Aon Retiree Health Exchange Transition Guide

Transcription

1 Aon Retiree Health Exchange Transition Guide New Health Care Coverage Options and Resources for Medicare-Eligible Retirees, Survivors, Long Term Disability Participants and Their Eligible Dependents.

2 Welcome to the Aon Retiree Health Exchange (the Exchange). The Exchange provides you with voluntary health coverage options and the support you need to make the best decisions for your situation. Aon has been a leader in this space since 2010 and is the only exchange recommended by the National Council on Aging for continually meeting and exceeding rigorous standards of excellence. Through our exchange, you and your eligible dependents get: Choices across Medicare Supplement (Medigap), Medicare Advantage and Medicare Cost Plans, letting you explore options that fit your needs and budget. Flexibility to enroll each covered individual in the best plan for him or her. Tools and resources to compare your choices and the associated costs and enroll online. Objective, personalized support from a certified, licensed Benefits Advisor who will help you choose the best plan and enroll. Ongoing support from an advocate throughout the year at no cost to you for help with claims, billing, appeals and more. You may enroll for the first time through the Exchange during the Special Enrollment Period for coverage that takes effect July 1, Then you ll have an opportunity to enroll each fall for coverage for the following year, similar to the timing you follow today Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Your current coverage is in effect: January 1 through June 30, 2018 Special Enrollment Period: April 1 through June 30, 2018 Coverage period: July 1 through December 31, 2018 Open Enrollment for 2019 coverage: October 15 through December 7, Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec 2019 coverage period: January 1 through December 31, 2019 You must enroll through the Exchange or obtain other health coverage by June 30 to have coverage on July 1. Your participation in the Prudential Retiree Medical Program ends June 30, Aon Retiree Health Exchange Transition Guide

3 What Is the Aon Retiree Health Exchange? Medicare Part A and Part B will continue to be your primary insurance coverage. Today, you may be enrolled in group health coverage through Prudential either the Retiree Indemnity Medical Program or a Medicare Advantage or Medicare Cost Program. You may choose to enroll in coverage through the Exchange for coverage that takes effect after Prudential s group health coverage terminates. Through the Exchange most participants have access to a variety of carriers competing for their business. Typically, you can choose a Medicare Advantage, Medicare Cost or Medicare Supplement (Medigap) Plan: Type of Plan Description Does it come with Prescription drug coverage Dental coverage Vision coverage Medicare Advantage Plan Medicare Cost Plan Medicare Supplement Plan Each Medicare Advantage Plan provides all Part A and Part B services offered by Medicare, but can do so with different rules, costs and restrictions that can affect how and when you receive care. Each Medicare Cost Plan provides all Part A and Part B services offered by Medicare, but can do so with different rules, costs and restrictions that can affect how and when you receive care. Also called Medigap plans, these plans pay some of the health care costs that Medicare doesn t cover. Some of these plans also offer coverage for services that Medicare does cover, like medical care when you travel outside the U.S. If you enroll in a Medicare Supplement plan, Medicare will pay its share of the Medicare-approved amount for covered costs. Then your Medicare Supplement plan will pay its share. Most Some Some Some Some Some No No No With so much to choose from and the competitive nature of the Exchange, there s a chance you could pay less for medical and prescription drug coverage that is equal to or better than the group health coverage you currently have through Prudential. Prescription Drug, Dental and Vision Coverage Also Available If the coverage you choose does not come with prescription drug, dental and/or vision coverage, you can choose separate plans for prescription drug, dental and/or vision coverage through the Exchange. This way you can round out your total health care coverage. As with medical coverage, you ll have access to a variety of carriers and plans. Please note: Prudential s group health coverage for dental and vision coverage is not terminating at this time. If you want to continue your current coverage under the Prudential Dental Discount Program and/or the Prudential Retiree Vision Care Insurance Program, you can. The Vision Discount Program will continue to be provided to you at no cost. Aon Retiree Health Exchange Transition Guide 3

