Thursday, April 5, 2018
Working to 65 and Beyond…
Understanding Medicare, and its Impact on Group Health Coverage
Approved for 1.0 SHRM and HRCI recertification credit.
As the number of Americans age 65 and older working full-time continues to grow, so does the confusion surrounding Medicare and how it impacts group health coverage. For those still working at age 65- and beyond- there is much at stake when it comes to health care. This 1-hour presentation will build your Medicare knowledge base and enable you to be a more effective HR resource to your employees in this area.
To better understand this scope of this issue, consider these recent findings;
31% of workers plan to work to age 67 or beyond
(Gallup Poll 4-16)
- 13% of 65-year-olds are working full-time (US Bureau Labor Statistics 2016)
- 28% of Americans can’t identify Medicare as federal age 65+ health insurance (Kaiser Family Foundation 4-15)
It’s humanly impossible to fully understand and have ‘ready recall’ of all aspects of the Medicare program. Nor is it necessary. An HR professional with a solid grasp of Medicare’s basic benefit structure and some targeted ‘need-to-know’ specifics can be highly effective guiding older employees who have questions or need information.
It all starts with an understanding of the “A, B, C, Ds” of Medicare…
Original Medicare: Parts A & B Medicare
Advantage: Part C
Part D- Medicare Rx Coverage
(Medigap - private supplemental policies)
Beyond the basics, this presentation also covers some of the interesting history of Medicare from its enactment in 1965 (as Title XVIII of the Social Security Act) to the latest solvency projections issued by the Board of Trustees.
The program then explores some targeted practical insights into common areas that pose challenges for both employers and employees, including…
How Medicare Coordinates with Group Health Plans
- Delayed Enrollment Penalties / Creditable Coverage
- High Income Medicare Premium Surcharges (IRMAA)
- Low Income Medicare Assistance Programs
- HSAs and Medicare Eligibility
- Cautions About COBRA
- Enrollment Process
This program concludes with Questions & Answers.
OUR SPEAKER: Tom Wright
About Tom Wright and the Turning 65 Workshop
Tom began his financial services career in 1980. He has experience in both employee benefits and retirement planning. In 2016 he created the Turning 65 Workshop to provide much-needed Social Security & Medicare learning programs for the workplace.
Tom has spoken to audiences throughout the Northeast. He’s known for his ability to communicate dry, complex financial material in an engaging and easy-to-understand way.
He’s been interviewed on various insurance topics by media outlets including; Kiplinger’s and Fortune magazines, The Boston Globe, and the Maine Matters television program. He recently appeared on the HR Power Hour radio show.
Over his career Tom has been involved in numerous trade associations, including the National Association of Insurance & Financial Advisors, American Association for Long-Term Care Insurance, and the Saco-Biddeford Chamber of Commerce.
He’s also a member of the Society for Human Resource Management (SHRM)
MassPay provides small to mid-sized businesses with a flexible, cloud-based Human Capital Management (HCM) solution, iSolved, to help businesses automate their HR & Payroll Management processes. This single database platform offers tremendous value to businesses, providing everything needed to manage the entire employee lifecycle. Capabilities include applicant tracking, new hire onboarding, in-depth employee profiles, benefits administration and open enrollment, Time & Attendance, workflows, advanced reporting, dashboards & analytics and performance reviews. The solution streamlines process, reduces the administrative burden, promotes a positive employee experience and keeps businesses in compliance with all Federal/State/Local laws, to help companies become better employers.
8:00 AM - 8:30 AM Check-In & Networking
8:30 AM - 8:45 AM Welcome New Members & Guests
8:45 AM - 9:00 AM Chapter Business / Legislative Update
9:00 AM - 9:10 AM Sponsor
9:10 AM -10:30 AM Program
LOCATION: Comfort Home Care, 147 Pelham Street, Methuen, MA 01844 - 2ND Floor
More information and online registration:Working to 65 and Beyond… Understanding Medicare, and its Impact on Group Health Coverage
*Join GMVRA’s LinkedIn group to share knowledge with your HR colleagues*
For more information:
Contact: Carolyn Foster