Medical Benefit at 20 years of service.

Discussion in 'FedEx Discussions' started by Subramaniam's Myth, Jun 15, 2019.

  1. Subramaniam's Myth

    Subramaniam's Myth New Member

    What is the payout and how is applied when reaching age 60 and retiring with 20 YOS? Are health benefits maintained or are you on your own with a stipend from FX.
     
  2. vantexan

    vantexan Well-Known Member

    There is retiree healthcare available but last I saw before leaving in 2017 it was extremely expensive.
     
  3. Subramaniam's Myth

    Subramaniam's Myth New Member

    Did you choose to not take this?
     
  4. BootsOnTarmac

    BootsOnTarmac Active Member

    Have you tried retirement.fedex.com
     
  5. Fred's Myth

    Fred's Myth Nonhyphenated American

    The company provides a flat amount subsidy for qualifying retirees to pay for health insurance premiums only. It is based on your age and years of service. Once it is spent, that's it as far as FedEx is concerned. The purpose is to help with premiums until you reach Medicare age. If you are already 65 it will reimburse your Medicare and supplement premiums, until it is expended. The closer you are to 65, the less you get.
     
  6. vantexan

    vantexan Well-Known Member

    It would've taken most of my pension to have it. Not worth it to me.
     
  7. Cactus

    Cactus Just telling it like it is

    Exactly.

    In other words, bend over.
     
  8. Subramaniam's Myth

    Subramaniam's Myth New Member

    Thanks are you saying if you work til say 66 you will still get a subsidy just less if you were to retire at say 62,i thought at 65 it was all gone. Does anyone know what the full subsidy is valued at $$$.?
     
  9. Fred's Myth

    Fred's Myth Nonhyphenated American

    I retired at 65. At that time, I received a monthly stipend to use for medical expenses. Shortly after, it was changed to a one-time lump sum benefit to be used only for premiums. In my case, the lump sum was $13,000. Once it's spent, it's gone. The benefit drops each year you are closer to your full retirement age. Someone at 60 receives a considerably larger amount, something like $30K. The purpose is to encourage your retirement if premium cost is stopping you.
     
  10. Subramaniam's Myth

    Subramaniam's Myth New Member

    Im planning on working til 65 also. Ive been told since the change of monthly to lump sum payout every year from 60-65 it goes down,with nothing after 65.