UPS Management Retirement-Health Plan Coverage

[downtime8763]

mg5,
I have been out for 18 months and agree with your statement ( DON'T MISS IT ON BIT) other than some coworkers and customers. Our hr dept. out of Indianapolis /Cincinnati was a joke as I spent three months with Corporate in Atlanta and wasn't for sure about my date until about the week before. Have been helping a couple local farmers,working for our local township and the County fair running shuttle. Hardest thing is getting out of the parcel mans stride !!

[mg5]

Down, I really agree you about the H/R NON-help. It is really a shame. I left in the spring/summer to do all the things we never could before, like took two great trips that you always say, man I'd like to do that.......Well we did that and more. Have spent some great time with family doing things that our work would greatly limit. No phone calls from work or the biggest thing thinking about it and what needs to be done or worked on.

Only planning is what we want to or need to do next. It really is great ! I have told many coworkers do not wait until later....it will never come.. But peak will and summer coverage of others and do more with less.

One last comment. It seems to me everything about our (mgmt ) retirement is a not talked about big secret without any real info before hand and nothing on healthcare benefits.
Again ENJOY IT.... as we all and our families earned it.

[OldManAllowance]

The gift of time..not something I remember. Most of my 35 years were spent in package management, many preloads, centers and let's not forget Saturday's! Do I miss it????? Heck no!
I agree with the others...don't look to H.R. for help. They will supply you with the retirement email. My H.R. guy did'nt even know when the retirement check gets deposited...."around the 1st or 5th of the month, why don't you call a retired partner".
In fact he told me he is directed not to offer any opinion, just hand out Atlanta's email (phone calls not accepted!). I wasn't asking for opinion, merely what is covered health insurance wise. The days of having a district "go to" retirement guy are long gone.
I am thankful for the financial reward from my career, and for our pension benefits.
Long range planning is what I'm doing this afternoon and not how many routes to cut.....if you have the gift of time and you health, you already have your first million bucks!

[ActionJaxson]

For your monthly retirement benefit:
Call Mellon Bank Benefit Disbursement at 1-800-773-8919. Changes made will also update your address with UPS.
For retiree health care:
Call the Benefits Service Center at 1-800-UPS-1508.

Individual Medicare Medical Options
Beginning January 1, 2012, the UPS provided group health care will be replaced with a UPS subsidy that will help you purchase individually-owned coverage and pay for other qualifying medical expenses for retirees who are age 65 and over and Medicare-eligible.
Prior to turning age 65, you will receive an enrollment kit from Aon Hewitt Navigators that will provide you with detailed information about the Medicare Coordination and Advocacy services available in this program.
If you have any questions about your options for a Medicare Supplement, Medicare Advantage and/or Medicare Prescription Drug Plan, contact Aon Hewitt Navigators at1-800-505-8515. You may also visit the website at www.aonhewittnavigators.com.

[upsoldtimer]

I recently retired after over 35 years of service. There is one other major difference between the UPS Retirement Health Plan and the UPS (Active Employee) Health Plan that I didn't see mentioned thus far. The maximum the plan would pay out over one's lifetime is capped at $1,000,000. The plan for active employees carries no maximum cap. When I contacted Corporate about it, I was informed that the active employee plan must follow the rules of Obamacare, whereas the retirement health plan was grandfathered and does not have to abide by the new healthcare law. This is also the reason why one's children are only covered up till the age of 26 providing they are still full-time students rather than the active employee plan where there is no full time education requirement.

[ActionJaxson]

We can also supplement:

https://www.aarpmedicareplans.com/medicare-plans?WT.srch=1&WT.mc_id=880135&gclid=CPz0t4T12LIC FZGiPAod3wIASg

[ActionJaxson]

A Federal Judge has ruled that companies cannot decrease healthcare benefits of retirees when they become medicare eligible. In other words, a company (such as UPS) or a union would have to maintain the same benefit level for those retirees over 65 year old that they do for those retirees under 65. Article.

Added 4/4/05

[battleborn]

If you retire as a part-time supervisor, are you eligible for the UPS Retirement Health Plan? Or is that for full-time employees only? Thanks in advance for any information or thoughts

[brownracer]

I plan to retire around next April, age 55 with 26 years in management. I have been told that there is no health care coverage for management prior to 30 years of service-- is this true?

[beentheredonethat]

I plan to retire around next April, age 55 with 26 years in management. I have been told that there is no health care coverage for management prior to 30 years of service-- is this true?

From what I heard from folks who retired\close to retire. UPS sets aside a dollar amount per year worked. Also somewhere around 1990, the set rate was drastically decreased. So the formula was # years prior to the 1990ish * dollar amount + # yrs post 1990ish * lower dollar amount.

I don't know offhand the two different dollar amounts. But for a 25 year employee (me too) you'd only have a few years at the higher dollar amount. You'll probably have to pay a bit out of pocket initially. However, every year as health care costs go up you will be paying 100% of the increase. Also, when you hit 65 the dollar amounts change again (lowered) since all you need to purchase is a medicare supplement plan vs full blown insurance.