Recent survey results from existing Retiree Health Access^® companies noted:

From our surveys of Chief Human Resource Officers, there is general approval of the affordability and availability of medical coverage for retirees age 65 and older, those eligible for Medicare. However, that is not the case for pre-65 retiree coverage, both today and for the past two decades.

In 2006, HR Policy launched Retiree Health Access ^® (RHA ^®) in a collaboration with Aetna and several participating Association member companies. Since then, RHA has served more than 70 employers and more than 150,000 retirees. RHA is a unique integrated solution for pre- and post-65 group coverage options. The program also includes a multi-carrier individual post-65 solution. All exclusively for HR Policy members’ companies.

Additional information about Retiree Health Access ^® can be found here.

Key Concerns Among HR Policy Members Regarding Retirees

of those 50 to 64 are deferring retirement due to the high cost of healthcare coverage.

Recent surveys of HR Policy members have identified the following concerns regarding the current state of retiree medical care:

• The cost of pre-65 medical coverage
• Employees delaying retirement to maintain health care coverage until they become Medicare eligible
• The disadvantages associated with grouping pre-65 retirees in the same risk pool as active employees
• The inadequacies of the pre-65 individual marketplace
• The adverse tax treatment of health care coverage purchased by retirees directly
• The challenges of retiree medical financing and the use of employer subsidies
• Overall benefit administration, communications and education

Retiree Health Access ^® in its present form already addresses several of these concerns.  In addition to the current program, the Health Care Policy Roundtable continues to innovate and has several initiatives underway to provide an even more effective solution.

An in-depth paper prepared by the Health Care Policy Roundtable describing the principal concerns of HR Policy Association members regarding retiree health care can be viewed here.

Recent testimonials from existing Retiree Health Access^® members:

To learn how one carrier is responding to HR Policy member concerns, please see this paper regarding the five things corporate executives need to know about developing a workable solution to the pre-65 retiree benefit pain point.

Please contact HCPR should you be interested in additional information.

Disclosures

This video is intended only for the use of the individual or entity to which the package containing the mailing is addressed, and may contain confidential information.

The information contained herein is not for further distribution without the express consent of Prudential Retirement. This video describes product concepts that are not final. It has been prepared for discussion purposes only. It is not an offer to enter into any agreement. This video does not completely describe the terms of any potential transaction or final product design, and any transaction or product design would be subject to applicable legal and regulatory requirements, as well as internal, legal and regulatory approvals, including final legal documentation and approval of the related insurance contract by the applicable state insurance regulator.

If and when Prudential offers any insurance contract in connection with the product concepts outlined in this document, Prudential will price it separately, to the Contract Holder, from any Aetna contract, and the Contract Holder will not be required to purchase the Prudential contract as a condition to purchasing any Aetna contract. In addition, if the Contract Holder purchases the Prudential contract, that contract will remain in effect if the Contract Holder or Aetna terminates or does not renew the Aetna contract and the Contract Holder enters into a comparable replacement program with an insurer other than Aetna, subject to Prudential’s approval of the replacement program, which shall not be unreasonably withheld. The Experience Refund guarantees that 95% of annual unused benefits are returned to the Contract Holder or carried forward for future years’ eligible healthcare expenses.

Prudential does not provide legal, regulatory, tax or accounting advice. Therefore, any plan sponsor and its advisors should seek legal, regulatory, tax and accounting advice regarding the legal, regulatory, tax or accounting implications of the insurance contract. This information is provided with the understanding that the recipient will discuss the subject matter with its own legal counsel, auditor and other advisors. Insurance and reinsurance products are issued by either Prudential Retirement Insurance and Annuity Company (PRIAC), Hartford, CT, or The Prudential Insurance Company of America (PICA), Newark, NJ. Both are wholly owned subsidiaries of Prudential Financial, Inc. Each company is solely responsible for its respective financial condition and contractual obligations.

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© 2020 Aetna, Inc. Aetna is the brand name used for products and services provided by one or more of the Aetna group of subsidiary companies, including Aetna Life Insurance Company and its affiliates (Aetna). Information is believed to be accurate as of the production date; however, it is subject to change. For more information about Aetna plans, refer to www.aetna.com. Health benefits and health insurance plans contain exclusions and limitations.