| SECTION II – HEALTH |
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| Health |
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| Q1. |
My health insurance has increased significantly in cost. Why is this? |
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| A1. |
There are many factors that contribute to an increase in healthcare costs. Participation in the plan and claims experience in that plan can cause an increase or decrease in cost. Other cost factors are general price inflation; aging of the population, price inflation for medical services provided and increased cost for newer medical technology. Verizon continually reviews its’ healthcare programs and each year implements initiatives that help to reduce cost and improve efficiency of healthcare delivery for you and the company. |
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| Q2. |
I have questions regarding the billing notice that I received for my benefits. Who do I contact? |
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| A2. |
You may view your billing information online. Just log on to Your Benefits Resources at www.verizon.com/benefits (user ID and password required) and click on “Billing Information”. You may
also contact the Verizon Benefits Center at 1-877-4VzBens (1-877-489-2367). At the main menu select “Healthcare”, then “Direct Billings and Payments”. Representatives are available to assist you from 8:00am to 6:00pm EST, Monday – Friday. |
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| Q3. |
What is a “cap” and how does it affect me? |
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| A3. |
If you are subject to a cap, the dollar amount that Verizon contributes is limited. Once the maximum amount is reached, Verizon’s contributions towards your premium will not increase as it did prior to the cap. |
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| Q4. |
Can I just take the company contribution in cash and purchase my own healthcare plan? |
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| A4. |
At this time, the Verizon retiree healthcare plans do not allow for direct distribution of the company subsidy, but should that policy ever change, Verizon
will notify you. |
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| Medicare |
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| Q5. |
What is Medicare? |
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| A5. |
Medicare is a government-funded program that provides you with basic medical coverage. Medicare is made up of two parts:
Part A and Part B.
- Part A covers hospitalization and similar services, and automatically takes effect when you apply for social security benefits. (If you are not applying for social security benefits, you can apply separately for Medicare benefits).
- Part B covers outpatient and doctors’ visits, as well as many other services, and also takes effect automatically when you apply for social security benefits. You pay a small monthly premium for Medicare Part B, which will be deducted from your social security check.
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| Q6. |
When am I eligible for Medicare and how do I apply? |
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| A6. |
You become eligible for Medicare generally at age 65 or before age 65 under certain circumstances, such as disability. Please visit www.medicare.gov or call the Social Security Administration at 1-800-SSA-1212 (1-800-772-1212) for updated information or answers to additional questions about Medicare. |
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| Q7. |
How does my Verizon coverage work with Medicare? |
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| A7. |
Once you become eligible for Medicare, this becomes your primary plan – the plan that pays benefits first. Your Verizon plan becomes your secondary
plan and benefits are coordinated. Your Verizon plan will pay any remaining balance up to the plan maximum, so the total amount paid (Medicare and Verizon)
does not exceed the amount the Verizon plan would have paid on its own. When coordinating your benefits with Medicare, Verizon assumes that you have both
Parts A and B Medicare coverage, even if you have not enrolled. If you are not enrolled in Medicare Parts A and B, you may not receive all the benefits
you may be entitled to receive. |
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| Changing Current Coverage |
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| Q8. |
When can I change my coverage options? |
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| A8. |
If you are eligible for Anytime Enrollment, you can make changes at any time. To change your benefit elections at any time during the year, log on to Your Benefits Resources at www.verizon.com/benefits (user ID and password required). You may also call the Verizon Benefits Center at 1-877-4VzBens (1-877-489-2367). Representatives are available to assist you from 8:00am to 6:00pm EST, Monday – Friday.
Your changes will be effective the first of the month following a 31-day waiting period. However, certain changes due to qualifying life events are effective as of the date of the event.
If you are not eligible for Anytime Enrollment, you can make changes during the annual Benefits Renewal period. If you experience a qualified life event, such as the birth or adoption of a child, marriage, or retirement, you may be eligible to make changes to your current coverage. For more information or to make a change, log on to Your Benefits Resources at www.verizon.com/benefits (user ID and password required) within 60 days of the life event. |
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| Q9. |
I am on a fixed income and can’t afford the increase in my healthcare cost? What can I do? |
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| A9. |
Review and consider other lower-cost alternatives that may be available to you. For more information about your available options, please visit Your Benefits Resources at www.verizon.com/benefits (user ID and password required). |
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| Q10. |
My spouse has passed away and I need to update my benefit information. Who do I contact? |
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| A10. |
You may contact the Verizon Benefits Center at 1-877-4VzBens
(1-877-489-2367). At the main menu select “Life and Disability”, then select “Report
a Death”. Representatives are available from 8:00am to 6:00pm EST, Monday – Friday. |
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