IBM - Go Live
This is a manditory quiz
- 1.We should always collect at least the Primary Care Physician and enter it in the SSC for all IBM retirees.
- A.
True
- B.
False
- 2.What are the HRA eligibility requirements for people in the “Prior Plan, Losing Group Medical and Rx Coverage” segment?
- A.
They have an HRA exception, they just have to call Extend
- B.
They must buy a medical plan to qualify
- C.
They must buy a medical and/or drug plan to qualify
- 3.What are the HRA eligibility requirements for people in the “Prior Plan, No Current Medical Coverage, Losing Group Rx Coverage” segment?
- A.
They have an HRA exception, they just have to call Extend
- B.
They must buy a medical plan to qualify
- C.
They must buy a medical and/or drug plan to qualify
- 4.What are the HRA eligibility requirements for people in the “FHA, Kaiser, Losing Group Medical and Rx Coverage” segment?
- A.
They have an HRA exception; they just have to call Extend. But we should still offer to compare the options we have available on our exchange.
- B.
They must buy a medical plan to qualify
- C.
They must buy a medical and/or drug plan to qualify
- 5.What is a FHA?
- A.
Future Health Account
- B.
An interest earning account that some IBM retirees have set up to pay for their current group premiums
- C.
An account Fidelity administers
- D.
All of the above
- 6.IBM is giving retirees two HRA options. What are they?
- A.
Retirees can choose a higher HRA amount that would waive any spousal survivor benefits, or they can elect survivor coverage which will lower their HRA amount but gives their spouse a death benefit upon the retirees passing
- B.
They can opt to have their HRA put in a joint or separate account
- 7.Why would a retiree opt for the higher HRA amount?
- A.
To be mean-spirited to their spouse
- B.
If a retiree is divorced or they are single, it may be beneficial to waive the survivor benefit in exchange for a higher HRA amount
- 8.Why would they opt for the lesser HRA amount?
- A.
Because financially they just don’t need the money
- B.
Taking the lower amount will insure that their spouse receives 50% of the HRA upon the retiree’s passing
- 9.How will IBM retirees elect which HRA they would like?
- A.
They will call Extend Health and we will capture what election they have decided
- B.
They will receive a letter from Budco in November that contains an election form that the retirees will need to fill out and send back to Budco
- C.
They will call Fidelity to capture their election
- 10.If retirees do not make an election, what will happen to their HRA?
- A.
They will lose it
- B.
They will default to the higher amount without the surviving spousal benefit
- C.
They will default to the lower amount with the surviving spousal benefit
- 11.If you are asked a question and you aren’t 100% sure about the answer, you should…
- A.
Ask InfoSource
- B.
Ask InfoSource
- C.
Ask InfoSource
- D.
All of the above
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