Just Learned About HRA/RRA my former Employer Offers (medical, plan, supplement)

[elchevere]

In the process of signing up for Medicare and Medigap through Fidelity, the benefits sponsor for my former employer that I worked at for 33 years.

Just learned that my company offers a RRA program in which I will get nearly $3000 annually that I will end up applying towards my monthly Medicare expenses. Was unaware of this, which will act as “free money” at this stage of the game. When you factor in that the UHC program I signed up for includes free gym memberships (plural) through the Renew Active program, I now will basically be getting my Medicare/supplemental coverage for free!!

Glad I didn’t job hop (and was good enough to survive 8 reductions in force)—not only did my 401K and pension grow more than it would have otherwise but now this (along with prior retiree medical and dental benefits through age 65 at $95/mo).

[Rabrrita]

Usually, retirees max out their RRA each year just with the premiums paid. The RRA for my employees covers the Medicare Premium deducted for SS, any supplement, dental, even eye coverage. Add any OoP RX payments and by years end, they went through the whole amount. Hopefully your plan offers single qualification for recurring expenses so you only submit the amounts paid monthly once and that takes care of the whole year.

Behind the scenes, your employer was actually hoping you selected an Advantage Plan so there would be little annual reimbursements. Even if it carries over, they are betting you'll never use the full amount. Those who pick a Supplement generally use all the reimbursement each year.

Yep, loyalty to a company has it's rewards.