TeamCare Retiree Coverage - New Provision?

Discussion in 'UPS Union Issues' started by InsideUPS, Nov 4, 2013.

  1. InsideUPS

    InsideUPS Active Member

    Has anyone noticed the "new" provision on the TeamCare website for retiree coverage at:

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


    I do not remember the provision that all current retirees will remain in the UPS Company Plan. FYI...My September 4th, 2013 PDF copy does not contain that addendum.

    Does anyone know what the UPS Retiree Plan schedule of benefits and associated costs will be?




    Screen shot 2013-11-04 at 9.50.51 AM.png
    Screen shot 2013-11-04 at 9.50.51 AM.png
     
  2. PiedmontSteward

    PiedmontSteward RTW-4-Less

    I believe the UPS company plan had $50 premiums for retirees but also had a lifetime cap on benefits.. that's definitely a new addendum and will effectively grandfather in the existing retirees, which is exactly what should happen.
     
  3. oldngray

    oldngray nowhere special

    I am on the UPS retiree plan and pay $50 per month with 500k lifetime cap. UPS sent those letters out several months ago threatening to increase prices (mine would have gone up to $247 per month) but the way I understand it is there was a last minute agreement to leave retirees alone. I saw it on a thread here on BC. I never got any letter from UPS explaining or even acknowledging that rates wouldn't change (of course) but I have been billed since the contract passed and still pay $50 per month.
     
  4. InsideUPS

    InsideUPS Active Member

    Piedmont.....it appears that the IBT/TeamCare officials and UPS recently had some negotiations about taking on the liability of existing retirees. UPS has apparently compromised on this issue. This should help the "fiscal health" of the TeamCare plan in general. We "baby boomers" as you might imagine are not inexpensive to cover with health benefits.

    OldnGray.....should be happy about this change...
     
  5. InsideUPS

    InsideUPS Active Member


    OldnGray.....the only issue I would be concerned about as a current retiree is whether or not UPS will raise premiums in the near future. Although the TeamCare retiree monthly premiums are higher.....they at least have a defined amount for the next five years...

     
  6. oldngray

    oldngray nowhere special

    I am very happy about it. Since retirees have a defined benefit that does not increase its not right to increase healthcare costs. People plan for costs and a change like that really sucks. And I agree costs WILL probably increase the next contract.
     
  7. PiedmontSteward

    PiedmontSteward RTW-4-Less

    I was under the impression that the current retirees would be rolled into TeamCare but -- as you said -- this works out great for the IBT and still works out for UPS as they won't see retiree health insurance costs continue to balloon as a liability on their stock portfolio.
     
  8. oldngray

    oldngray nowhere special

    The current plan I am under is still better than Teamcare but Teamcare isn't bad if I am forced into it. Just not as good.
     
  9. saintrick

    saintrick Member

    Was there not a Memorandum that addressed this?

    United Parcel Service Inc. (UPS) and the Teamsters UPS National Negotiating Committee (Union) agree to the following
    in connection with the former Teamster-represented UPS employees who are in a retired status as of December 31, 2013
    and receiving retiree medical coveragethrough a UPS sponsored plan:
    1)
    Retirees in UPS sponsored plans (pre- and post-65) will have the following contribution rates:
    Effective 1-1-2014:
    Single-fifty dollars ($50.00)/retiree plus-one hundred dollars ($100.00)
    Effective 1-1-2015:
    Single-one hundred dollars ($100.00)/retiree plus-two hundred dollars ($200.00)
    Effective 1-1-2016:
    Single-one hundred and fifty ($150.00)/retiree plus-three hundred dollars ($300.00)
    2)
    Effective January 1, 2014 all current retiree medical plans will be modified to provide an 80/20 benefit in
    network; 70/30 benefit out-of-network, and an annual deductible of $200/$400.
    3)
    This Agreement will be applied to retirees covered by the Health Care Program and formerly represented by
    Teamster Locals 118, 182, 294, 317, 449, 529, 264A, 687 and 693 in accordance with the Memorandum of
    Understanding between the parties identified in this paragraph dated October 22, 2010.
    4)
    Nothing within this paragraph is intended to alter UPS rights with regard to the retiree plans as specified in the
    associated Summary Plan Description.
     
  10. island1fox

    island1fox Well-Known Member

    Many if not all of "Retiree Health Care" Plans --are not subject to Obamacare care mandates ---such as Children stay on till 26---unlimited caps--pre-existing conditions etc etc .

    For now able to keep without massive increase in Premiums.
     
  11. The Milkman

    The Milkman Well-Known Member

    If that is true then like you said, we should be Grandfathered in....The planning you make before you retire decides when you go, otherwise you may have to change your plans bforehand knowing what your monthly costs are going to be. I certainly don't want to go back to work to offset increases in my healthcare costs which I understood in my benefit pkg when I left