Retiree healthcare

Carhauler

Active Member
Thanks in advance for any help with my question. I have been with UPS freight/tforce for 15 years. I am 58. It's looking like I'm on my way out of driving due to serious health issues. I am eligible for the retiree health insurance through Central States teamcare as I am 55. My wife does not carry health insurance. Does anyone know if I can take retiree health insurance and delay taking the pension until 65 so I don't take the hit of 6% a year for early penalty?
 
Thanks in advance for any help with my question. I have been with UPS freight/tforce for 15 years. I am 58. It's looking like I'm on my way out of driving due to serious health issues. I am eligible for the retiree health insurance through Central States teamcare as I am 55. My wife does not carry health insurance. Does anyone know if I can take retiree health insurance and delay taking the pension until 65 so I don't take the hit of 6% a year for early penalty?
Everywhere is different but I know where I'm at you have to be 55 plus also be peer 80 to qualify for retiree healthcare
 

Carhauler

Active Member
Thanks I've Gotta...It sure does get confusing with so many different plans like you mentioned. Everything I talk to teamcare of course it's a different associate with a different answer and ups retirement will only take an email from me with no live person availability for help. Ugh.
 
Thanks I've Gotta...It sure does get confusing with so many different plans like you mentioned. Everything I talk to teamcare of course it's a different associate with a different answer and ups retirement will only take an email from me with no live person availability for help. Ugh.
They calling some down at the union hall

They could probably give you a better answer
 

oldngray

nowhere special
Yeah I'll have to try the hall again. They weren't much help when I tried before.
A lot depends on your BA. Mine was a useless piece of garbage. According to him nobody had ever had any problems before and would ignore anything to the contrary.
 

Jones

fILE A GRIEVE!
Staff member
Interesting question. I've seen guys take the pension and delay the healthcare because their spouse was still working and they could use that plan for free, but I've never heard of someone doing the opposite.
 

Carhauler

Active Member
That's great! Thanks I've gotta. I just received the COBRA notice from teamcare last week. They cut my Healthcare on 9/10. 12 months on disability or comp. And they no longer contribute to the Healthcare. Just wrote a check for $7567.52 for 16 weeks of core coverage at $472.97/week. This amount is retroactive to 9/11 and continues through 12/31. Going broke. Gotta figure out about retiree insurance. My wife carries no health insurance as she is a 1099 employee.
 

Carhauler

Active Member
Exactly Jones. I can't seem to find anyone at teamcare who can answer the question because the pension is handled through ups and I can't talk to anybody at the retirement Department and to reply by email takes 2 weeks for the response. Ridiculous.
 

Red Headed Stranger

Well-Known Member
That's great! Thanks I've gotta. I just received the COBRA notice from teamcare last week. They cut my Healthcare on 9/10. 12 months on disability or comp. And they no longer contribute to the Healthcare. Just wrote a check for $7567.52 for 16 weeks of core coverage at $472.97/week. This amount is retroactive to 9/11 and continues through 12/31. Going broke. Gotta figure out about retiree insurance. My wife carries no health insurance as she is a 1099 employee.
As much as it hurts, you'll probably be better off staying on Teamcare under Cobra than anything else. We were paying over $1,800 per month in premiums before I started working at UPS and one of us had a $500 deductible with a maximum OOP of $2,500, while the other had a $6,900 deductible with a maximum OOP of $6,900. Crap coverage through the Healthcare marketplace for one of us. Any chance your wife would want to work preload (AM) or local sort (PM) in addition to her current job? At least after 9 months, you would both have excellent coverage again. Good luck!
 

Carhauler

Active Member
I agree wholeheartedly Stranger. I checked into the ACA marketplace here and the best platinum plan was $1500/month premium for 0 deductible but $6,000 max OOP versus the $2000 teamcare COBRA with 0 deductible, $1500 max OPP and the gold standard(IMO) in prescription coverage and co-pays. We both have a lot of prescriptions and specialist visits. It's so true if you have your health you have everything. The preload and sort option is another good angle I never thought of. She and I will discuss it. Thanks for suggesting!
I talked with another associate at Teamcare and she said that once I decide to retire, there was a spot on the retirement paperwork that asks what date you would like to retire? The teamcare lady said to backdate the retirement to 9/11/2022 (the 1st day I lost Healthcare coverage).Then she said, teamcare would reimburse my cobra payments. I don't know ifnthats valid, but she was pretty sure of herself. Also 6% per year penalty under 65. And there is no such benefit of getting full pension early due to being declared totally disabled by the Social Security Administration which I have been. Medicare does not start for 29 months after you are granted permanent disability.
 

Red Headed Stranger

Well-Known Member
I agree wholeheartedly Stranger. I checked into the ACA marketplace here and the best platinum plan was $1500/month premium for 0 deductible but $6,000 max OOP versus the $2000 teamcare COBRA with 0 deductible, $1500 max OPP and the gold standard(IMO) in prescription coverage and co-pays. We both have a lot of prescriptions and specialist visits. It's so true if you have your health you have everything. The preload and sort option is another good angle I never thought of. She and I will discuss it. Thanks for suggesting!
I talked with another associate at Teamcare and she said that once I decide to retire, there was a spot on the retirement paperwork that asks what date you would like to retire? The teamcare lady said to backdate the retirement to 9/11/2022 (the 1st day I lost Healthcare coverage).Then she said, teamcare would reimburse my cobra payments. I don't know ifnthats valid, but she was pretty sure of herself. Also 6% per year penalty under 65. And there is no such benefit of getting full pension early due to being declared totally disabled by the Social Security Administration which I have been. Medicare does not start for 29 months after you are granted permanent disability.
I wish you and your wife the best. So sorry for your predicament but hopefully the Teamcare associate was right and you'll get your COBRA premiums reimbursed. Getting old or disabled is not for the weak-bodied or weak-minded. It takes a certain amount of toughness to get through the rough patches but I hope things start getting better for you soon.
 

Carhauler

Active Member
That's awful kind of you to say. Thank you very much for your well wishes and positive thoughts. It definitely takes a lot of mental toughness to keep pushing forward and not get stuck in a depressed state. One day at a time. My best wishes to you as well Red Headed Stranger.
 

DELACROIX

In the Spirit of Honore' Daumier
Interesting question. I've seen guys take the pension and delay the healthcare because their spouse was still working and they could use that plan for free, but I've never heard of someone doing the opposite.

I don’t think you can... Team care retirees are under a separate plan...@Carhauler is under a UPS pension plan, if he decides to retire with 15 years at age 58 he is going to lose 42 % of his 1500 a month pension (estimated).

As far as health coverage..@Carhauler has to check into early Medicare or Medicaid coverage, oh he and his wife qualifies. If Team care said that he would be reimbursed for his payments, he better get it in writing, all these healthcare providers can be pretty cold hearted.
 

Carhauler

Active Member
Very good points Delacroix. A written declaration of reimbursement policy will be a must. I am afraid to make any decisions because I get a different answer depending on whom I talk to. It's as though the teamcare advisors "wing it" and none of them are trained from the same manual. Very discouraging. I thought the pension plan may have had language that would provide for full pension payout with no 6% per year penalty prior to age 65 for those on social security disability. I guess I was mistaken.Thanks for your feedback Delacroix.
 
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