It is with great pleasure to announce that the Retiree Marketplace! The Retiree Welfare Plan is introducing additional health plan options to enhance coverage choices for retirees. The Retiree Marketplace will allow an annual plan selection to be made for a family’s non-Medicare individuals. If a retiree’s entire family is eligible for Medicare, no plan selection needs to be made due to Medicare being the family’s primary coverage.
Currently, there is only one Retiree Welfare Plan health plan option, Retiree Plan A. There will be three additional lower cost health plan options offered through the Retiree Marketplace:
- Retiree Marketplace Plan A – current available health plan option
- New! Retiree Marketplace EPO Plan (Pre-Medicare individuals only)
- New! Retiree Marketplace Gold Plan (Pre-Medicare individuals only)
- New! Retiree Marketplace Bronze Plan (Pre-Medicare individuals only)
Choosing a lower-cost plan will enable retirees who are eligible to make a plan selection to stretch their pension dollars as well as their Retiree Medical Savings Plan (RMSP). For assistance in determining whether you have an RMSP, please refer to your My150 account.
Who does not need to make a plan selection?
- Members that retired before July 1, 2011
- Members that have an entire family that is eligible for Medicare
- Medicare is the family’s primary coverage
- The family would remain in Retiree Marketplace Plan A
Who can select a different plan?
- Members that retired on/after July 1, 2011 that are not eligible for Medicare:
- Can compare plan options and make a plan selection
- The health plan they select would be for themselves and each dependent(s) that are not eligible for Medicare
- Dependent(s) that are eligible for Medicare will remain in Retiree Marketplace Plan A
- Members that retired on/after July 1, 2011 that are eligible for Medicare with at least one dependent that is not eligible for Medicare:
- Can review plan options and make a plan selection that would be for each dependent(s) that are not eligible for Medicare
- The retiree and each dependent(s) that are eligible for Medicare will remain in Retiree Marketplace Plan A
- Surviving Spouses that are not eligible for Medicare can compare plans and make a plan selection for themselves and their dependent(s) that are not eligible for Medicare. If they have dependents that are eligible for Medicare, they will remain in Retiree Marketplace Plan A.
Annual Retiree Marketplace Plan Selection:
Every year in October, members that retired on/after July 1, 2011 that meet the participation requirements will have the opportunity to compare plan options and make a plan selection for coverage beginning January 1 of the following year.
Adding and removing dependent(s) is not part of the annual plan selection process. If you need to add or remove dependents, please contact the Fund Office. Credit transfers from an active credit bank to a Retiree Medical Savings Plan (RMSP) account is also not part of the annual plan selection process.
Outside of the annual plan selection timeframe, health plan downgrades and plan changes due to a Life Changing Event are not available. However, during the designated periods (annual plan selection timeframe), we are happy to assist with your health plan needs.
When an active member retires on or after January 1, 2026, and is eligible for RWP coverage, they will be required to select a Retiree Marketplace plan at the time of their retirement, provided they meet the plan selection participation requirements
Reminders & Disclaimers
- A plan selection can be made for retirees/spouses/dependent(s) that are not eligible for Medicare
- All individuals in the family that are not eligible for Medicare must be on the same health plan
- Once an individual is eligible for Medicare, they will automatically be enrolled into Retiree Marketplace Plan A
The Fund Office will be hosting a Zoom meeting in September. All retirees that are eligible to make a plan selection in October will receive more information in the mail along with a Zoom meeting, save the date. If you are invited and are unable to attend, the Fund Office is going to post a copy of the recording on our website (local150.org/moe/) following the meeting. Additional information will be provided by the Fund Office as it becomes available.