There are some notable changes to Connecticut’s Teacher Retirement Board health insurance plan.
Retirees may see changes to health care benefits and updated health plan rates.
For teachers planning on retiring soon, or already in retirement, these changes are incredibly important.
Planning for your health care future as best as possible may very well save you both time, money, and precious resources.
What is the Connecticut TRB
The Connecticut Teachers Retirement Board (TRB) health insurance plan allows for schoolteachers who are retired to obtain health insurance beyond their Medicare coverage.
When a retiree pays their deductible, they can then receive coverage through the TRB plan to cover the remainder of their health care costs.
The TRB’s funding is paid for in part by the retiree, the State of Connecticut, and the TRB. The retiree will not have to pay more than a third of the cost of the plan.
Important Dates to Follow
Medicare Open Enrollment for 2020 has several key dates that retirees should understand.
- October 15th, 2019 – Medicare enrollment begins
- November 25th, 2019 – Enrollment ends
- January 1st, 2020 – Health coverage begins
Changes to the Connecticut Teachers Retirement Board Health Insurance
The 2020 changes to health insurance coverage will include several pricing modifications, as well as some additional benefits. All Anthem members can use all health care providers who accept Medicare coverage.
Members who have Cigna dental coverage will not see any new changes made to copayments or services in 2020.
At the start of January 1st, 2020, any hearing and vision claims you have will go to your health care provider. Part D is available through Express Scripts.
Members can expect a deductible of $200, 5 percent for generic medications, 20 percent for brand medications, 30 percent for the non-preferred brand cost to:
- A maximum out of pocket cost of $3500
- A Federal maximum of $6350 true out-of-pocket costs (TROOP) dependent on a cost-share of 5 percent, contingent upon the plan maximum out of pocket (MOOP)
Connecticut Teachers Retirement Board Insurance Maximum Out of Pocket in 2020
The maximum out of pocket (MOOP) is the costs for Part D and non-Part D costs that the member pays.
This cost is $3500 and includes a $200 deductible.
True Out of Pocket 2020
The true out of pocket (TROOP) cost is related to only Part D. Further, the TROOP cost for 2020 is $6350.
These out of pocket costs include:
What you pay to have prescription medications filled
Any payments made towards your prescriptions through “Extra Help,” state assistance programs, many charity organizations, Indian Health Service, AIDS Drug programs, and discounts from manufacturers.
Connecticut Teachers Retirement Board Health Insurance Additional Benefits in 2020
Members can expect to see several additional benefits offered in 2020, that were not previously available in 2019. These benefits help members save money.
- The Silver Sneakers program is available to all members
- Telehealth services are available for members
- Nurse health line available 24/7
- End of life care
- Members can expect an increase to $1500 every three years for hearing aids
Updated Plan Costs Through Anthem’s Base Plan
The updated 2020 PPO Medicare Advantage Base Plan through Anthem will cost retires $127 per month.
This plan includes medical, vision, dental, and prescription health benefits.
The plan is $3 less than the current 2019 Anthem PPO Medicare Advantage Base Plan. Individuals MUST pay a $10 copayment for office visits.
Updated Plan Costs Through Anthem’s Medicare Supplement Plan
The 2020 Anthem Medicare Supplement plan will cost Connecticut Teachers Retirement Board retirees $112 more than the base plan each month and will be a cost of $239 per month. The policy is $1 more per month than the previous supplement plan through Stirling, which was $238 per month.
Individuals will pay a $10 copayment on office visits and a $250 copayment for inpatient hospital visits.
Retired teachers may not have a secured monthly income and may find themselves living on a fixed budget. Many members may find difficulty in covering those high health care expenses that may come up down the line.
Supplement plans can help bring a sense of relief to costs that may pop up. Although members may pay more each month to obtain a supplement plan, they may very well end up saving money in the long run by opting into the supplement plan.
While Anthem offers some incredibly beneficial plans, you may decide that you’d prefer an alternative option. If this is the case, please give our team a call today or click here.
We are here to provide you with competitive rates to ensure you get the coverage you want and need.