retiree medical meeting hra...coverage under the peabody retiree medical plans (option 500, option...

September 2014

Retiree Medical Meeting

HRA

Today’s Agenda

● Overview of What’s Changing and Why

● Health Reimbursement Arrangement

● What Do You Need to Do?

● OneExchange Services

● Questions

2

What’s changing

● Beginning 1/1/15, Peabody is offering a new way to select health care

coverage through the private Medicare marketplace

● Coverage under the Peabody retiree medical plans (Option 500, Option

1000, Coventry) and SilverScript will end for Medicare-eligible retirees

on December 31, 2014

● Peabody has selected OneExchange and its benefit advisors to provide

you and your spouse with individual, unbiased support in making your

decision and to be available for future needs

● Peabody will provide you with financial support through a health

reimbursement arrangement (HRA) which you can use to reimburse

yourself for premiums and eligible out-of-pocket expenses

● To obtain coverage and access to HRA funds, you must select and

enroll in plans that meet your medical and prescription drug needs

through OneExchange

3

Why is Peabody Making These Changes?

● Retiree healthcare costs continue to increase for both companies and

retirees

● Availability of more affordable medical and prescription drug plans on

the private Medicare marketplace have increased significantly over the

last decade

● These plans should offer you more choice and value than the current

Peabody plan

– More plan designs, provider networks, and coverage options to best

fit your (and your spouse’s) individual needs

– Competitive premiums

● Individual, unbiased support from OneExchange to help you make a

selection and use your HRA dollars from Peabody

● It’s important that you select a plan that best fits your needs –

considering both plan premiums and out-of-pocket costs

– If you are relatively healthy, you could save money by selecting a

plan with a lower premium and a lower level of coverage

4

Health Reimbursement Arrangement (HRA)

● Going forward, Peabody will make a contribution to a Health Reimbursement Arrangement

that you can use to reimburse yourself for premiums and eligible out-of-pocket expenses

● Retirees will received $1,300 per year; Eligible dependents will receive $1,000 per year

– HRA is a joint account – a married couple will have $2,300 per year available to use

towards medical costs

– You must enroll in a plan through OneExchange to receive your HRA funding

5

● What is eligible for reimbursement?

– Plan premiums – Part B, Medicare

Advantage, Supplement and Part D

plans, as well as dental and vision

premiums

– Eligible out-of-pocket expenses for

medical, dental, and vision claims

– Note: you cannot use your HRA dollars

towards your out-of-pocket drug costs .

Doing so would defer your eligibility for

catastrophic benefits potentially

increasing your drug costs.

What Do You Need to Do?

● Listen to today’s presentation by OneExchange about your options and

the enrollment process

● Contact OneExchange at 1-844-256-0917 to schedule an appointment

with a Benefit Advisor

● Work with OneExchange to enroll in your new coverage for you and your

spouse between October 9 – December 31

● Pay your premiums to your new insurance carrier and work with

OneExchange to receive reimbursement from your HRA, funded by

Peabody

6

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Helping You Prepare For Your Upcoming

Medicare Enrollment

Traditional HRA


Who We Are

Transitions Can Be A Good Thing!

OneExchange – For Your Benefit

A Deeper Dive – Benefit Advisors,

Private Exchange, Optimize Savings,

Health Reimbursement for You

Next Steps

Questions & Answers


About OneExchange

Towers Watson

over

100 years experience

First and Largest

private Medicare Exchange

Personalized options with plans from

a nationwide network of carriers

Licensed advisor provides

guidance and lifetime advocacy

Hundreds of thousands

of retirees served across

300+ employers

In the middle of our

9th annual enrollment season

Founded in 2004

No fees for

our service


The Transition Process

Simplified

Selection

Consultative

Process

Lifetime

Advocacy

Effortless

Enrollment


Our Service Centers

Salt Lake City, UT

Dallas, TX

Operating hours:

Monday-Friday 7am-8pm CT

100% Domestic Workforce

- NO Outsourcing!


Plans and Partners

All Plan Types

Wide selection of plans from leading national / regional carriers

Prescription Drug

(Part D) Medicare Advantage Medicare Supplement

(Medigap)

Dental Plans & Vision Plans


Your Future Coverage


Your Future Coverage

Primary Coverage

Medicare A & B

Additional Coverage (your choice)

Medicare Advantage with

Prescription Drug (MAPD)

OR

Medigap + Prescription Drug

Optional Coverage (your choice)

Dental Plans

Vision Plans


OPTION 1

Medicare Advantage Plan

with Prescription Drug Coverage (MAPD)*

* Note that Medicare Advantage plans are generally network based plans.

MEDICARE

ADVANTAGE

[some zip codes/counties may not have MAPDs]


OPTION 2 Medigap Plan + Part D Plan

Note: You may need to pay your first premium when you enroll in coverage.

MEDIGAP

PLAN

PART D

PLAN


A Deeper Dive Into

Our Process


Your Experience

Announcement & Education

Evaluation & Enrollment

Ongoing Communications

& Advocacy


Education

Pre-existing conditions will not limit

your plan selection*

Getting Started Guide

* Except end-stage renal disease.

Make your First Contact call

TOLL FREE

1-844-256-0917

medicare.oneExchange.com/peabodyenergy


Education

Prepare for Your Enrollment Consultation

Review Medicare basics

What to expect on your enrollment call

FAQ’s

Appointment confirmation

Enrollment Guide


Benefit Advisors

Licensed / Certified / Appointed

OneExchange University™

Average age 43

Objective & unbiased

100% domestic workforce

Hours of

Operation

Monday – Friday

7 am – 8 pm CT


Decision Support Tools

Help Me

Choose

Prescription

Profiler

medicare.oneExchange.com/peabodyenergy

24/7 access to your information


Enrollment Process

Benefit Advisors can discuss coverage options with anyone

Telephonic enrollment – 2 part process

100% of calls are recorded


Selection Confirmation Notice


Health Reimbursement

Arrangement

(HRA)


What Is An HRA?

Tax-free account used to reimburse you for eligible health care

expenses — you pay first and then get reimbursed

If you are eligible, Peabody Energy will make an annual contribution

to a Health Reimbursement Account (HRA)

You may use HRA funding to reimburse yourself for eligible medical,

prescription drug, dental, vision premiums (including Medicare Part B

premiums), as well as eligible out-of-pocket healthcare expenses

You must enroll in a medical plan through OneExchange, and your HRA funding will be available January 1, 2015

Unused Funds do rollover


Health Reimbursement Arrangement

Reimbursements are

up to the amount

available in the HRA


Health Reimbursement Arrangement Reimbursement Options

1.

Automatic

Reimbursement [including recurring premiums]

2.

Manual

Reimbursement

Reimbursements are

up to the amount

available in the HRA

[Not all Carriers offer A/R]


Personal Guidance For a Lifetime

A Lifetime Advocate

Navigation

Enrollment

Prescription changes

Affordability concerns

Reimbursement issues

Late enrollment

HRA

Annual plan review

The plans you select continue on

year to year. No need to re-enroll in

the fall unless you want to make a

plan change.


Next Steps


What You Need To Do: Action Required!

Contact OneExchange

1-844-256-0917

Call now to complete your profile and

schedule an enrollment appointment

You will need your Medicare card,

prescription list, and doctor & hospital

information

We Are Ready!


Questions

&

Answers


Call Now - We Are Ready

1-844-256-0917

PeabodyEnergy.com AdvancedEnergyForLife.com

retiree medical meeting hra...coverage under the peabody retiree medical plans (option 500, option...

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