Health Care when retired

[UnderPaidSucka]

I plan on retiring in 16 1/2 years. At age 50 which will give me 25 years of service.
Im in upstate NY.

When I do retire does UPS continue to pay for my healthcare and if so for how long? Till I kick the bucket?

 

[Catatonic]

I plan on retiring in 16 1/2 years. At age 50 which will give me 25 years of service.
Im in upstate NY.

When I do retire does UPS continue to pay for my healthcare and if so for how long? Till I kick the bucket?

Assuming you are bargaining unit employee, UPS does not provide your insurance...they just fund it.
At your age, don't assume what is provided today will be provided when you reach 50.

 

[brownrodster]

I plan on retiring in 16 1/2 years. At age 50 which will give me 25 years of service.
Im in upstate NY.

When I do retire does UPS continue to pay for my healthcare and if so for how long? Till I kick the bucket?

Who knows what will happen in 16 years. Health care depends a lot on the local you are in. Most likely, if you were to retire today, you could continue to get your same UPS insurance. However, you would pay $$ for it. I've heard that retirees in my local pay about 800$ a month for our insurance.

There are several locals around the USA that I know of that get free insurance when they retire... But that is rare.

 

[satellitedriver]

No insurance here at all before the age of 57, then you pay for it.

 

[scratch]

If you are unlucky enough to be in a area covered under Central States, then I believe you pay $400 a month for yourself and your spouse. And you have to be 55 years old also. The new IBT/UPS Pension Plan does not cover health insurance, the wonderful CS Fund still handles it. Theres no telling what it will cost when I retire, if it still exist at all.

 

[av8torntn]

I thought Obama was going to give everyone health insurance.

 

[dannyboy]

That depends if you are management or hourly.

I cant speak for management retired.

Once you retire as an hourly, UPS drops you like used toilet paper. After your retirement, its you and the union baby.

Around here, its 300 a month for just you, 400 for you and your spouse. That amount has been going up, and most likely will this year another 100. There was a 500,000 cap on benefits as well. Dont know if they changed it or not, but there was a rumor

d

 

[rod]

If you are unlucky enough to be in a area covered under Central States, then I believe you pay $400 a month for yourself and your spouse. And you have to be 55 years old also. The new IBT/UPS Pension Plan does not cover health insurance, the wonderful CS Fund still handles it. Theres no telling what it will cost when I retire, if it still exist at all.

I'm retired out of Central States. It cost me $100 a month for great coverage for both the wife and myself. $9.00 co-pay on prescriptions ($7.00 generic). No eye or dental. It all depends on which Local you retire out of. The way it stands right now (yes I know things could change at any moment) I will be covered under this plan until I reach 65 years of age. Then medicare takes over and I will switch to using VA health care and the wife will be on her own. I believe each and every local negotiates their own plans depending on how well they are off financially. Some don't look so good.

 

[UpstateNYUPSer(Ret)]

I plan on retiring in 16 1/2 years. At age 50 which will give me 25 years of service.
Im in upstate NY.

When I do retire does UPS continue to pay for my healthcare and if so for how long? Till I kick the bucket?

This is the link for the NYS Teamsters Fund website:

http://www.nytfund.org/

One of our recent retirees did tell me that the Union had begun asking retirees to pay for a portion of their healthcare but that this has since been rescinded. A lot can change in 16 1/2 yrs but you are the point in your career when you do still have a chance to ensure you have a secure retirement.

UPS does not pay for your healthcare. They contribute to your Health and Welfare Fund, which is administered by the NYS Teamsters.

Take some time and check out their website and request some materials.

 

[Catatonic]

Once you retire as an hourly, UPS drops you like used toilet paper. After your retirement, its you and the union baby.

d

That was what 1997 was all about.

Unfortunate but that is the way it is.

 

[User Name]

I can't believe someone is worrying about health care in sixteen years. The best advice anyone can give underpaidsucka is to put as much money away now 401k, stock, ira, ect so when he reaches his goal of retiring at 50 it wouldn't matter how much insurance is he would be set up.. People need to realize that we make good money and not to count on anyone but ourselves. It is a tough world and counting on someone else to take care of me when I will be more vulnerable is not an option. Put money away now, so you don't have to worry later..

 

[retired2000]

upstate
i do not know where you got your info from but here in syr retires still pay for part of the ins. this 1/4 alone i am paying $1,079 for my wife and myself. i have not heard anything about the new retires not paying for it.

 

[UpstateNYUPSer(Ret)]

upstate
i do not know where you got your info from but here in syr retires still pay for part of the ins. this 1/4 alone i am paying $1,079 for my wife and myself. i have not heard anything about the new retires not paying for it.

I was told that it was about $250-300/month or so but that it had been rescinded. Since I am nowhere near retirement I have not looked in to it yet as it is most likely going to keep changing until then but this is what I was told by 2 recent retirees and I said upfront that this was second hand information.

 

[JohnnyPension]

Local 804 in NY:

We pay $675 quarterly. no dental and optical benefit is less than when I was working. Prescriptions are expensive -no more copay but it goes by the cost of the med. I average about $18 per med. Big thing for us was that we have coverage anywhere in the country which allowed us to move to AZ.

 

[sano]

. Then medicare takes over and I will switch to using VA health care and the wife will be on her own.

Isn't that a bit late in life to get a divorce? Certainly you could work something out.

 

[UpstateNYUPSer(Ret)]

Isn't that a bit late in life to get a divorce? Certainly you could work something out.

I would have thought she would have gotten rid of you some time ago. j/k

 

[rod]

Isn't that a bit late in life to get a divorce? Certainly you could work something out.

Let me refrase that- If I don't change my ways I will probably be the one on my own

 

[justhangingon]

Just retired this year with 25 & out.......I won't have option of health insurance until I am 55.......as of now it would be $400 @ month for my wife & I

 

[tunemixer]

Im in local 597 . I will be retiring n 362 days. At age 62. My insurance will be paid for me alone from age 62 until age 65 thats when medicare takes over.I'm told by our BM the nsurnace is almost as good as what we have now. We will both be covered fully for 6 months after I retire.Under the same plan we have now. My wife is much younger so she is not covered. I will have to find insurnace for her.

 

[wyobill]

come back in 16 yrs. You better be maxing out that 401 if you ever want
to retire.

I retired last June at age 51 with 26 yrs. I keep the same coverage as if I was still working with a 50 Dollar a month Co-pay. UPS carrys our Health and Welfare. It could all change at anytime.

I was a driver all 26 yrs

Just remember any dumb SOB can make a dollar but it takes a smart
one to save one. An ol'e timer told me that once