(Newswire.net -- June 22, 2015) Norwalk, CT --Benistar has been recognized as a nationally-renowned expert on all types of medical and related retirement benefits for Medicare eligible plan participants. Now, the company is offering specific support for employers that offer retiree benefits that include Medicare Part D, or a prescription drug plan with an Employee Group Waiver Plan (EGWP).
Benistar as seen at https://storify.com/FlowersFragrant/benistar-introduces-new-retiree-medical-benefits-p offers several EGWPs that use Medicare Part D to provide prescription drug benefits to retirees. There are several advantages to EGWPs, including the fact that they are fully insured - enabling retirees and employers to cap their health liability amounts. Medicare Part D plans offer nationwide availability, making them attractive to employers who operate in different states simultaneously. There is no annual plan maximum for these plans, and there is great flexibility in designing the plans to meet the needs of specific employee groups.
Benistar as seen at http://www.lolking.net/summoner/euw/42914924 also offers Medicare Plan D plans through several insurance carriers that include flat co-pays or coinsurance to members and help to fill the Medicare coverage gap, also known as the "donut hole." This is the amount, often in the thousands of dollars, that lies between Medicare's regular payments and those that take effect after the retiree has exhausted his or her own payment requirements.
Furthermore, Benistar as seen at http://www.mattgranger.com/community/index.php?p=/discussion/35074/contact-benistar-benistar-engaging-with-different-benefits-experts-and-brokers-across-the-county-fo/p1 allows plan sponsors to choose from standard plans or customize their own plans with underwriting approval. With the addition of a non-Part D wrap product, retirees can also take full advantage of discounts such as the 50 percent brand drug discount provided by the Coverage Gap Discount Program.
Many employers who choose to provide retiree drug coverage are now filing for Retiree Drug Subsidies (or RDS) benefits. Benistar, as seen at http://www.411.com/business/benistar-limited-avon-ct, offers low premium rates that include these government subsidies so that no additional filing is required. In fact, the average subsidy received through the EGWP plan that includes the non-part D wrap usually exceeds the RDS subsidy. This additional discount helps employers save overhead costs associated with RDS compliance and keep premiums at a reasonable level.
For more information about Medicare Part D plans, non-part D wrap plans and other methods of keeping retiree prescription costs low, contact the company immediately. A trained and experienced staffer can answer all questions about options for prescription drug coverage.
About Benistar: Benistar was established in 1978 and is a nationwide leader in the design and installation of retiree medical benefits plans. The company focuses its efforts on administration of retiree health insurance and prescription drug plans and works with consultants and brokers to provide medical and prescription solutions for companies nationwide.
For More Information:
Jeff Gordon, Media Manager
Benistar Admin Services, Inc.25 Seir Hill Road
Norwalk, CT 06850