Setting your employees up for Medicare success

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Since your employees likely aren’t certified Medicare experts, they may be looking to you to answer their Medicare questions.

But choosing the right plan and knowing when to enroll in Medicare is more complicated than ever considering that there are double the number of individuals working past age 65 today compared to 1987. We can help you cover your bases when it comes to assisting employees in planning for their future.

How to support your soon-to-retire employees

As an HR professional, you play an important role in answering your employees' benefit questions. There are things you expect them to have questions about: 401(k), core medical coverage, vision and dental coverage. But when it comes to Medicare, the conversation can be more complex—and potentially more costly if misunderstood.

For example, if an employee were to sign up late for Medicare, they could face a lifelong penalty with their premium payment, amounting in an average 29 percent higher premium. To top it off, your employees might not even know this penalty exists.

Here’s how you can help employees feel prepared for retirement knowing they are making the best Medicare decision for themselves.

Reach out to Wellmark’s dedicated Medicare consultants.

Wellmark's team of Medicare consultants can set you up for success when employees come to you with questions. They will:

• Send you educational materials for employees who prefer to have the materials in-hand.
• Provide resources that directly connect your employees with a Medicare expert.
• Attend Open Enrollment meetings to help answer questions.
• Host a Medicare seminar.

When you reach out to a Medicare consultant at Wellmark, they’ll identify tailored Medicare solutions that fit both your needs as the employer and the needs of your retiring workforce.

Have conversations early and often.

Create an environment in your workplace where employees feel comfortable seeking out information and have it readily available. Wellmark has great resources, such as these ready-to-share articles from Blue^SM.

When you work with a Medicare consultant, they may recommend a one-on-one meeting with a Medicare expert for Medicare-eligible or soon-to-retire employees. When you direct employees to reach out to a Wellmark expert, they can expect a thorough review of their lifestyle and health care needs, such as prescription drug usage, providers they see and services they utilize. Then the Medicare expert can help them make the right choices for their unique situation.

Additionally, if you have many soon-to-be Medicare eligible employees, a Medicare seminar is a great way to educate them all at once and get their questions answered as a group. Reach out to a Medicare consultant to learn more.

Refer employees to trusted external resources.

There are many free, personalized, non-biased resources for employees who are getting ready to enter the Medicare market. Consider checking out the Senior Health Insurance Information Program (SHIIP) for Iowa employees or the Senior Health Information and Insurance Education (SHIINE) for South Dakota employees enrolling in Medicare.

Meet a Medicare consultant on our podcast

Hear Medicare group consultant, Tyler Elliot, discuss how Wellmark can help you and your employees navigate the many parts of Medicare on the Health Matters podcast.

Questions?

Wellmark offers help from a team of Medicare consultants with over 75 years of combined experience to connect you and your employees with the right resources. To get connected, reach out to a Wellmark Medicare Consultant today.

If you are an employer group outside of the state of Iowa or South Dakota, go to BCBS.com to find a Blue Cross Blue Shield plan near you.