American Airlines cutting retiree health benefits for 65+

Since the recent news about American Airlines eliminating their medicare benefits for their retirees who are over 65, I have been very concerned for those who are caught in this ugly mess.  But I am reminded of the numerous clients who went through this very same experience last year with several large companies right here in the Dallas area.  Not to mention names, but several companies felt that it was necessary to lower some costs by lowering some benefits for people that had devoted their entire lives to working for that company, only to find out that you really don't matter that much after all.

Here's the silver lining that most of these AA retirees don't understand.  When you lose your group coverage, it's a "qualifying event".  That means that you can sign up for another Medicare Supplement without having to qualify based on your medical history.  If you are undergoing treatment for a current illness or a chronic condition does not matter, they have to accept you into a new plan that is authorized in your zip code.

In the Dallas/Ft. Worth area, most of out clients find that the premiums are more affordable than they thought and more often than not, they have better coverage because they no longer have deductibles or co-pays that they have to pay.  You decide which doctors you want to see, not a HMO network, and your care continues on uninterrupted.

So the moral of the story is...you have options!  Don't fret!  Just make sure you apply for your new plan within 60 days to take advantage of guaranteed enrollment.

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