4 Who Is Eligible One-Time Enrollment Rule Eliminated Currently, retirees who retired on or after January 1, 2008, are only permitted to enroll in Prudentialsponsored retiree medical coverage one time. If that coverage is ever dropped, they are not permitted to re-enroll. Effective July 1, 2018, that rule will be eliminated. This means if your Exchange coverage is ever dropped, you will have the opportunity to re-enroll in the future and, if you are eligible for financial support from Prudential under the Credit Approach, you will receive a credit for your Exchange coverage. It also means retirees who do not currently have Prudential-sponsored coverage, for whatever reason, will be able to voluntarily enroll in coverage through the Exchange during Medicare Open Enrollment in the fall of 2018 (or any year thereafter), and their coverage will take effect January 1, 2019 (or January 1 of the next calendar year). Note, however, that surviving dependents and LTD participants who lose eligibility for financial support from Prudential as a result of dropping Prudential-sponsored retiree medical coverage or Exchange coverage will be able to re-enroll through the Exchange in the future, but will not receive financial support from Prudential. You are eligible for coverage through the Exchange if you are: A Medicare-eligible Prudential retiree, survivor or Long Term Disability (LTD) participant with a Benefits Eligibility Date on or after January 1, 2001;* or A Medicare-eligible dependent spouse/domestic partner or dependent child of an individual covered by the previous bullet. To be eligible for coverage through the Exchange, you must be: Living in the United States; and Enrolled in Medicare Part A and Part B. To be eligible to enroll during the Special Enrollment Period, you must be currently enrolled in Prudential-sponsored retiree medical coverage as of June 30, If you have an eligible dependent who is also eligible for Medicare, he or she has the opportunity to enroll through the Exchange as well. Your dependent can enroll in a different medical program option than the one you choose. You do not have to be enrolled with the same carrier or plan. This flexibility gives you the opportunity to tailor your coverage based on your needs. If you have an eligible dependent who is not yet eligible for Medicare, he or she will be eligible for Prudential group health coverage as long as you (the eligible Prudential retiree) stay enrolled in medical or prescription drug coverage through the Exchange. If currently covered under the Prudential Retiree Medical Program, your dependent will continue to be covered under the Prudential Retiree Medical Program. Information regarding default coverage for this dependent and the process for changing medical program options will be sent in advance of July 1, When your dependent becomes eligible for Medicare, he or she will be invited to voluntarily enroll through the Exchange. Until then, your dependent will have the opportunity to enroll in Prudential-sponsored coverage during Prudential s Annual Enrollment held each fall, if eligible. * From this point forward, unless otherwise noted, eligible retiree refers to Prudential retirees, survivors and LTD participants. 4 Aon Retiree Health Exchange Transition Guide

