How Does PERACare Compare to Other Options?
When we launched PERACare in the early 1980s, it was the main option for retiree health benefits aside from original Medicare. Today, there are many other plan options available.
We strive to offer comprehensive PERACare plans that meet the needs of many retirees, but we recognize that our plans might not be the best fit for everyone. We encourage you to look at all your options to find a plan that’s right for your health care needs and budget. Here are some tips for comparing coverage:
Where to shop for coverage
If you’re eligible for Medicare, you can shop for individual Medicare Advantage and Medicare Supplement plans. Open enrollment for individual Medicare plans is October 15 to December 7.
- Online: Visit the Medicare website and click on ‘Find health & drug plans’
- Phone: Call the State Health Insurance Assistance Program (SHIP) at 888-696-7213 to receive personal assistance.
If you’re under age 65 and not yet eligible for Medicare, you can shop for coverage through the individual marketplace in your state. Open enrollment for marketplace plans is from November 1 to January 15.
- Colorado residents: Connect for Health Colorado
- Retirees living outside of Colorado: Health Insurance Marketplace
How to compare benefits
There are a lot of factors to consider when comparing plans. Here are some of the costs and other plan features we recommend looking at:
- Plan premium: How much will the plan cost you monthly and annually?
- Provider directory: Are the doctors and other providers you use frequently included in the plan network? Is there coverage for out-of-network providers, and if so, how much does it cost?
- Covered medications (formulary): Are the medications you take covered?
- Deductible/coinsurance/copays: Depending on the structure of the plan, it may include some or all these costs. Be sure to look at the differences for all types of care (doctor visits, prescriptions, inpatient hospital stays, emergency care, etc.).
- Out-of-pocket maximum: What’s the maximum amount you’ll pay out of pocket each year under the plan?
- “Metal” levels: For non-Medicare plans, the “metal” level can give you a general idea of how generous a plan’s coverage is. For example, a Gold plan is generally going to offer more generous coverage and a lower deductible than a Silver or Bronze plan.
- Additional benefits: Does the plan include any other benefits, such as hearing, vision, dental, fitness center memberships, etc.?
