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Brown Cafe UPS Forum
UPS Retirement Topics
$250,000 Teamcare Plan Benefit Annual Limit?
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<blockquote data-quote="DELACROIX" data-source="post: 5271639" data-attributes="member: 49065"><p>It depends on your area, 38 part time years as a part timer under the Central and Southern supplement automatically stops at 35 years. Those part timers as long as they are still active in the West continue to accrue pension credits (no limits) and can start collecting their pensions at age 65 along with their Social Security benefits and still work. </p><p></p><p>Once you turn age 65 in 9 more years that (early) retirement Health and Welfare under Team Care is discontinued and you have to apply for Medicare. If you and your dependents (Spouse) have major medical problems you can apply for Medicare coverage before you retire. You do have to use one for a primary only, there is no supplement coverage with either one in my area (Central).</p><p></p><p>Major surgery or a prolong health crisis will hammer you big time with the rising costs of medical coverage, you can expect to pay way over 250,000 for one major surgery or a prolong stay in a hospital. </p><p></p><p>I would wait till this coming contract and see if the O'Brien team can improve your retirement medical coverage or increase your pension benefits. Have to do your research and always be prepared before you take the jump on an early retirement, waiting one more year would be the smart choice.</p></blockquote><p></p>
[QUOTE="DELACROIX, post: 5271639, member: 49065"] It depends on your area, 38 part time years as a part timer under the Central and Southern supplement automatically stops at 35 years. Those part timers as long as they are still active in the West continue to accrue pension credits (no limits) and can start collecting their pensions at age 65 along with their Social Security benefits and still work. Once you turn age 65 in 9 more years that (early) retirement Health and Welfare under Team Care is discontinued and you have to apply for Medicare. If you and your dependents (Spouse) have major medical problems you can apply for Medicare coverage before you retire. You do have to use one for a primary only, there is no supplement coverage with either one in my area (Central). Major surgery or a prolong health crisis will hammer you big time with the rising costs of medical coverage, you can expect to pay way over 250,000 for one major surgery or a prolong stay in a hospital. I would wait till this coming contract and see if the O'Brien team can improve your retirement medical coverage or increase your pension benefits. Have to do your research and always be prepared before you take the jump on an early retirement, waiting one more year would be the smart choice. [/QUOTE]
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$250,000 Teamcare Plan Benefit Annual Limit?
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