Retiree Health Account Eligibility
What is changing?
As of January 1, 2018, Loyola University of Chicago is terminating the Loyola University Blue Cross Blue Shield Retiree Health Plan and Medicare Part D Plan. All participants will be able to enroll in individual Medicare supplemental coverage through OneExchange (also known as Via Benefits beginning March 1, 2018).
- Through OneExchange, participants will have access to a wide selection of individual Medicare plans. There will be a number of plans from which to choose, participants can find coverage that suits their individual health and financial needs.
- OneExchange will provide personalized and unbiased assistance through licensed benefit advisors who will assist you over the telephone. The OneExchange website is a resource available to help Medicare-eligible participants research and compare coverage options and enroll in individual Medicare coverage.
- OneExchange will administer your Health Reimbursement Account (HRA). The health plan premiums and any eligible out of pocket costs will be paid by the participant and then the participant will be reimbursed from the Health Reimbursement Account. Now the HRA will reimburse you for eligible medical and prescription drug expenses including premiums, up to the available balance in the HRA. This process will be explained in additional information sent to you over the next few weeks.
- If a Medicare-eligible participant wishes to continue supplemental health insurance to Medicare, then the participant must enroll in a medical plan through OneExchange during the specified enrollment period - October 22 through December 29.
- If the participant does not enroll in a plan through OneExchange during the specified enrollment period, then as of January 1, 2018, the participant will no longer be covered under the Loyola group health plan.