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benistar news, blogs

Benistar reviews: why we have the highest customer and workplace satisfaction

Established in 1978, Benistar is a nationwide leader in the design, installation and administration of post-65 group retiree medical benefits. We have provided group benefit plans to business organizations, labor unions and public sector entities (municipal, state and local government entities) across the US with retiree health plan access and administration since 1995. Medicare, Benefits services and retiree medical prescription drug plans are just a few of the things we specialize in. At Benistar, we administer more than $100 million in premiums annually. We also provide retiree health and retirement plans for more than 400 plan sponsors throughout the U.S.…

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benistar news, blogs

How to Save Money During Retirement

Money management during retirement years is drastically different than that of the rest of your life. Usually, you have less to work with, but also, your costs should be decreasing, especially as your children grow older and can fend for themselves and in some cases, even help out. Once you retire, you have decided on receiving just that amount of money, but there are a few tips and tricks that can help you stretch out. After all, you want to be out crossing items off your bucket list during retirement, not worrying about money! Here, Benistar lists a few ideas…

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How To Get The Best Health Insurance For Your Family

Health insurance is incredibly important and for the sake of you and your family, it must be considered at some point. In general, most people already have some type of insurance, which is pretty good, but far from ideal, as you want to make sure the coverage is optimum. In order to check its quality, pay attention to the offered treatments, general availability and other factors you or your family members need. Don’t forget that if something isn’t covered by insurance, you will have to pay for it out of pocket. This inadequate coverage was exactly what current Benistar President…

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Benistar’s Don Trudeau: How to be A Leader in Business

It’s much easier to do better in business as an individual than to be able to lead others well in the world of business. In order to be a successful business leader, you must have a large breadth and depth of knowledge that will lead you and your company in the many situations companies may find themselves in. Whether you are in the red or black, you need to be able to stay calm and confident and lead your team to victory. If you are interested in becoming a good business leader, or becoming even better, look no further than…

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Start Planning for Retirement Now

No matter where you are on life’s journey, it’s always a good thing to start planning ahead, especially regarding financial matters. Of course, saving money may seem dreary when the other option is to spend it on food, clothes, entertainment, vacation. But you will be able to stop working sooner and go on all those vacations you have planned in your head if you just start saving a little at a younger age. This is especially true in this day and age, because if you are just waiting for a company pension or social security check, think again. Those once…

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Top 5 Vacation Spots for Retirees

Western National Parks The American West is a travel destination like no other. There are mystical deserts, rolling hills, dense forests, different climates and many species of wildlife. It’s certainly a region that you have to budget a considerable amount of time exploring, and you can finally afford that in retirement. Its also a great place to travel via RV, a popular mode of transportation for retirees. Donna Hull, the author of My Itchy Travel Feet (a babyboomers’ guidebook to travel) says, “begin by exploring the hiking trails, glaciers and lakes of Glacier National Park.” “Of course driving the engineering…

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Six Hottest Retirement Destinations of 2017

Thinking about retiring?…These six places are the hottest retirement destinations of 2017!  1. Cape Coral, Florida Ranked as the number one place in America to retire on a number of lists, Cape Coral is a no-brainer. This sunny floridian town boasts a low cost of living and like everywhere in Florida, there’s no state income tax! There’s a thriving senior community, with places to congregate such as the Cape Coral Yacht Club. The city is easily walkable and there’s also excellent public transportation. Superb healthcare is provided at both Lee County VA Medical Center and Cape Coral Hospital. But most…

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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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The Deception of Junk Insurance

In an article to the New York Times, Julie Arkison thinks back to how things were before the Affordable Care Act created standards and regulations for her health insurance. At the time, the health insurance policy she had, which was from the same health insurance company that covers her now, didn’t cover the costs of doctor visits except for a gynecological exam and a yearly checkup. “I couldn’t even go to my regular doctor when I was sick,” said the 53 year-old, self-employed horseback-riding teacher from Saline, Michigan. Julie’s medical insurance did not cover any of the exams before or…

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Generic Prescription Drugs Offer Seniors Huge Savings

Benistar’s Generic Prescription Drugs Offer Seniors Huge Savings Without medical insurance, the cost of brand name prescription drugs can be quite overwhelming. Brand name medications offer no real benefit versus their generic alternatives. They are virtually the same thing. In order to gain approval from the U.S. Food and Drug Administration (FDA), generic prescription drugs are required to have the same dosage form, strength, active ingredient, and route of administration as their brand-name counterparts. The manufacturers of generic drugs must also demonstrate that theirs drugs are absorbed at the same rate. The only real difference between generic drugs and brand-name…

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