Many employers are looking for options to help older (65+) employees and retirees save on their healthcare costs.
Medicare is often the best option for this age group, but federal regulations prohibit employers from making direct premium payments for Medicare or Medicare-related coverages.
Fortunately, employers have options that do meet federal guidelines:
- Employer-sponsored Medicare Advantage Employer Group Waiver Plans (EGWPs) for retirees come with certain requirements by the Center for Medicare and Medicaid Services (CMS).
- Health Reimbursement Arrangements (HRAs) give active employees and retirees a way to receive reimbursements for premiums and medical expenses.