Getting news that your employer can no longer afford your health benefits can be a big blow, however it doesn’t have to end up as a bad situation. In many cases, employers augment pension funding and provide educational materials that help employees make the transition to individual plans. The key to saving time, money and effort is to understand the current situation and make a plan that addresses it. We have compiled a number of articles and orientation materials to help you get started (see the links to the left). The first steps:

• Know all the facts. Understanding exactly what benefits will be affected -- and how -- can help you zero in on the products you'll need.

• Understand your options. There are big differences between major retiree health plans, like Medicare Advantage, traditional Medicare, Medicare supplement plans and Medicare prescription plans. Knowing which plan – or combination of plans – is a fit for you could save thousands every year and better meet your specific needs.

• Know all the deadlines. Understanding when programs will expire can help you build a timeline for starting new ones.

• Take your time. Programs rarely expire overnight and giving yourself time to explore all the options can help build long-term confidence in your plan.

• Get multiple quotes. Shopping around for different insurance and financial plans can also boost your confidence that you've made the right decision.

After reviewing the materials, if you have any questions, our licensed advisors will be happy to help.

Sincerely,

Steven Zaleznick

President and CEO