$200k retiree cap in CS?

[trickpony1]

If a FT union member retires prior to 65 (medicare age) in Central States, he pays $200 a month for the member and $200 a month for the spouse.

There is a $200,000 cap, for member and for spouse (for life), on this policy meaning if you are hospitalized for a serious issue and burn through $200,000 then you are out of luck.

Is there anyone here that retired prior to 65 and purchased supplemental health insurance to cover them for incidents that exceed $200,000 and, if so, what company did you use and what were the premiums?

Serious answers only please.
Thanks.

 

[Jones]

I'm pretty sure lifetime caps like are no longer allowed?

 

[oldngray]

I'm pretty sure lifetime caps like are no longer allowed?

Yes they are. 500k lifetime cap under my Central States plan. Caps don't apply to retiree plans.

 

[Jones]

Yes they are. 500k lifetime cap under my Central States plan. Caps don't apply to retiree plans.

Interesting. 500k is bad enough, but 200k seems awfully low.

 

[oldngray]

Interesting. 500k is bad enough, but 200k seems awfully low.

The wording of the law said there can be no cap but it referred to plans with active members. Retirees are not active so not included. Another example of one of the poorly written sections of that law.

 

[trickpony1]

The link that jones presented was for applicable ACA policies, not Teamcare

Caps don't apply to retiree plans.

All I know is the literature I saw regarding retiree C6 plan of Teamcare said VERY CLEARLY at the top was $200k cap for member and $200k cap for spouse. Of course what it clearly didn't say was if this CAP is per person/per year or per person/per life. It was later explained to me to be "life".

Everyone knows you can burn through $200k in no time at all during an extended stay in the hospital. I have other ideas I'm checking out.

 

[BrownBrokeDown]

T

The link that jones presented was for applicable ACA policies, not Teamcare



All I know is the literature I saw regarding retiree C6 plan of Teamcare said VERY CLEARLY at the top was $200k cap for member and $200k cap for spouse. Of course what it clearly didn't say was if this CAP is per person/per year or per person/per life. It was later explained to me to be "life".

Everyone knows you can burn through $200k in no time at all during an extended stay in the hospital. I have other ideas I'm checking out.

The law abolishing lifetime caps has a loophole that all insurance companies are using. If you are a working employee there can not be a lifetime cap. The moment you retire from said company they can institute any lifetime cap they feel like.

 

[trickpony1]

I'm told the Central States Area has 26 states of this America in it.

562 views and 6 replies and no one, I mean no one, has retired prior to medicare age (65) and obtained supplemental health insurance to cover them in case of a catastrophic issue so they don't burn through their $200,000 cap and end up living under the bridge.

Amazing.

 

[Bubblehead]

I'm told the Central States Area has 26 states of this America in it.

562 views and 6 replies and no one, I mean no one, has retired prior to medicare age (65) and obtained supplemental health insurance to cover them in case of a catastrophic issue so they don't burn through their $200,000 cap and end up living under the bridge.

Amazing.

It's amazing how many "lurkers" that are out there, reading this stuff, but do not post?

It's kind of a shame really?

 

[Oldtimer]

200K per year.
ARTICLE XIV. PLAN BENEFIT LIMIT
14.01
THE TERM PLAN BENEFIT LIMIT IS DEFI
NED AS THE MAXIMUM PAYABLE BY THE
PLAN IN A GIVEN CALENDAR YEAR UNDER ANY OR ALL PLAN BENEFITS. THE
PLAN WILL INCLUDE SUCH PLAN BENEFIT LIMIT AS DESCRIBED. THE AMOUNT
OF THE PLAN BENEFIT LIMIT SHALL BE $200,000 PER COVERED INDIVIDUAL PER
CALENDAR YEAR

 

[brownmonster]

200K per year.
ARTICLE XIV. PLAN BENEFIT LIMIT
14.01
THE TERM PLAN BENEFIT LIMIT IS DEFI
NED AS THE MAXIMUM PAYABLE BY THE
PLAN IN A GIVEN CALENDAR YEAR UNDER ANY OR ALL PLAN BENEFITS. THE
PLAN WILL INCLUDE SUCH PLAN BENEFIT LIMIT AS DESCRIBED. THE AMOUNT
OF THE PLAN BENEFIT LIMIT SHALL BE $200,000 PER COVERED INDIVIDUAL PER
CALENDAR YEAR

And there you have it.

 

[trickpony1]

oldtimer-
OOPS!
Then the person who told me it was $200,000 per person/per life is wrong?

Can I assume the language you copy/paste in post #10 is, indeed, from the C6 retiree plan?

Thanks.

 

[oldngray]

oldtimer-
OOPS!
Then the person who told me it was $200,000 per person/per life is wrong?

Can I assume the language you copy/paste in post #10 is, indeed, from the C6 retiree plan?

Thanks.

There is definitely a lifetime cap for retirees. That 200k per year is a different plan (for active members maybe?). I get a yearly statement telling me how much I have spent and how much I have left of that 500k lifetime benefit. Not everyone has the same plan though.

 

[UpstateNYUPSer(Ret)]

oldtimer-
OOPS!
Then the person who told me it was $200,000 per person/per life is wrong?

Can I assume the language you copy/paste in post #10 is, indeed, from the C6 retiree plan?

Thanks.

So you started all of this on hearsay?

 

[retiredTxfeeder]

I know a fellow retiree from CS who had to have an organ transplant. His transplant team told him they would not be able to perform surgery with the cap. He took out some kind of supplemental insurance to cover the difference. Surgery was performed and he is doing well. Not sure what plan he signed up for, however.

 

[trickpony1]

So you started all of this on hearsay?

Nope.

I started all this after being shown an outline for CS C6 retiree healthcare plan and talking to a person who has very good intentions but may not be fully informed.

Would you retire based on hearsay?......or would you check it out as I am doing?

My post #6 refers to "....literature I saw....".

Try to keep up.

 

[UpstateNYUPSer(Ret)]

I will have all of my ducks in a row long before I retire.

 

[10 point]

I will have all of my ducks in a row long before I retire.

I believe that is precisely what Trickpony is doing as well.
Try to keep up.

 

[upschuck]

200K per year.
ARTICLE XIV. PLAN BENEFIT LIMIT
14.01
THE TERM PLAN BENEFIT LIMIT IS DEFI
NED AS THE MAXIMUM PAYABLE BY THE
PLAN IN A GIVEN CALENDAR YEAR UNDER ANY OR ALL PLAN BENEFITS. THE
PLAN WILL INCLUDE SUCH PLAN BENEFIT LIMIT AS DESCRIBED. THE AMOUNT
OF THE PLAN BENEFIT LIMIT SHALL BE $200,000 PER COVERED INDIVIDUAL PER
CALENDAR YEAR

https://myteamcare.org/ups/currentMembers/docs/TeamCareRetireePlanforUPSMembers.pdf

Clearly states that 200k is per person/per year

 

[Bubblehead]

https://myteamcare.org/ups/currentMembers/docs/TeamCareRetireePlanforUPSMembers.pdf

Clearly states that 200k is per person/per year

What were the limits under the old company plan?