Benefits

Key contact numbers are listed below for obtaining Medical reimbursement payments from Lockheed Martin, since Lockheed Martin has taken over the administration of Comsat’s medical benefit coverage:

Lockheed Martin Service Center – 866-562-2363 https://lmc.lifeatworkportal.com/

Please call or visit the website of the Lockheed Martin Service Center for pension or life insurance related questions.

Lockheed Martin has hired a company called Via Benefits to administer the health care benefit program available to Comsat retirees.

Via Benefits – 844-596-0460 or at https://my.viabenefits.com/

You may also be entitled to a $10,000 death benefit. Please contact the Lockheed Martin Service Center to report the death of a Comsat retiree for more information.

Updates from Maury Mechanick on 5/12/2021

Prior to 2015, retiree health care benefits for COMSAT retirees were directly administered by Lockheed Martin Corporation’s (LMC) retiree benefits department.  Starting in 2015, LMC hired a company called Via Benefits to administer the health care benefit program available to all LMC employees, including COMSAT retirees. Contact details for Via Benefits are as follows:  Via Benefits – 844-596-0460 or at https://my.viabenefits.com/

As part of this change, LMC moved away from the prior approach which followed a more conventional insurance reimbursement model, where the retiree covered a certain percentage of health care expense (normally 20%) and the plan covered the remaining 80%.  Under the current approach, an equivalent amount of coverage is provided, but with a specific dollar amount of reimbursement provided up front that the retiree can draw down against over the course of the year, in a manner similar to withdrawals from a bank account.  At the core of this approach is a determination of the dollar amount of coverage to be provided, which LMC set for most COMSAT retirees as $3,000 per covered individual, although certain COMSAT retirees previously eligible for higher benefit levels are receiving an annual coverage amount of $3,900.

In setting these amounts, LMC’s actuarial team determined that $3,000 would be equivalent to 80% of the annual amount it would previously expend to cover an equivalent Medigap plan coverage and 80% of the cost of a dental plan. This breaks down to $2,520 for Medigap and $480 for dental plan coverage. Interestingly, this contrasts with the coverage provided to other LMC retirees, who only receive an annual allowance of $900, which represents the equivalent current LM post-65 Medigap plan subsidy being provided. Also, LMC retirees do not have dental coverage.

For those eligible for the higher amount of $3,900, LMC’s actuarial team has determined that $3,900 represents 100% of the annual amount to cover an equivalent Medigap plan AND 100% of the cost of a dental plan.

 Medical Coverage

For most retirees who are married, the current annual coverage amount is $3,000 per person or $6,000 for you and your spouse.  For those retirees who are eligible for Medicare, this annual $3,000 per person coverage can be used to purchase any of the available Medicare supplemental insurance policies.  If you chose a Medicare supplemental policy that costs more than $3,000 per person per year, you will be reimbursed $3,000.  If you chose a Medicare supplemental policy that costs less than $3,000 per person per year, you can submit medical claims that you pay out of pocket for items such as hearing aids, eyeglasses, and a wide variety of other medical expenses not normally covered by Medicare or a Medicare supplemental policy up to the maximum of $3,000 per person per year.

It is important for you to review your medical coverage needs at the end of each year and choose the most appropriate Medicare plan and Medicare supplemental policy that fits your needs.  If you decide to switch to a different supplemental policy, you need to inform Via Benefits of the changes.  You may need to submit your Medicare supplemental premium reimbursement request each year if you are enrolled in auto-pay.

The easiest way to use the Via Benefits system is online by going to https://my.viabenefits.com/

Whether you access Via Benefits by telephone or online, be sure to set up a user name and password, both of which will be required  each time you access Via Benefits.

A few additional notes:

• In making this change, LMC made no commitment as to whether or not the annual allowances will remain the same into the future.

• A separate allowance for the retiree and spouse may be an advantage in selecting individual plan coverages that provide a better fit for each of their respective needs.

• This change also provides more opportunity to select plans that work better for the retiree based on his or her physical location.

• There is a vision plan that is not part of the normal retiree coverage that is provided on a group enrollment basis available for purchase on the Via Benefits Exchange.  The participant pays the entire premium.

