Newton Independent
Whirlpool continues to keep Maytag retirees abreast of changes it plans to enact to their health care coverage beginning in 2011.
Starting Jan. 1, there will be two medical plan options offered for pre-Medicare retirees and dependents that will replace the current 80/20 and 70/30 retiree plans.
The "Rewards Plan" is a preferred provider plan similar to the current 80/20 benefit. It has in- and out-of-network benefits and the networks will not change, allowing retirees to continue to see the same providers.
However, the new plan has two different levels of benefits with Level 2 providing better benefits, such as a $500 deductible and $2,000 out-of-pocket limit. But to be eligible for Level 2 benefits, retirees must complete four "healthy behavior activities," such as wellness exams and routine vision screenings. Level 1 plans have higher deductibles and out-of-pocket expenses.
The second option for Maytag retirees will be the "Savings Plan," a medical benefit plan with a health savings account, a tax sheltered savings account for healthcare expenses. Though the plan has higher deductibles, retirees are eligible to deposit tax free money into the account to help offset that expense.
Whirlpool first notified Maytag retirees of the pending health care benefit changes in a letter in January.
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