October 2022 Workshop: Medicare changes and U of M retiree health plans
The first part of UMRA’s 2022 health plan workshop featured representatives from HealthPartners: Barbara Cox, vice president for Legislative and Regulatory Affairs, and Amy Schultz, director of Medicare Programs. They discussed the changes in Medicare provisions included in the Inflation Reduction Act, which was passed by Congress earlier this year. These changes primarily affect drug coverage. They include:
- Medicare will be allowed to negotiate prices for 60 high-priced drugs;
- insulin and vaccine costs will be lowered in 2023;
- drug manufacturers will be required to give inflationary rebates in 2023;
- the “doughnut hole” in Medicare drug coverage will be eliminated in 2025; and
- Part D premium growth will be capped at 6 percent per year, 2024–30.
Individuals may see some reduction in costs due to these changes. However, the changes are subject to legal challenge and congressional action.
The second part of the workshop was a presentation by Katie Kolodge, health and wellbeing consultant with the University’s Office of Human Resources (OHR). She began by describing the things that set U of M retiree plans apart from other, lower-premium plans. These include:
- richer pharmacy coverage;
- lower out-of-pocket costs and plan maximums for care;
- vendors and plans vetted by the University; and
- the convenience of having plans readily available at retirement
For 2023, there are few changes in the U of M plans. Detailed information can be found in the 2023 Benefits Enrollment Guide, by calling OHR at 612-624-8647, and by talking to individual vendors.
Open Enrollment in the University’s plans continues until November 30. Note that this is earlier than the December 15 ending date for general Medicare Open Enrollment.
During University Open Enrollment, those who already have University plans can continue with those plans, switch to other University plans, or leave the University plans. However, if you leave the University’s plans, you cannot return.
—Ron Matross, UMRA president
Medicare changes and your U of M health insurance options for 2023
Tue, October 18 2022, 11am
Representatives of Health Partners and the U of M Office of Human Resources
Event to be held via Zoom.
The Inflation Reduction Act of 2022 includes significant legislation on prescription drug prices. To understand the potential impact on each of us as individuals, UMRA’s October health insurance workshop will feature a discussion of the legislation and what it means for beneficiaries of Medicare.
Our presenters on this topic will be two experts from Minnesota-based HealthPartners, the largest consumer-governed nonprofit health care organization in the country: Barbara Cox, vice president, Legislative and Regulatory Affairs, and Amy Schultz, director, Medicare Programs.
Staff from the University of Minnesota Office of Human Resources (OHR) will then present their annual update on the University’s retiree health plans, including how the U of M plans compare to other plans, how to get detailed information on specific plans offered through the University, and how the annual enrollment process works.
Following the presentations, workshop attendees will have an opportunity to ask questions of the HealthPartners and OHR presenters.
The workshop will be a virtual presentation via Zoom webinar from 11 a.m. to 12:15 p.m. on Tuesday, October 18. Please register and mark your calendars to attend this important workshop.
Open Enrollment begins November 1.
—Ron Matross, UMRA president
Upcoming Events
Our July 15 "hike" is going to be a kayaking adventure on Bde Maka Ska (formerly Lake Calhoun) and Lake of the Isles! If you don't have a kayak (or paddleboard), Wheel Fun Rentals, located next to the new concession stand rents single kayaks at $15 an hour and double kayaks at $25. The second hour is free if we rent before noon. Life jackets are provided with the rental.
Laura Ericksen will lead the discussion of How Stella Learned to Talk by Christina Hunger, a true story by a speech-language pathologist who taught her dog, Stella, to communicate using buttons associated with different words.
Our August 5 hike will be a reprise of our hike last summer at William O'Brien State Park. This is a beautiful park with a winding trail and a great view of the countryside. The hike is about 5.5 to 6 miles and we'll go at a moderate pace with frequent water breaks. After the hike, we will eat lunch at Rustic Roots Winery, a half mile north of the park.
Kathy Cramer will lead the discussion of The Bookbinder by Pip Williams, a book set in 1914 Oxford chronicling the life of Peggy who works in the University bindery, but craves a life beyond binding books but to being a scholar herself.
Enjoy a two-hour cruise on the Jonathan Padelford, leaving from the Harriet Island dock in St. Paul, boarding time at 5:30 p.m. We will have a brief program on board by Patrick Nunnally from the River Life Program of the Institute on the Environment.
August 31 is the due date for annual reports and updates. Annual Reports, Toolkits, web page updates, operating document updates and archives collections are all due each year on this date.
Autumn is a wonderful season in Minnesota so plan to join UMRA at the Andersen Horticultural Library at the Minnesota Landscape Arboretum. Kristen Mastel, head librarian and curator, will reveal its treasure trove of publications and artifacts relating to plant history, horticulture, and natural history. After the tour, those who are interested may stay to eat lunch together, sitting outside if the weather is nice. Later, you are invited to a one-hour tram tour of the entire Arboretum that includes natural areas of flowering shrubs, bogs, and forests, family garden and landscaping showpieces, and the red barn farm
After a summer break the UMRA Photo Club will next meet September 10, 2024 in the meeting room of the Hennepin County St. Anthony Branch Library. For those interested in lunch, meet at the Great Dragon at 11:30 am. For September the THEME will be Curves
We will continue to discuss the pros and cons of Medicare Advantage. You will also hear about notable non-health plan and non-broker resources.