5 We ll Help You Make the Right Decisions The Exchange is new to you, but Aon has been offering the Exchange since 2010, and we currently have over 500,000 retirees participating nationwide. We are a leading Exchange provider and are therefore positioned to help you understand the transition to the Exchange and guide you through the process to help you make the best decisions for your unique situation. We ll work with you throughout the process leading up to your initial enrollment to ensure you take action as needed, and help you make the right decisions when you enroll. And we ll be available after you enroll to ensure you understand your coverage and to help you navigate your benefits. Make sure you take full advantage of the following resources: Now: Check out Benefits at Pru (at Information about the Exchange has been added to Benefits at Pru, including educational videos. Now through April: Attend a retiree education meeting in person or online. Refer to the enclosed Retiree Meeting Information flyer for details on when sessions are available and how you can register. Action: Sign up for the session you can attend. April: Look for your appointment letter and Medicare Insurance Guide in the mail. The personalized letter will include a date and time window for your telephone meeting with your Benefits Advisor and explain how you can prepare for the meeting. It will include your enrollment website login details and include information about how you can start comparing your options. Action Required: Call to confirm your appointment or request a new date or time window, and begin preparing for the call. The Medicare Insurance Guide will explain more about the Exchange and Medicare Part A and Part B, and provides a checklist of items to have available when you meet with your Benefits Advisor. April 1 through June 30: Enroll via the Aon Retiree Health Exchange website. You ll receive your login information in your appointment letter. On this site you ll be able to compare your options, make your decisions and enroll by June 30 to have coverage starting on July 1. Your Benefits Advisor can help you use the site, if needed, discuss your needs and identify the plan(s) most suitable for your situation based on the information you provide, and complete your enrollment. Help When You Need It: Benefits Advisors and Advocates Exchange Benefits Advisors are certified, licensed insurance agents. They ll help you free of charge. They re completely objective and receive no incentive or compensation for recommending a specific carrier or a specific plan. We ll assign you a Benefits Advisor, and you ll have his or her direct phone number. You can call and talk to anyone at the Exchange, and he or she will be able to refer to your personal account, but your Benefits Advisor will get to know you well. Your Benefits Advisor will help you make enrollment decisions, complete any actions you have to take and so much more. You can feel confident that you ll have the personalized, one-on-one support you ll need to enroll through the Exchange and maximize what s available. After you enroll, the Exchange offers special advocates who will remain available to help you on an ongoing basis, free of charge. They re experienced in a variety of Medicare insurance topics, including claims, billing procedures, appeals, and even problems getting appointments with specialists. These advocates are only available if you enroll through the Exchange. This type of enhanced service is what makes the Exchange experience one that retirees tell us is positive and easy for them, so don t miss this opportunity. Aon Retiree Health Exchange Transition Guide 5

6 Note: You must enroll through the Exchange or obtain other health coverage by June 30 to have coverage on July 1. Your participation in the Prudential Retiree Medical Program ends June 30, May through June: Meet with your Benefits Advisor as many times as you need to as you prepare to enroll. He or she will help you identify the best carrier and plan based on the information you provide and will guide you through the enrollment process. Action: Make sure you get all your questions answered before enrolling. Consider inviting a relative, friend or legal advisor who helps you make important decisions to join any call with your Benefits Advisor. If someone else will be participating, just let your Benefits Advisor know. Throughout the year: Call an advocate with any questions. We re here to help throughout the year. Give us a call with questions about coverage, cost, benefits, etc. Paying for Coverage Prudential will continue to provide the same level of financial support for retiree health care as it does today. If you choose to enroll in an individual health plan through the Exchange, you ll pay your medical and/or prescription drug premiums directly to the carrier. Generally, in order to use Prudential s financial support, you ll need to submit a request for reimbursement. If you receive financial support under the Retiree Medical Savings Account (RMSA) If you currently receive Prudential s financial support under the Retiree Medical Savings Account (RMSA), your RMSA will not change. Premium Auto-Reimbursement This feature will not be available with your coverage through the Exchange. Going forward, you will need to pay the insurance carrier directly and then submit a claim for reimbursement from your RMSA with UnitedHealthcare, the RMSA administrator. Information on how to do this can be found in the RMSA Resources Guide, available on Benefits at Pru (at If you receive financial support under the Credit Approach If you currently receive Prudential s financial support under the Credit Approach, when you enroll through the Exchange, an account called the PruCredit Account will be opened in your name. The PruCredit Account is a health reimbursement account. It is a recordkeeping account that can be used to help pay your monthly medical and prescription drug premiums while you re enrolled through the Exchange. On January 1 of each year, Prudential will make its annual contribution. For coverage through the Exchange for the rest of 2018, the contribution to your PruCredit Account will be half the annual contribution. You cannot contribute to the account. 6 Aon Retiree Health Exchange Transition Guide

