Human Capital Management

Retiree Benefits Administration

When employees turn 65, as long as their salaries are less than $200,000 a year, they are eligible to receive full health insurance coverage with a prescription drug co-pay card with better coverage for far less than the cost of maintaining coverage on the employer-sponsored plan. Furthermore, many small employers (under 20 employees) don’t know that, as a result of the Affordable Care Act, their group health insurance policy excludes coverage for items that would have been covered by Medicare. This is a very dangerous place for the employer and employee if not addressed. With BeneFinder’s senior benefits advisors, we are able to ease your Medicare-eligible employees into the coverage that’s best for them!

The Retiree Benefits Administration module in BeneFinder’s Human Capital Management software helps make it easy for companies to stay on top of retiree benefits administration, helping drive down the average age on company health insurance policies as well as costs for employers and employees.

To help companies benefit from proper retiree benefits administration, BeneFinder representatives teach “Medicare 101” at customers’ workplaces. During these training sessions, employees can stand to learn information that can make all the difference in facing hospital bills for a few thousand dollars or tens of thousands of dollars.

For example, if an employee suffers from chest pains and goes to a hospital, doctors might choose to keep the patient for “observation.” Medicare, however, doesn’t cover “observation” costs, resulting in exorbitant hospital bills. The patient may instead request “admittance” to the hospital, covered completely by Medicare.

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