The South Dakota Bankers Benefit Plan Trust, in association with Wellmark Blue Cross Blue Shield, introduced a new employer group retiree program (EGRP) providing Medicare supplement coverage to retirees. This is a program banks can offer at no cost while still providing valuable benefits to retired bank employees and their spouses.
On Jan. 1, 2020, the federal government stopped providing Medicare Plan F in the individual market. Plan F was the most popular plan for both new and existing Medicare enrollees. Now, individuals turning age 65 after Jan. 1, 2020, are no longer able to purchase this popular plan on their own. Fortunately for members of the SDBA, Plan F is now available through the EGRP from Wellmark BCBS, a trusted medical insurance provider in South Dakota for more than 75 years.
Details on how to participate in this new group Medicare program have been mailed to all member banks currently participating in the Association’s health insurance program. If you have any questions about this new program, contact Dean Franzen with the SDBIS at 605.220.4219 or via email. Or read his column on page six of the March SDBanker Magazine.