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UPS Retirement Topics
BEWARE of the UPS retiree health plan for part timers!!!
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<blockquote data-quote="tardus" data-source="post: 982314" data-attributes="member: 18896"><p>The unfortunate thing is that I stayed at UPS until age 55 in order to be eligible for the part-time retiree health care benefit. That's why I would like for everyone to be forewarned that the UPS retiree health care plan for part-timers is a pitiful plan. You cannot even buy a plan this pitiful on the open market today, because the new federal regulations on health care plans mandate that annual limits on benefits be phased out. I am certain that UPS is charging much more for this plan that it costs them. And get this, my plan contained a notice that under the Early Retiree Reinsurance Program "the Federal government reimburses the plan sponsor [UPS] for some of the costs of health care benefits ... Under the Early Retiree Reinsurance Program, UPS will use the Early Retiree Reinsurance Program reimbursements to reduce or offset increases in its own costs for maintaining your health benefits coverage..." In other words, UPS is even getting Federal dollars to subsidize this plan, which is costing UPS less that it receives in premiums! What a scam!</p></blockquote><p></p>
[QUOTE="tardus, post: 982314, member: 18896"] The unfortunate thing is that I stayed at UPS until age 55 in order to be eligible for the part-time retiree health care benefit. That's why I would like for everyone to be forewarned that the UPS retiree health care plan for part-timers is a pitiful plan. You cannot even buy a plan this pitiful on the open market today, because the new federal regulations on health care plans mandate that annual limits on benefits be phased out. I am certain that UPS is charging much more for this plan that it costs them. And get this, my plan contained a notice that under the Early Retiree Reinsurance Program "the Federal government reimburses the plan sponsor [UPS] for some of the costs of health care benefits ... Under the Early Retiree Reinsurance Program, UPS will use the Early Retiree Reinsurance Program reimbursements to reduce or offset increases in its own costs for maintaining your health benefits coverage..." In other words, UPS is even getting Federal dollars to subsidize this plan, which is costing UPS less that it receives in premiums! What a scam! [/QUOTE]
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BEWARE of the UPS retiree health plan for part timers!!!
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