Potential good news

[neville clynes]

One clear solution to this quagmire, where many individuals are being effectively blocked from getting the HSA subsidy (see  "problems  with VIA" conversation) is to have a stand alone HSA account subsidized by Columbia) for all retirees. There would then be no restriction on Medigap plans . Each retiree could go to the government website and then contact their chosen company themselves or use an insurance agent as they choose.

This was brought up during the last webinar . It was said that the cost to Columbia of administrating the HSA accounts would be quite high but could be considered in the future. The cost of such a program would have to be deducted from the subsidy. No idea of how much the cost would be was given.

I have made some preliminary contacts with a large health benefits company and will contact a couple more but the cost of setting up and managing HSA accounts for approximately 1000 retirees appears to be quite small. I will follow up with more details.

[neville clynes]

Forma , a company that has Johns Hopkins and Microsoft as customers, among others , is offering a free standing HRA option that would cost approximately 15/year for each retiree . There would be a one time 1500 set up cost for Columbia. 

Alight is another company with a stand alone HRA product. I will get back with their offer.

There is a important caveat here. There maybe additional costs in having Columbia administer  the HRA program through Forma or a similar company. The current arrangement with VIA may include them serving as the program's "administer". This is unlear to me and await further clarification.