7 Prudential s contribution to your PruCredit Account will be the same amount you were receiving through the Credit Approach (provided you and the same dependents remain eligible and enroll through the Exchange). The amount in your account can be used only to pay premiums for medical and prescription drug coverage in that calendar year for you and your Medicareeligible dependents who are enrolled through the Exchange. It cannot be used to pay out-of-pocket expenses that you incur before you reach your annual deductible or copays or coinsurance you incur after you reach your annual deductible. And it cannot be used to pay for coverage you enroll in outside the Exchange, for example, if you enroll in your spouse s or domestic partner s coverage or coverage on the open market. Finally, the account cannot be used to pay for any dental or vision coverage you enroll in through the Exchange. If you do not use the full amount of your account for medical and/or prescription drug coverage in that calendar year, the balance will be forfeited. The amount will not roll over to the next year. If you have a dependent who is not yet eligible for Medicare and who will remain enrolled in the Prudential Retiree Medical Program, there will be no change to how the financial support from Prudential will work under the Credit Approach for this dependent s coverage. Premium Auto-Reimbursement Premium auto-reimbursement is a convenient feature available to Prudential retirees who enroll through the Exchange and have a PruCredit Account. Here s how it works: After you ve enrolled in an individual health plan through the Exchange, you ll pay your medical and/or prescription drug premiums directly to the carrier. Once the carrier notifies Aon that you ve paid your premium, you ll be reimbursed for that amount, assuming there are funds in your account. Aon Retiree Health Exchange Transition Guide 7

8 Frequently Asked Questions Every day, our Benefits Advisors speak with retirees across the country. Here are some of the most frequently asked questions they receive. Moving from a Group Health Plan to the Exchange Why are employers moving away from offering group health coverage? The cost of group health insurance for retirees has been skyrocketing for years. Employers are finding that there are now more options for purchasing Medicare Supplement Plans through the individual (instead of group) marketplace. And with an exchange, insurers are competing for your business, which gives most retirees a wider selection of competitively priced options to choose from. Through an exchange, you have access to a variety of health plan options at prices to fit your individual needs and budget. You can select a plan for yourself and a different plan for your eligible dependents, giving you the flexibility to tailor the coverage (and cost) to the covered individual. What s the difference between group health coverage and exchange coverage? A group health plan is generally offered through an employer or association. Currently, Prudential offers group health coverage to Medicare-eligible retirees through the Retiree Indemnity Medical Program or Medicare Advantage and Medicare Cost Programs. Everyone covered under these programs is a Medicareeligible Prudential retiree or LTD participant or dependent, or survivor of a Prudential retiree or LTD participant. The choices are limited to specific medical program options sponsored by Prudential. By comparison, exchanges offer a wide variety of carriers and plans. You can choose any plan that meets your needs (versus one group health plan for everyone you cover). You may have several types of plans available to you, depending on where you live. And because carriers in the Exchange generally cover far more individuals than most group health plans do, they can typically offer better pricing. If the Affordable Care Act is repealed, will Prudential reinstate retiree medical coverage? The Aon Retiree Health Exchange is a private exchange and is not associated with the public exchange, which is governed by the Affordable Care Act. Furthermore, Prudential s decision to terminate certain retiree medical programs is not related to the Affordable Care Act. The Exchange is designed to offer Prudential retirees access to more choices and options for using Prudential s financial support approach to fit their needs. 8 Aon Retiree Health Exchange Transition Guide

