How Much is My Insurance worth???

Discussion in 'UPS Discussions' started by RealPerson, Jan 13, 2014.

  1. RealPerson

    RealPerson Active Member

    Anyone have any idea what they value our insurance at?
    Like if I had to pay in for it, or how much per person.

    I am filling out some forms, and it wants to know the value of insurance per person in my family.
    Any numbers to call to find out?
  2. oldngray

    oldngray nowhere special

    Priceless? Or worthless? Or valueless?
  3. Look at your of the boxes will tell you the value of your health insurance.
  4. over9five

    over9five Senior Member Staff Member

    Yes, call 867-5309. Ask for Jenny, she is in charge of our insurance.

    someone had to....
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  5. RealPerson

    RealPerson Active Member

    Yes, but I kind of need a breakdown per person if possible.
  6. BrownChoice

    BrownChoice Active Member

    If your looking for a value per person, divide whatever the number is in the box on your
    w-2 and divide said number by how many people you have in your family. Mine alone was $5,400 last year.
  7. UpstateNYUPSer

    UpstateNYUPSer Very proud grandfather.

    This is true only for employees covered by the company plan.
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  8. TheKid

    TheKid Well-Known Member

    Just an estimate but I think $1200-$1500 a month.
  9. Anonymous 10

    Anonymous 10 Guest

    I think it's about 11 grand.
  10. Anonymous 10

    Anonymous 10 Guest

    Yup you can't go wrong with Jenny. Always call 867-5309.
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  11. Funfact

    Funfact Well-Known Member

    Bingo I'm under a union control health plan The value doesn't show up on my W2.
  12. barnyard

    barnyard KTM rider Staff Member

    I wonder if you were to poke around on if you would find something under the 'total pay' tab or something like that.
  13. BrownChoice

    BrownChoice Active Member

    Why not simply call you Local?
  14. toonertoo

    toonertoo Most Awesome Dog Staff Member

    its about 19500. for a couple. Per year.
  15. Bagels

    Bagels Family Leave Fridays!!!

    - You cannot buy UPS-controlled or Teamster-controlled health insurance in the market place.
    - All union-eligible UPSers are in self-insured plans. That is, neither UPS nor the Teamsters pay for the insurance; instead, they pay a nominal fees to providers (Aeta, BCBS, etc.) to manage the health plans but administer (pay all claims) themselves. In other words, that $286 paid to your doctor came out of UPS's pocket, not BCBS's.
    - The value assigned to your health plan is what UPS and IBT considers fair market value - NOT what was actually paid for it. If you're some 20-year-old kid that never used your health insurance last year, it cost UPS merely a few bucks out-of-pocket, despite that $5000-$8000 FMV listed on your W-2.

    What are you asking? If you want to know how much such insurance will cost out-of-pocket on the individual market, the answer is "a lot," and a lot more than what's listed on your W-2. This is because people who typically tend to purchase individual insurance skew older and often have a lot of health problems (which is what ObamaCare is attempting to change). When an employer traditionally purchases group health insurance, it is spreading the risk among all employees, young & old, health & sick, which is why pricing is based on the employer's demographic.

    For me, a 31-year-old non-smoking male, the best-priced health plan I can purchase in my area (with a provider accepted in most places; e.g. Aetna, BCBS, etc.) that closely matches UPS's would cost me just over $5,000 annually. But it has a $250 deductible, only pays 80% of claims, would cost me $35 for an office visit (more for a specialist) and charge me $10-$65 per prescription.
  16. RealPerson

    RealPerson Active Member

    I am asking because I am Court ordered to declare a Value on what I pay for my Son's insurance.
    I told them it was not that simple it is part of my wage..........
    I said we get an additional $XX a hour paid to Health and Pension, but the break down I do not know.
    They said --- FIND OUT!
  17. DriveInDriveOut

    DriveInDriveOut The One Who Knocks

  18. Bagels

    Bagels Family Leave Fridays!!!

    You may not be understanding the Court's inquiry; Courts don't care what health insurance cost, they care about the premiums that you contribute toward the health insurance, as it's essentially your income being used to support your child. Thus, when child support is computed, you receive credit toward premiums that you pay for your son out-of-pocket. But if you're a union (or RTW freeloader) employee, you do not pay premiums. Thus, as DriveInDriveOut indicated, it's $0.

    Probably best to ask your lawyer for clarification.
  19. RealPerson

    RealPerson Active Member

    Said to find out how much is contributed on my behalf for medical.
    But thanks ....
    Just a FYI on my form it has
    How much do you pay for Insurance
    How much is your health insurance worth
    Do you cover more than child listed
    and so on and so on.
  20. UpstateNYUPSer

    UpstateNYUPSer Very proud grandfather.

    Let your lawyer do his/her job.