Paid Retiree Insurance

Discussion in 'UPS Retirement Topics' started by WhatsUP, Jan 12, 2012.

  1. WhatsUP

    WhatsUP Member

    It would be nice to have paid medical insurance after retirement. Thats when we need it most . Hopefully the young members will think about this benefit during the next UPS/Teamster contract.
     
  2. UpstateNYUPSer

    UpstateNYUPSer Very proud grandfather.

    It would be nice but given the choice between having it while working or while retired I would choose while working.
     
  3. tarbar66

    tarbar66 Member

    Paid medical insurance has gone away like the dinosaurs, dodo bird and free lunches.

    I agree with Upstate of having it while working!

    I believe the only retirees with paid health insurance are already retired management people with 30-35 plus years of service.
     
  4. The Milkman

    The Milkman Well-Known Member

    Would like to see your reply after 25 or 30 yrs of driving and all the aches and pains that catch up with you as you hobble out the door.. All the young guys want the $$ now, I saw it over the years, and now those young guys are all hurting. Being young for the most part you can manage but as you age, little by little, after repeated motions of driving things start to hurt and when older yes..you may need health care more after you hang it up.. Glad I have it now...and yes... I did earn it!!! :usaflag2:
     
  5. floydfreak

    floydfreak New Member

    which local union out there have paid medical insurance after retirement? I know there are some , here in Puerto Rico (local 901) have that same situation. We will start this summer with a strong research...i'll let you know
     
  6. UpstateNYUPSer

    UpstateNYUPSer Very proud grandfather.

    23 years in and I would still prefer, if I had to choose, to have the insurance now as opposed to when I am retired.
     
  7. moreluck

    moreluck golden ticket member

    So many things 'set in' after you are retired. 1 in 2 men will deal with cancer as will 1 in 3 women. Now, I may have gotten those odds backwards, but either way, the odds are pretty good you'll get it.

    The treatments would wipe you out without coverage. This is old info from 2007.....

    "the average cost of treatment for individuals experiencing external beam radiation therapy is $24,204 during the first six months of treatment, with each additional six months of treatment past the first resulting in average extra costs of $3,222. This includes the cost of medications, outpatient visits and hospital stays incurred in connection with the treatment during the initial six-month time period."

    Chemo can run $10-12,000 a round.........and when you are scheduled 16-18 rounds, you may find some time for fun in your retirement, but you'd have no money.
     
  8. The Milkman

    The Milkman Well-Known Member

    Everytime 3 months when I order our meds through the mail..the cost is over $2200 for me and the wife...her monthly pain meds at the local Wallgreens is $725. mine about 90..but we pay 5 bucks at Wallgreens for name brand and mail order is free..............Did not have these expenses 25 yrs ago..........Never thought 25 yrs ago that my wife and I would be in this spot..So someday if you have to lay out that kind of $$$ and had to pay for them??? You would look back like I did and say...Glad I have paid medical now that I am older...We both just had about 11k in dental work done...my cost a shade under $1200...........just getting everything fixed before Medicare kicks in........:hapydancsmil:
     
  9. Been In Brown Too Long

    Been In Brown Too Long How Long Til Retirement?!

    We have medical after retirement out here in CA local 315. We have .90/hr deducted from our pay, and UPS pays towards it as well. I was of the opinion that this should be bargained for on a national level, not every local for themselves. It would probably be a better plan if it was national.
     
  10. UpstateNYUPSer

    UpstateNYUPSer Very proud grandfather.

    Let's assume a 30 year career with 2,000 hours per year. That's 60K hours which @ $.90/hr means a loss of $54K. Let's further assume that you retire at 60, meaning you have 5 years (60 months) before you are eligible for Medicare. If your local were to charge $500/month for the same insurance you would spend $30K, which leaves you with a net loss of $24K.
     
  11. Been In Brown Too Long

    Been In Brown Too Long How Long Til Retirement?!

    I'm at 25 years now, but we've only been paying in for roughly 8-10 years. I will be eligible for retirement at 50 years old(at that point I'll have 30yrs w/UPS), so I won't take that hit. I'd be looking at something closer to $90,000 to buy into that policy, while paying roughly $29,000 into the fund as it is right now. But you are correct, new guys will be getting screwed over the long haul.
     
  12. upsmanckp

    upsmanckp New Member

    Local 912 has it...for $50 per month....
     
  13. Brooklyn Boy 83

    Brooklyn Boy 83 New Member

    I can never see it happen not in this life time anyway. Here in New York when I retire just for me and my spouse 525.00 per month CHILDREN EXCLUDED with a 10percent increase yearly. I'm on the same page as you believe me we busted our butts paid our dues and it's the proper thing to do. Good luck God bless .
     
  14. Brooklyn Boy 83

    Brooklyn Boy 83 New Member

    Not even worried about medical . Worried about collecting my pension. 804 had a bunch of thieves running our local for about 15 years. We voted them out. Thank God!!! Millions missing harddrives destroyed with important information stored lost.A Pension Fund in the red . Our medical JUST ABOUT BANKRUPT!! We have a new president thank God .Timmy is busting his butt trying to get our funds back in the black so we willl have a pension in the future.So far so good. Great job Timmy keep up the great work ! Lets keep the crooks on the outside looking in!
     
  15. stopcomplete

    stopcomplete Member

    Unless you get sick and need treatment
     
  16. floydfreak

    floydfreak New Member

    best of luck
     
  17. floydfreak

    floydfreak New Member

    is that amount fixed? was it negociated on your local agreement?