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Retiree Drug Subsidy (RDS) vs Employer Group Waiver Plans (EGWP)

With all the recent healthcare reform intiatives, EGWP is becoming the most cost-effective way for your company to provide its retiring workforce with retiree prescription drug coverage. An EGWP, colloquially known as an “egg whip” is an option with group Medicare Part D prescription drug plans offered to retirees who were promised prescription drug coverage as part of their Other Post-Employment Benefits (OPEB). Benefit solution companies such as Benistar contract their medical insurance with the Centers for Medicaid and Medicare Services (CMS) to serve as a Medicare Part D Plan Sponsor and maintain compliance with CMS regulations in regards to…

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4 Things to Look Forward to With Retirement

One of the biggest things we worry about is our retirement. But with retiree medical benefits, a lot of those worries can be removed. You can rest easy knowing your Medicare drug plans and health insurance is covered. With your retirement right around the corner, you will be freed up to engage in many more life activities. Here are a few things to look forward to with retiree medical benefits.   More time for family Once you retire, you will realize that it is now more possible than ever to spend time with your family and friends. Enjoy new opportunities…

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How Benistar Helps You Determine the Right Prescription Benefits

Prescription benefits with a personal touch Medicare drug plans can seem unfair when you don’t feel that you are treated as an individual. If Medicare prescription drug solutions are passed out like an assembly line, then your plan would be the same as anyone else’s. What room does that leave for your specific requirements? Medicare drug plans require more than just a short list of needs. It requires a personal touch. That is why Benistar reaches each retiree where they stand. Everyone currently in or facing retirement requires the chance to be cared for in their own way. So to…

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Top 4 Advantages of having an EGWP Plan

If you are just now looking into retiree prescription drug benefits, you will likely find that there is this offer referred to as an EGWP. This stands for Employer Group Waiver Plan. An EGWP is meant for those who are under Medicare Part D. The EGWP contains many possibilities for retirees, which is why it is of extreme importance to us at Benistar. Here are just some of the valuable benefits that come with this health plan. Fully Insured Being fully insured is more than just trusting a company. With Benistar, we allow you to cap your retiree health liability…

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