9 Exchange Coverage Do I need to enroll in Medicare Part A and Part B to be eligible for the Exchange? Yes. Before you can enroll through the Exchange (or, for that matter, in any Medicare Supplement, Medicare Advantage or Medicare Cost insurance that includes additional medical coverage), you must enroll in Medicare Part A and Part B. If you re not already enrolled in Medicare, visit your local Social Security office, apply on the Social Security website at or call Social Security at (TTY ) between 7 a.m. and 7 p.m. Monday through Friday, to speak with a Social Security representative. Note: If you don t have Part A and Part B coverage on July 1, 2018, you will not be able to enroll for coverage through the Exchange, and you will no longer be eligible for medical coverage from Prudential. The Medicare Part B enrollment period is held January 1 through March 31 each year. If you have not already enrolled in Part B, please do so immediately. You must have Part A and Part B coverage in effect to enroll through the Exchange. Keep in mind that you could face penalties if you don t sign up for Medicare Part B during specific enrollment periods. Social Security can provide information about when you need to enroll to avoid Medicare Part B penalties. What types of coverage are available through the Exchange? Generally, there are three types of plan: Supplement (Medigap) Plans, Medicare Advantage Plans and Medicare Cost Plans (available in some locations). Which plans you are eligible for depends on where you live. If you are unsure about the type of plan that is right for you, a Benefits Advisor will ask you some questions and can help you decide. Will there be comprehensive Medicare Advantage/Medicare Cost Plans to choose from that include dental and vision coverage? In many cases, yes. Some Medicare Advantage and Medicare Cost Plans offer extra coverage, such as dental, vision and/or hearing benefits. And most Medicare Advantage and Medicare Cost Plans include Medicare prescription drug coverage, which means you don t need to purchase separate prescription drug coverage. If the coverage you choose does not come with prescription drug, dental and/or vision coverage, you can choose a separate plan for prescription drug, dental and/or vision coverage through the Exchange. As with medical coverage, you ll have access to a variety of carriers and plans. Please note that Prudential s group health coverage for dental and vision is not terminating at this time. If you want to continue your current coverage under the Prudential Dental Discount Program and/or the Prudential Retiree Vision Care Insurance Program, you can. The Vision Discount Program will continue to be provided to you at no cost. Aon Retiree Health Exchange Transition Guide 9

10 What if I enroll in a plan that doesn t include prescription drug coverage? If a Medicare Supplement Plan is a better choice for you than a Medicare Advantage or Medicare Cost Plan, you ll need to purchase a stand-alone prescription plan. A Benefits Advisor can help you find and apply for prescription drug coverage that best meets your needs. What if I already have individual Medicare insurance outside the group health plan but want to make a change? If you previously obtained individual health coverage to supplement your Medicare benefits but would like to move to an Exchange plan, you ll need to wait until the regular annual Medicare Open Enrollment Period (October 15 December 7) to enroll in coverage for the next plan year, in this case However, if you experience a qualified change in status (e.g., losing coverage under your spouse s plan or moving to a new state) before that time, you may be able to change your coverage earlier. In that case, contact a Benefits Advisor at Will I need to choose the same plan for myself and my spouse? No. Unlike Prudential s group health coverage, you ll have more flexibility to choose the coverage that best meets your individual needs and those of your eligible dependents. For example, your spouse may need a higher level of benefits or a more robust prescription drug plan than you do, or vice versa. I m eligible for Medicare, but my spouse isn t. How will this work? Since you re Medicare-eligible, live in the U.S. and are enrolled in Medicare Part A and Part B, you can supplement your Medicare benefits by enrolling in a medical and prescription drug plan through the Exchange. If you have a dependent who does not meet these requirements, he or she will be eligible for Prudentialsponsored group health coverage as long as you (the eligible Prudential retiree) stay enrolled through the Exchange. Your dependent will be invited to voluntarily enroll through the Exchange when he or she becomes eligible for Medicare. Until then, your dependent will have the opportunity to enroll in Prudential-sponsored health coverage during Prudential s Annual Enrollment held each fall, if elligible. My spouse and children are not eligible for Medicare. Can they continue coverage in Prudential s Retiree Medical Program? Yes. Until your spouse and children become eligible for Medicare, they may continue to be covered under the Prudential Retiree Medical Program as long as you are enrolled in medical or prescription drug coverage through the Exchange. Before Prudential s Annual Enrollment Period begins, information about enrolling in the Retiree Medical Program including key dates and actions will be mailed to your eligible dependents. 10 Aon Retiree Health Exchange Transition Guide

