In 2005 the association offered the opportunity
to retirees to participate in a group life insurance
policy.
We were told that the rates were low because
it was a group policy and as retirees we could
join. Several officers participated, as did Ray
and I.
We kept requesting a copy of the policy,
a certificate and kept being stalled. As time
progressed, the premiums would change and then
the name on the deduction changed.
In 2008 I called inquiring about the changes.
I was told that when Ray retired, his insurance
dropped to $7,000 and mine was no longer
available. I explained to them that he was
retired when we contracted (the policy), and
the conditions it was offered to us. Then they
told me that they had changed from Standard
to Five Star - we were never notified of any
changes, either the company change or the
benefits change.
They assured me that they were getting it
corrected and told me that they had lost our
beneficiary designations and asked us to
re-submit them. We did so and we finally got a
copy of the policy.
They also told me that the premiums had increased
and we paid that increase for a few months.
I just recently realized that the premiums had
been reduced about $80 so I called the
Pension Board. They explained to me that the
insurance company had instructed them to change
it and said there had been problems with this
company that affected other retirees.
I then called for Alex Perez at Crest Benefits
Consulting and spoke with Richard Chen. He
told me that Ray's insurance had dropped when
he retired (here we go again). I explained that
to him and he again.
As he did in August, [he]assured me that they
were getting it resolved with the company and
it affected a lot of officers, both active and
retired. In short, I urge all retirees who may
have subscribed to this policy, to make sure you
still have what you contracted for. At this point,
a complaint to the State Board of Insurance is
being prepared. Others may need to do the same.
Suzanne S. Hildebrand
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I'm glad you posted this Suzanne. I had forgotten I got the same run around a couple of years ago and have since forgotten about it. I think the best thing is to drop the policy. If you are having that much trouble getting policy matters squared away, it appears one would have trouble collecting on it anyway.
ReplyDeleteI just called Alex's phone at the office. All I was able to get was an answering machine. I think the best course of action if no reply is given by the end of the business day, is to cancel your policy (if you're lucky enough to have one).
ReplyDeleteLarry has called three times and has been
ReplyDeletetold the same as Suzanne. Larry spoke with
Robert yesterday and again he was told they
are working on it. As of now 7 on Larry
and 0 on me.
Larry & Pam Robarts