Raytheon Benefit Center in early November will include information about transitioning from your current Medicare Advantage plan to the Raytheon Medicare Plus Plan…. Review the enclosed materials and get answers to any questions you may have (see below for resources).”
RESOURCES
· Questions about how the Medicare Plus Plan works? Call 877-559-4244 to speak with a representative from either the Medicare Plus Plan administrator, UMR or OptumRx. Representatives are available Monday through Friday from 8 a.m. to 6 p.m. Eastern Time (ET).
· Need assistance making benefit-related decisions, including choosing a Medicare Part D prescription drug plan (PDP)? Call Health AdvocateTM at 866-695-8622. Personal Health Advocates are available 24 hours a day, seven days a week. Normal business hours are Monday through Friday from 8 a.m. to 9 p.m. ET. This service is provided at no additional cost to you.
· Questions about your eligibility for Medicare and/or Medicare Parts A, B or D? Visit http://www.medicare.gov or call 800-633-4227 to speak with a Medicare Customer Service representative.
· General questions about your benefits? Log on to the Raytheon Benefit Center Online at https://raytheon.benefitcenter.com or call the Raytheon Benefit Center at 800-358-1231. Benefit service representatives are available Monday through Friday from 8 a.m. to 8 p.m. ET.”
If you run into any problems or difficulties in getting responses from the above resources or Raytheon Benefits Center, please contact us at: info@raytheonretirees.org
Testing again
I wanted to post an entry. This is not a real entry. I also wanted to see the look and feel of the bulletin board.
Stan
Raytheon’s Pension calculation is erroneous in that it does not use actual SS payments to retirees.
It is there formula, but it is not correct. In my case $40-60 short each month. The formula over states the SS payment thus reducing the value that Raytheon gets for the monthly payment of pension. Would like this organization to look into this and give me an answer.
Thanky you. Tom Kager tmkagr47@icloud.com cell 401 207 3331.You should call the benefits center.
I retired last year and during one of my many calls to the benefits center I asked a pension specialist how they could calculate the pension amount if they only had social security estimates. She said the estimates were all they had at the time, and she said if at any time in the future I believed the pension amount was incorrect I should call back and they would review it and make adjustments if necessary.
Make sure you talk to a pension “specialist”. The first person you talk to probably won’t be able to help with this
Good luckDoes anyone know if Raytheon followed through with their reported 1 billion dollar contribution to their pension plans? How much is Raytheon’s pension fund liability before and after this 1 billion dollar payment?
Hello RTN retirees:
I am looking for feedback, advantages/disadvantages anyone might have who has the RTN retiree healthcare as their Medicare supplemental plan. I am currently on a Medigap plan and only found out about the RTN retiree plan recently. The $62 cost (for last year anyway) is significantly less expensive than what I’m currently paying for my plan, which makes me wonder if the RTN plan doesn’t cover everything that my medigap plan does.
Any info, thoughts or experiences you can provide me are greatly appreciated!!Thanks for your input.
Joe NeyI have been on this insurance for the last 12 years, for reasons which were sufficient to me when I retired. So far I have not qualified for any payout. That is the limit of the information I have on the subject. I am however interested in hearing the opinions of others on this topic.
I have been offered an opportunity to return to work. There are options as a RayTech employee or as a contractor.
Can anyone recommend a source for the pluses/minuses of the options?
Mark Patterson
