I figured it was worth a shot
But I honestly do not think he has enough time to qualify the health care
Retiree healthcare
- Thread starter Carhauler
- Start date
But I honestly do not think he has enough time to qualify the health care
oldngray
nowhere special
Local is the best but still very dependent on the quality of the people there. HR if you can get through to them after at least an hour on hold will only give you the one size fits all answer they read from a script and will be clueless about differences between plans.
I definitely understand BigUnionGuy..Thanks much for following up and offering this advice as well.
When you attach them you have to i hit insert full image
And use the quote button when you reply to somebody.
Okay thanks for the tip.
Johney
Well-Known Member
Here to get the Teamcare health insurance after leaving the company you must be retired at 55. $400 a month covers myself and spouse taken straight from my pension check. Anyone I knew that left before 55 got healthcare through their spouse. You can pick it up when you turn 55 if you weren't before retiring. I will say this it's not as good of insurance as before retiring, but I can't complain about $400 a month for what it is.
oldngray
nowhere special
My local still has the UPS/Aetna insurance so you are still covered if you retire before 55. Confuses the people at the union who are more familiar with Central States and differs from the UPS plan in that it doesn't cover you until 55. $300 a month including spouse for insurance that is close but not quite as good as before retiring but far better than resorting to plans on the open market.
That's the same here. Age 55 and $400 total for employee/spouse per month.agreed, by far better than the ACA market plans. Johney, do you know if it's possible to retire and take the retiree health care and let the pension stay put( defer it) until I'm 65 to avoid the 6% penalty per year under age 65. Just like some people retire and don't take the retiree healthcare because they go on their spouses. I'm looking to do the opposite because my wife carries no health insurance with her work as an independent contractor (1099).
Agree wholeheartedly with you oldngray. For the price I'll take the coverage anyday over the open market. Worry about the $250 k annual limit when and if that time comes.
Johney
Well-Known Member
I’ve never heard of anyone taking insurance without collecting pension payments. Nor have I ever heard of 6% penalties for collecting before 65.
oldngray
nowhere special
There are two ways of calculating your pension. One way is potentially more but reduces the amount by 6% per year before 65. The other way is based on years of service and is a fixed amount and ends up more if you aren't at least in your late 50's. You will end up with which way pays you more.
Unfortunately that's the way it is here on part of my pension
The pension reform bill of 2008 2009
Johney
Well-Known Member
So you get penalized for taking your pension before 65?
On part of it
PT Car Washer
Well-Known Member
If you haven't hit the minimum 25 and out or whatever it is in your area.
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