• It’s critical that all retirees (whether enrolled in medical today or not) pay immediate and close attention to all communications from Via Benefits about plan details.  Failure to do so could result in a permanent loss of coverage or a permanent reduction of benefits.

Life Insurance

Regarding retiree life insurance benefits, that aspect of COMSAT retiree benefits was not affected by the changes implemented regarding retiree health care benefits.  As such, individuals who formally retired from COMSAT do have a continuing life insurance policy benefit as part of the retirement package, although the amount of coverage tapers down quickly after retirement, such that after six years from the retirement date, the amount of coverage to which the retiree would be entitled is reduced to 25% of the retiree’s final salary, with a maximum set of $10,000 and a minimum set of $2000.

To be considered a COMSAT retiree, normally an individual needed to have retired upon reaching the age of 65.  There was, however, a provision for taking early retirement where, if you had ten years of service, you could have chosen to retire as early as 55. There is nothing that would appear to indicate that an early retiree would be ineligible for retiree life insurance.

To qualify as an early retiree, you do not have to formally “elect” this status, but so long as you have met the 10-year minimum requirement and left COMSAT’s employment after the age of 55, you will have been deemed to have elected early retirement.  

Report from Richard Lustig about LM Medical Meeting – 2015

My meeting today went very well with Mark Bradley and here’s the synopsis of what we covered:

1. Determination of $3,000 as the equivalent amount for current LMC coverage.
   • The LMC actuarial team has determined that $3,000 represents the 80% of the annual amount to cover an equivalent Medigap plan AND 80% of the cost of a dental plan. This number breaks down to $2,520 for Medigap and $480 for dental. COMSAT retirees paid 20% of the cost for medical and dental coverage and were grandfathered in that provision at the closing of LMGT.
   • Please note that current LMC retirees will only be receiving an annual allowance of $900 which represents the equivalent current LM post 65 Medigap plan subsidy being provided. They do not have dental coverage.
2. Determination of $3,900 as the equivalent amount for current LMC coverage (grandfathered groups, no contributions).
   • The LMC actuarial team has determined that $3,900 represents the 100% of the annual amount to cover an equivalent Medigap plan AND 100% of the cost of a dental plan.
3. SERP participants that receive medical with no contribution required.
   • LMC will go back and review all of the SERP retiree letters and revise where required ($3,900 amount if enrolled in medical). I don’t want to detail personal information regarding John Evans but I can tell you that his communication is correct. John should pursue this directly with Mark Bradley if he so desires to go further.
4. Continuation of COMSAT/LMGT retiree dental.
   • LM retiree dental as delivered today goes away along with the Medigap plans. Allowances have been included per the above notations.
5. Verification that COMSAT/LMGT retiree life insurance is unchanged.
   • COMSAT/LMGT retiree life insurance obligations remain unchanged and is not included in the medical/dental outsourcing.

A couple of other notes …

There’s no determination at this time as to whether or not the annual allowances will remain the same into the future. Don’t read into this. It just means they are not committing to any increase in the allowances or whether or not the allowances would be reduced or eliminated one day if so desired.

A separate allowance for the retiree and spouse may be an advantage in selecting individual plan coverages that provide a better fit for each of their own needs.

This change also provides more opportunity for plans that work better for the retiree based on their physical location.

There is a vision plan that is not offered today on a group enrollment basis available for purchase on the Exchange. Participant pays entire premium.

It’s critical that all retirees (whether enrolled in medical today or not) pay immediate and close attention to the mailings. There are one time incentives for completing your enrollment before the first deadline and less liberal terms and conditions for late enrollment. Mailings were made to all retirees; enrolled in a plan and those that have currently opted out of all coverages or opted out of medical or dental.

I hope this addresses all of the concerns that the retirees have brought forward. Please let me know if you have any questions. As always, glad to be of assistance to the COMSAT family!

Richard Lustig

2015 COMARA Update on Health-Care Retirement Benefits
This three page document summarizes the information that LMC shared with Richard Lustig.

2015 LMC-HRA Insert Dental LHD5 Final
This 8 page document, from OneExchange, discusses Dental Coverage, Healthe Reimbursement Arrangement (HRA), Enrolling in coverage, and some Frequently Asked Question. The deadline for enrollment is May 29, 2015