Retiree Insurance

Brownier

Member
Just put in for retirement after 25 part time apparently I’m eligible to receive A pension 25 and out, i’m taking it while I’m still young and I can get around, got a letter from team care The other day telling me I was eligible for retiree health insurance but only if I was 55 years old, i’m confused because in the contract (Central States) it said when you retire you can stay on the insurance until you’re eligible for Medicare so I’m kind of frustrated because I got at least 9 years before I’ll 55. I don’t mind paying for my insurance at my day job but do they expect us to stick around for 30-35 years until are limbs are practically coming apart! Is anybody on here retired part time at 25 years or 30 before age 55? Thanks in advance!
 

quad decade guy

Well-Known Member
Here, there is a $500 penalty per month if you retire before age 57. Forever. (25 & out). No insurance.

We don't have any insurance(unless you buy it) after retirement....until Medicare. So that could be decades of buying insurance. Not much of a deal.

They don't want you retiring young.
 

DELACROIX

In the Spirit of Honore' Daumier
You better keep working of insurance is expensive

In the Central a part timer with 25 years vested will be able to collect 1,350 under age 60. Your health insurance runs around 400 a week or 1,600 a month... so when you retire at age 46 do the math, Medicare doesn’t kick in till age 65, that means you have to find health insurance for another 19 years after you retire...face it you are in a classic Catch-22...smart move is to stick it out till the 2023 contract and hope that O’Brien can negotiate improvements in the part timer’s’ pension and health and welfare plans...
 
In the Central a part timer with 25 years vested will be able to collect 1,350 under age 60. Your health insurance runs around 400 a week or 1,600 a month... so when you retire at age 46 do the math, Medicare doesn’t kick in till age 65, that means you have to find health insurance for another 19 years after you retire...face it you are in a classic Catch-22...smart move is to stick it out till the 2023 contract and hope that O’Brien can negotiate improvements in the part timer’s’ pension and health and welfare plans...
In health insurance increasingly gets more expensive in each and every year who knows what they're going to charge you in the future. Trust me I understand what we get out of this place can you have to really think everything through.
 

ski or die

Ski or Die
Our supplement is 30 years and out at any age, pension and insurance although its $150 per month for the insurance till you turn 65 and Medicare kicks in.
 

Johney

Well-Known Member
Yes if you are retiring under Central States and are covered by TeamCare you must be 55 years old to be able to get retiree healthcare at a cost of $400 a month per family or $200 a month for yourself. Take note that under the family coverage any child under 25 must be a full time student to meet qualifications.
 

burrheadd

KING Of GIFS
Just put in for retirement after 25 part time apparently I’m eligible to receive A pension 25 and out, i’m taking it while I’m still young and I can get around, got a letter from team care The other day telling me I was eligible for retiree health insurance but only if I was 55 years old, i’m confused because in the contract (Central States) it said when you retire you can stay on the insurance until you’re eligible for Medicare so I’m kind of frustrated because I got at least 9 years before I’ll 55. I don’t mind paying for my insurance at my day job but do they expect us to stick around for 30-35 years until are limbs are practically coming apart! Is anybody on here retired part time at 25 years or 30 before age 55? Thanks in advance!
No retiree insurance in Central States unless you are 55
 

Brownier

Member
Not strictly true. A few locals still cover retirees under 55. Mine does but also isn't on Teamcare either. It uses UPS/Aetna for retirees.
Yes, I’ve herd this, It just didn’t make sense to me I put in for a Retirement at UPS because, UPS controls our pension meaning part-timers. team care got wind of me retiring and sent me a letter telling me you are not eligible for our insurance until you’re 55 years old, i’m covered when I turn 55, I believe I have to get a hold of corporate to see about the Ups/Aetna till I turn 55, thanks for the info
 

Johney

Well-Known Member
Yes, I’ve herd this, It just didn’t make sense to me I put in for a Retirement at UPS because, UPS controls our pension meaning part-timers. team care got wind of me retiring and sent me a letter telling me you are not eligible for our insurance until you’re 55 years old, i’m covered when I turn 55, I believe I have to get a hold of corporate to see about the Ups/Aetna till I turn 55, thanks for the info
If you are under TeamCare you can retire and collect what pension you get,but you will not get retiree health benefits until you reach 55. Almost everyone I've seen leave UPS where I'm at all waited till they were 55.
 

BigUnionGuy

Got the T-Shirt
Not strictly true. A few locals still cover retirees under 55. Mine does but also isn't on Teamcare either. It uses UPS/Aetna for retirees.

There are 5 Locals in the Central, where the age is 52. These Locals had the company insurance until the change.

Prior to TeamCare the age was 50. Locals that had Central States (C-9) insurance it's still 55.


I believe I have to get a hold of corporate to see about the Ups/Aetna till I turn 55, thanks for the info

Nope.

You misunderstood his post. You'll be eligible at 55 with TeamCare.
 

Johney

Well-Known Member
Also keep in mind the retiree healthcare is a tad bit different than what you have while still working. Not much different but there are some changes.
 

oldngray

nowhere special
Also keep in mind the retiree healthcare is a tad bit different than what you have while still working. Not much different but there are some changes.
Usually higher deductibles and co-pays. Not usually a big difference but not exactly the same. Plus there are lifetime limits on retiree plans (Obamacare guarantees don't apply to retirement plans).
 

Johney

Well-Known Member
Usually higher deductibles and co-pays. Not usually a big difference but not exactly the same. Plus there are lifetime limits on retiree plans (Obamacare guarantees don't apply to retirement plans).
Dr. office co-pays are still $20 and I may pay $5 for a prescription that was $0 before.
 

oldngray

nowhere special
Dr. office co-pays are still $20 and I may pay $5 for a prescription that was $0 before.
$200 yearly deductible for me before it pays anything, then mostly 80% for everything after that. I will see a charges of just a few dollars that are more annoying than anything else. And a $500k lifetime cap. Not an issue unless I get a serious illness. Prescriptions it pays 80% which means generics that used to be free I might owe a few cents on and I hope I never need a really expensive medicine.

This is all with the qualifier my yearly out of pocket is capped at $2000.
 

Jones

fILE A GRIEVE!
Staff member
In my local as long as you have 25 FT years you qualify for retiree health insurance. The deductible is $350 vs $100 while working, then the plan pays 80% up to $10k so out of pocket max is $2350 vs $400 while working. Lifetime cap is 1 million. Other than that everything is the same
 
In my local as long as you have 25 FT years you qualify for retiree health insurance. The deductible is $350 vs $100 while working, then the plan pays 80% up to $10k so out of pocket max is $2350 vs $400 while working. Lifetime cap is 1 million. Other than that everything is the same
And how much do you have to pay per month for that?
 
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