GE Retirees Need to Know This Before Purchasing Through OneExchange – Important Medicare Update

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GE recently mailed out a letter letting some 130,000 retirees know they are dropping their health insurance and sending them through an exchange offering a "wide" variety of options. At best I found 3 companies to choose from out of 20 or 30 actually available.

The letter states…GE will provide eligible retirees a Retirement Reimbursement Account of $1,000 who enroll in a Medicare supplemental AND/OR prescription drug plan through OneExhange.

In order to qualify for the reimbursement you can either enroll in a prescription drug plan OR and Medicare supplement.

If you read in the Medicare and You guide you will see that all plans of the same letter are identical and the only difference is price.

This means you can shop around and find the best priced plans and stretch your dollars further and keep more of your hard earned money in your pocket.

The choice is ultimately yours to make whether or not you want to spend more on the exact same coverage. The difference is in the hundred or even thousands of dollars in savings over what you're being offered.

The letter also states that OneExchange employs non-commissioned licensed staff to aid in choosing a plan. As an independent broker, I earn a percentage of the premium as compensation and so does any "exchange" therefore one should wonder why they would offer higher priced plans than what's actually available.

GE Retirees Need to Know This Before Purchasing Through OneExchange – Important Medicare Update

5 thoughts on “GE Retirees Need to Know This Before Purchasing Through OneExchange – Important Medicare Update

  1. What I have been told by GE is that you cannot use the thousand dollars on
    a supplement plan outside of One Exchange..The thousand dollars is a credit
    toward either or a supplement plan or drug plan through One Exchange…

  2. The $1000.00 is set up with One Exchange.They will not reimburse you for
    policies purchased outside their company.G.E. made them the administrator
    of retirees health benefits.

    • +Henry Stanton I have made several inquiries about this. My sources
      explained to me that as long as you get at least the PDP through
      OneExchange you are eligible for the $1,000 reimbursement. The way it’s
      handled is by submitting a claim form to OneExchange. Simply by showing
      proof of the transaction from the supplement insurance company they will,
      even if it’s not through OneExchange, reimburse you for that monthly,
      quarterly, semi-annual or annual premium up to $1,000 for both the PDP and
      supplement. Again, the letter clearly states “and/or” in order to be

  3. 11/6/15 Please remove my earlier post as I have been informed by a One
    Exchange supervisor that I can purchase a supplement policy outside of One
    Exchange and be reimbursed through the Retiree Reimbursement Account.

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