Early retirement plan increases lifetime maximum
The lifetime maximum benefit for each individual covered under the Railroad Employees National Early Retirement Major Medical Benefit Plan (United HealthCare's Policy GA-46000) is adjusted each year based on the medical cost component of the Consumer Price Index.
In the first year of this new provision enacted to coincide with the changes in Railroad Retirement, the lifetime maximum benefit was increased to $79,000. As of January 1, 2003, this maximum will increase again from $79,000 to $84,000. The $5,100 in additional benefits payable applies to expenses incurred on or after January 1, 2003.
An important consideration for individuals thinking about retirement is health coverage after retirement. The information below summarizes the requirements under the new legislation.
For Age Annuitants:
For Disability Annuitants:
In addition to the changes in eligibility rules, the lifetime maximum under GA-46- will be adjusted each year by the medical cost component of the Consumer Price Index. The lifetime maximum for 2003 will be $84,100.
If you retire and are eligible for GA-46000, you can also purchase supplemental coverage under GA-23111, Plan E. Generally, Plan E pays 70% of the expenses not paid under GA-46000 and has a lifetime maximum of $200,000.
When you retire, your railroad will not report you to United Healthcare as a retiree eligible for GA-46-000. You must enroll yourself and your family with United Healthcare. You can do this in two ways:
If you have any questions about this, call United Healthcare at (800) 842-5252.
© 2003 Brotherhood of Locomotive Engineers