1 What is Medicare? Medicare is a government program developed for the nation’s aged to provide financial benefits for health related occurrences. Typically, you qualify for Medicare when you:  Turn age 65  Become permanently disabled  Diagnosed with End Stage Renal Disease (kidney failure) Medicare 101

2 The Four Parts of Medicare...  Part A – Inpatient Hospital - No cost - Benefit period deductible $1,184  Part B – Outpatient Services - $104.90/month - Annual deductible, $147 - After deductible, 80/20 Coinsurance  Part C – Medicare Advantage Plans - Type of Medicare insurance plan - Assignment of benefits - Purchase through a private insurance company  Part D – Prescription Drug Program - Deductible/No deductible - Level 1 coverage (cost sharing until $2,970 is spent) - Level 2 coverage (“donut hole”, cost sharing until $4,750 is spent) - Level 3 coverage (catastrophic coverage) - Purchase through a private insurance company Original Medicare Medicare 101

3 How to enroll in the four parts of Medicare  Initial Coverage Election Period (ICEP) - 7 month window for newly eligible Medicare beneficiaries - Enrollment is done through Social Security Administration  Special Election Period (SEP) - Allows for special circumstances  Part B General Enrollment Period - 1/1 – 3/31, coverage begins 7/1  Annual Election Period (AEP) - 10/15 – 12/07  Penalties for late enrollment - Part B: 10% of the Part B premium for each year you were eligible, but didn’t enroll - Pard D: 1% of the Part D benchmark for each month you were eligible, but didn’t enroll Medicare 101

4 Enrollment  Minneapolis Public School Retiree Plan through Medica - Monthly premium of $242 per month - Offers prescription coverage through the ‘gap’ - Low medical copayments with a max out of pocket of $ Value Added Benefits Silver Sneakers Medication Management Therapy Extended Absence Option Eyewear and Hearing aid Benefit Group Prime Solutions

5 Enrollment For more information on the Retiree Health Plan through Medica please contact: Der Vang Account Manager Stacy Alness Account Manager Group Prime Solutions