11 I m currently retired and on COBRA. What happens when my COBRA continuation coverage ends and I want to enroll in Prudential retiree coverage? Assuming you re Medicare-eligible when your 18-month COBRA coverage ends, you will have an opportunity to enroll through the Exchange. You have 90 days prior to the date your COBRA coverage ends to enroll through the Exchange. Your coverage would take effect the first of the month following the date your COBRA coverage ends. You can enroll through the Exchange up to 60 days after your COBRA coverage ends. In this case, your new coverage would take effect the first of the month following your enrollment. Working with Your Benefits Advisor How long does an appointment with a Benefits Advisor last? In general, your call will last about 45 to 90 minutes. If you go to the Aon Retiree Health Exchange website before your call and enter the requested information on your own (e.g., your location, medical needs, prescription drugs you and your Medicare-eligible dependents currently take), your appointment could be much shorter. Can a family member or friend speak to a Benefits Advisor on my behalf? Yes. Feel free to include your spouse, a caregiver, a trusted friend or a family member on any call you have with your Benefits Advisor. However, only you or someone with legal Power of Attorney can enroll for you or sign forms and other documents. If someone else will be participating on the call with you, just let your Benefits Advisor know. As a veteran, I have TRICARE insurance. Should I enroll in an individual health plan? The best way to get an answer to this question is by discussing it with your Benefits Advisor during your scheduled telephone appointment. Before your appointment, contact your TRICARE representative to get guidance on whether enrolling in a Medicare Supplement, Medicare Advantage or Medicare Cost Plan would in any way jeopardize your TRICARE coverage or eligibility for coverage. Then, be sure to speak with your Benefits Advisor to discuss your needs and whether your TRICARE plan alone meets them. Aon Retiree Health Exchange Transition Guide 11

12 Paying for Coverage Will I continue to be billed or have payments deducted from my pension for my coverage through the Exchange? No. Prudential will no longer bill you or make pension deductions. You will be responsible for paying your premiums directly to your new carrier. Consider automatic payment options, like direct debit, with your new carrier to ensure timely payments for your new coverage. And if you have a PruCredit Account through the Exchange, you can sign up for auto-reimbursement. If after you enroll through the Exchange you continue to have a dependent covered by Prudential s group health coverage, Prudential will continue to bill you or take deductions from your pension, as applicable, for this dependent s coverage. What is the difference between a Retiree Medical Savings Account (RMSA) and the Credit Approach provided through the new PruCredit Account? If you currently receive Prudential s financial support for your coverage under the Credit Approach, you will be set up with a PruCredit Account automatically. Plan Features Who is eligible? How will I get set up? How much will Prudential contribute to my account? What expenses can I use the balance to pay? What happens to the balance at the end of the year? Retiree Medical Savings Account (RMSA) Anyone who is currently receiving Prudential support through the RMSA. There is no change participation continues automatically. There is no change currently you receive interest only into the RMSA. Certain individual medical, prescription drug, dental and vision premiums, including coverage through the Exchange. Your balance can also be used for Medicare premiums, but it cannot be used to pay out-of-pocket expenses. The balance in your account carries over. PruCredit Account Anyone who is currently receiving Prudential support through the Credit Approach. A PruCredit Account will be set up automatically when you enroll in medical or prescription drug coverage through the Exchange. There is no change to the amount of support Prudential provides under the Credit Approach other than that the amount will be provided annually rather than monthly. The amount will be noted on the appointment letter you receive in April. Exchange medical and prescription drug premiums only. Your balance cannot be used to pay Medicare premiums, out-of-pocket expenses, or dental or vision premiums. The balance in your account is forfeited. 12 Aon Retiree Health Exchange Transition Guide

