AlaskaCare Retiree Health News | Monthly e-newsletter
Alaska Department of Administration sent this bulletin at 10/31/2024 04:09 PM AKDTHaving trouble viewing this email? View it as a Web page.
Volume 73| October 2024 |
The new year is around the corner, and it is almost time to review your account and submit your 2024 Income Related Monthly Adjustment Amount (IRMAA) reimbursement request! Reminder: What is an IRMAA? Certain high-income retirees are required to pay an extra premium surcharge, known as an Income Related Monthly Adjustment Amount, or IRMAA. This is similar to the surcharge for high-income enrollees in the Medicare Part B plan. If you are an individual or a married couple earning more than the threshold, you will be required to pay an extra surcharge for being enrolled in the AlaskaCare Employer Group Waiver Program (EGWP) because it is a group Medicare Part D plan. Retirees whose household income is below this threshold will not be subject to the IRMAA premium surcharge. What do you need to know?
How do I know if I have to pay a Part D IRMAA surcharge in 2024? Each year, if you are Medicare-eligible, you will be notified by the Social Security Administration about your plan. This includes if you are required to pay an IRMAA and at what amount. The Social Security Administration uses your Modified Adjusted Gross Income (MAGI) to determine if the IRMAA applies to you and, if so, how much you will have to pay. MAGI is the sum of:
The Social Security Administration requests income information from the IRS for the tax year that is two years prior to the surcharge year. IRMAA is automatically re-determined each year as long as you file an income tax return. How to Set Up Your IRMAA Reimbursement with Optum Rx: Once you have your letter from Social Security or a Medicare Bill that shows your 2024 Part D IRMAA surcharge, you can submit your reimbursement request by following the instructions below. You may submit your documents early to OptumRx if you have them available, but claims received prior to January will not be processed until the start of the new year. Follow these steps to establish your 2024 IRMAA HRA account online:
If you have any questions on how to submit your documents online or if you do not have internet access and would like to submit paper documentation, please contact OptumRx at (855) 409-6999.
Medicare's Open Enrollment Period is happening! Visit Medicare.gov now through December 7 to compare all your coverage options. Alaska statute requires the AlaskaCare retiree plan become supplemental to Medicare when members turn 65. AlaskaCare will begin processing member’s health claims as if they have Medicare Part A & B on the first day of the month when they turn 65. All members should schedule an appointment with Social Security to apply for Medicare Part A & B within the three months prior to their 65th birthday. Part A (Hospital Insurance): Helps cover inpatient care in hospitals, skilled nursing facility care, hospice care, and home health care. Most people are eligible for premium-free Part A. After members apply for Medicare Part A & B, they will receive a decision letter from Social Security notifying them if they qualify for premium-free Part A. Members who do not qualify for premium-free Medicare Part A, should not enroll in Part A, they must provide a copy of the Social Security letter to the AlaskaCare health claims administrator and the Division of Retirement & Benefits, and AlaskaCare will continue to pay as your primary plan for Part A services. Part B (Medical Insurance): Helps cover physician and other outpatient medical services, ambulatory surgery center services, medical equipment, and ambulance services. Everyone is eligible for and must pay a premium for Part B, whether or not you are eligible for Part A. Part D (Drug coverage): Helps cover the cost of prescription drugs. Medicare-eligible retirees and/or dependents will be automatically enrolled in the AlaskaCare enhanced Employer Group Waiver Program (EGWP). The AlaskaCare enhanced EGWP is a group Medicare prescription drug plan that provides the same prescription benefits as provided to non-Medicare eligible retirees and dependents, while maximizing federal subsidies. You do not need to enroll into an individual Medicare Part D plan, and for most members there is no additional premium for prescription drug coverage under AlaskaCare. However, certain high wage earners will be charged an Income Related Monthly Adjustment Amount (IRMAA) surcharge for prescription drug coverage. Visit the IRMAA section on this webpage for more information.
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We Want to Hear From You!
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Retiree Town Hall Events are group calls hosted by the Alaska Department of Administration, Division of Retirement and Benefits for all interested AlaskaCare retirees and families to ask questions about the Defined Benefits AlaskaCare Retiree Health Plans. Town hall events typically occur on the third Thursday of each month, and you are welcome to join us. You can pre-register now online to join the call to learn more about your health plan and ask Division staff any questions you have about your benefits. This format gives retirees a chance to connect directly with the AlaskaCare team to hear the latest news on all things AlaskaCare, raise questions, share comments, and learn more about the health plans. Upcoming Town Hall Events: |
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Your input is valued and important. Below, please see a list of ways to contact us with your feedback. Also, a full list of AlaskaCare health plan and partner contact information can be found on our website. AlaskaCare – Plan Administrator
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Division of Retirement and Benefits Medical Benefits: Aetna Long-Term Care Benefits: Wellcove Services, Inc. Dental Benefits: Moda/Delta Dental Pharmacy Benefits: Optum Rx |