Early Retirement and Medical Benefits

Discussion in 'UPS Retirement Topics' started by Makingaliving, Nov 13, 2012.

  1. Makingaliving

    Makingaliving New Member

    Trying to locate information regarding health / medical coverage offered with retirement. Due to PPD am going to have to retire a mere 5 years before maximum benefits would begin. Trying to find information on what is offered for myself and dependents medically once I officially retire. Have 28 years of service as of this year. Thank you for any information you can share.
     
  2. Monkey Butt

    Monkey Butt You can call me Chappy Staff Member

    You need to provide whether you are Union or Non-Union and if Union - your local.
     
  3. Makingaliving

    Makingaliving New Member

    Union - Local 391
     
  4. rod

    rod retired and happy

    Contact your local. Every local has their own retirement medical bennys.
     
  5. satellitedriver

    satellitedriver Moderator Staff Member

    Isn't it interesting that one company pays for all the medical benefits of it's employees, but the locals slices and dices them, and doles them out, as they see fit.
    This kind of system makes Obamacare look good, and that ain't easy.
     
  6. UpstateNYUPSer

    UpstateNYUPSer Very proud grandfather.

    The key word is employees. Should the local equally insure current and retired employees or should the emphasis be on current employees with retirees expected to pay for a share of their health insurance coverage. I guess the answer depends upon where you are in your career. Ask me this 10-15 years ago and I say let let the retirees take care of themselves. Ask me today and I say let them pay for a portion. Ask me in 7 years and I say we (retirees) should not pay at all as we have worked 30+years and have earned these benefits.

    I think retirees should pay a reasonable amount toward their health insurance benefits.
     
  7. satellitedriver

    satellitedriver Moderator Staff Member

    Maybe I did not make my point well.
    One company-(UPS)- pays all the money into health care benefits, while one is employed.
    One Union control these funds.
    Once one retires, the employee must pay the Union controlled retirement medical plan for their benefits.
    My point being, why is there one company, one union and hundreds of locals with different rules that apply to retiree's?

    The difference in a retiree's monthly healthcare insurance can vary by many hundreds of dollars.
    Nationwide we all make the same hourly rate, by union negotiation.
    All pay the same union dues.
    Then retirement comes into play, and the game changes.
    Central States is a prime example.
    "Obama care' is really going to throw a monkey wrench into the works.
    -( before anyone jumps me for using the term "monkey wrench into the works", as a racist term, they need to know it is an archaic term for someone intentionally screwing something up)-
    One company, one union and multiple retirement plans.
    My question is why I can buy a better policy at a lower price on the open market than I can get thru Central States as a 27yr UPS retiree.
    Inquiring minds would like to know.
    Back to your post, retiree's have always had to pay for health insurance during their retirement no matter what local they belong to.



     
  8. UpstateNYUPSer

    UpstateNYUPSer Very proud grandfather.

    Are you sure about this? I seem to recall some of the retirees when I first started who had their health insurance paid for as part of their pension package.
     
  9. oldupsman

    oldupsman Well-Known Member

    My retiree health care plan is through UPS. I have nothing to do with Teamster health and welfare plans. It is the same plan that I had
    when I was working fulltime with UPS. Except now I pay a monthly premium. When I was working I paid zero.
     
  10. UpstateNYUPSer

    UpstateNYUPSer Very proud grandfather.

    Ours is a Teamster plan and as I said I seem to recall that some of the retirees when I first started paid nothing for their insurance. This has changed--I believe it is $500/month for the member and spouse.
     
  11. upsoldtimer

    upsoldtimer Member

    Gotta keep up the standard of living of those Fat Cat Union Bosses ya know.....
     
  12. downtime8763

    downtime8763 Member

    The first retirees I remember paid $50. per month with a retirement of $1,000 per mo. As of now ours out of local 957 is $400 per mo for my wife and I and the same insurance as before I retired.
     
  13. stealth8

    stealth8 Active Member

    My last day is November 28, 2012. All of my pension paperwork has been completed and I will pay $920.00 a month for health insurance for me and the wifey. I have looked in the open market and I can't find anything that will give me the same coverage at a lower price than what I can get from my union benefits!
     
  14. UpstateNYUPSer

    UpstateNYUPSer Very proud grandfather.

    $920 a month?? How long before you turn 65?
     
  15. moreluck

    moreluck golden ticket member

    Open market was about $1650 for couple......and we did it for 12 years...............and I never thought I would be happy to see 65.........but boy, was I ever!!!
    It was like getting a big raise.
     
  16. stealth8

    stealth8 Active Member

    I will be 55 this Jan. I will get a $920.00 raise when I turn 65 and go on Medicare plan. I will then start paying for the Union's supplemental plan which will cost me about $ 208.00 if I remember correctly. Still 10 yrs away and a lot will probably change within that span of time. Cheers! You all enjoy your families this holiday season!
     
  17. old brown shoe

    old brown shoe 30 year driver

    Congrats to you stealth8. I will also be gone In Nov. and have almost the same game plan as you. I will be 56 in Jan. Other than paying out the high cost for health care I could not be happier. Also going with the Teamsters insurance. This will be the the first holiday season that will really be spent with my family in many years.
     
  18. fred5456

    fred5456 New Member

    I retired at 57 with 30 years of service as a part timer. My monthly insurance is $400 per month for me and my husband. Just wondering if anyone knows if
    Obama care with affect this or am I grandfathered in? Thanks.
     
  19. tardus

    tardus New Member

    Fred5456: I strongly advise you to check the FINE PRINT of your p/t insurance policy. I was horrified to find that the health policy for p/t retirees had a $150,000 annual maximum cap, so if you were in a serious accident or came down with a serious illness you would quickly find yourself with a maxed out coverage. As you know the Obamacare does not allow maximum annual caps on coverage, but these new rules only apply to plans with employees; as UPS informed me, my retirement health plan had no employee members only lots of FORMER employee members.