13 What happens to the balance when I die? What happens to the balance if I change coverage? Is autoreimbursement available? Your surviving spouse or dependent child may continue to access the account for his or her coverage. Nothing happens to your RMSA it is not dependent on your coverage. No. You will need to submit a claim to UnitedHealthcare to receive reimbursement from your RMSA. The balance remains in the account for the remainder of the year in which you die. Starting with the following plan year, if you have a survivor or dependent who is eligible for coverage through the Exchange, he or she will have an account established for his or her Exchange coverage. If you have a domestic partner, funding for the PruCredit Account will not continue after your death. You have access to your balance only while enrolled in medical or prescription drug coverage through the Exchange. Yes, but you must first pay the carrier directly. After you ve enrolled in an individual health plan through the Aon Retiree Health Exchange, you ll pay your medical and/or prescription drug premiums directly to the carrier. Once the carrier notifies Aon that you ve paid your premium, you ll be reimbursed for that amount, assuming there are funds in your account. Reimbursements may be made to your bank account or with a check sent directly to you. If there s money left in my PruCredit Account after paying my premiums, can the rest be paid out to me? No. The funds in your account can only be used to pay your medical and prescription drug premiums on the Exchange. Can I use my PruCredit Account to pay my non-medicare-eligible spouse s group coverage premiums, copays or other out-of-pocket expenses? No. If your spouse is covered under a group health plan, his or her premiums and expenses cannot be reimbursed from the account. However, if you are enrolled in medical coverage through the Exchange and your spouse is enrolled in a pre-medicare Prudential-sponsored retiree medical program, Prudential will continue to apply a credit toward the cost of your spouse s coverage through the Credit Approach. Why can t Prudential just pay my health care premiums for me? For the funds in your account to remain a tax-free benefit, the IRS requires that you pay your premiums out of your own pocket first and then receive a reimbursement through the PruCredit Account. Aon Retiree Health Exchange Transition Guide 13

14 My spouse and I are both eligible to enroll through the Exchange and eligible for the Credit Approach. Will we each have an account? No. There will be one account opened in the Prudential retiree s name, and the amount Prudential contributes will depend on the number of participants covered through the Exchange. If you and your spouse are both Prudential retirees, two accounts will be set up. I can enroll in my spouse s group health plan as a dependent, but I want Prudential s contribution to my coverage. Can I still receive it if I don t enroll through the Aon Retiree Health Exchange? No. To receive Prudential s contribution to the PruCredit Account, you must enroll in a medical or prescription drug plan through the Aon Retiree Health Exchange. Glossary of Terms Advocate An advocate can help you anytime throughout the year. Call with questions about your coverage, a bill you received or filing an appeal. An advocate can even help you get an appointment with a specialist. Benefits Advisor Benefits Advisors are certified, licensed insurance agents. You ll have a telephone appointment with a Benefits Advisor during which you can get help choosing the right coverage and enrolling. Benefits Advisors are available to speak with you as many times as you need in order to support your decisions regarding Exchange coverage. Carrier Carrier refers to the insurance companies such as UnitedHealthcare, Cigna, Aetna, Blue Cross Blue Shield and many others. Carrier availability will vary by location. Exchange A marketplace where consumers can review/purchase individual insurance plans offered by various commercial insurance providers. Exchanges can be public or private, and vary by state. A public exchange is run by either a state or the federal government. A private exchange is run by a private company. Aon Retiree Health Exchange (the Exchange) This Exchange is a new option for eligible Prudential retirees and their eligible survivors or dependents starting July 1, Depending on location, the Exchange may offer a wider choice of insurance carriers and costs than is currently available through the Prudential group plan. Premium This is the monthly amount you pay to the carrier for your coverage. Your Spending Account TM The administrator for the PruCredit Account. 14 Aon Retiree Health Exchange Transition Guide

15 If You Have Questions If you have questions that need to be addressed before your appointment with your Benefits Advisor, call (TTY use 711 Relay). Representatives are available Monday through Friday from 8 a.m. to 9 p.m. Eastern time. Aon Retiree Health Exchange is a trademark of Aon Corporation. Your Spending Account is a trademark of Alight Solutions LLC. Aon Retiree Health Exchange Transition Guide 15

16 H