retiree medical coverage going up
- Thread starter sendagain
- Start date
sendagain
Well-Known Member
I am just going to refresh this for those who may not have been paying attention. A letter just came out to our retirees out west, telling us our monthly payment for health care coverage has gone from $50 to $114.33. It seems the costs have exceeded the spending cap that was in place, which they never told us about, and now we are going to have to pay the difference out of our own pockets. This bill may rise indefinitely until you get on Medicare. How bout them apples?
rod
Retired 23 years
I haven't seen anything about raising the monthly costs here in the midwest- but I expect it anytime. The "pension package" should not be viewed as the golden carrot on the end of the stick. It is a very nice package that very few workers now days have but it shouldn't be they only thing to fall back on after retirement. There are no cost of living raises with the pension so from the day you retire you are losing ground. You must plan ahead and save and invest in other areas.
I do agree that planning ahead is necessary. I also agree that, like Social security, there are no COLA's in the pension. But, if we, and the company & pension funds, go into retirement knowing this, it would be nice to know the out of pocket expenses for insurance will not more than double overnight. If the rate of inflation is 3-5% annually then to receive a notice that the insurance is going to go up that amount annually is a little easier to digest. I do believe the "carrot" is what we all work toward & it should come with a semblance of security. But hey, I'm just one of thousands that helped build the company's reputation & helped fund CSPF; what do I know? Good night & good luck!I haven't seen anything about raising the monthly costs here in the midwest- but I expect it anytime. The "pension package" should not be viewed as the golden carrot on the end of the stick. It is a very nice package that very few workers now days have but it shouldn't be they only thing to fall back on after retirement. There are no cost of living raises with the pension so from the day you retire you are losing ground. You must plan ahead and save and invest in other areas.
Even in the private sector ,when getting your own med ins., you can't plan well.
You find a plan and a cost that you can afford today and every 6 months, that figure increase substantially.....
It's the invisible hand of the "Free Market"....
R
rocking chair guy
Guest
You're lucky , I retired from UPS under Central States in 2002 , monthly premiums for retiree health care was $50.00 a month then ....it is now $550.00 a month to cover me and my wife , and there is no dental or vision coverage under the retiree plan . We are in Central States but covered by the UPS insurance . Didn't count on that kind of increases in my insurance premiums when I retired and a big bite out of my monthly pension but stuff happens and life goes on . Not happy about any of it to say the least . Oh well .
How did these increases take place? Were they small increases over time or did one day they just say it is now 10 times what you were told it would be? Did you start out w/ the dental & vision & they took it away or was it not available when you left? You say you're not happy. I say you should be thoroughly p***ed. Anyone else out there had to deal with the same crap? Please let us know!!!Thanks
rod
Retired 23 years
It seems like every 6 months or so I get a notice from my Home Owners ins. co.telling me of something else they WONT cover but their rates continually increase. I agree it would be nice to be able to plan for these extra cost but about the only thing a person can do is bend over. That and shop around.Even in the private sector ,when getting your own med ins., you can't plan well.
You find a plan and a cost that you can afford today and every 6 months, that figure increase substantially.....
satellitedriver
Senior Member
How are you in the CS plan and covered by UPS insurance.?
CS takes over the insurance when you retire, if you are willing to pay the premiums to them.
satellitedriver
Senior Member
If you are in CS, just go to the website. It clearly states the premium you will pay, with the caveat, that rates may(yeah right) increase in the future. The teamster/CS pension benefit plan at it's best.
I'm in the CS, but in the last (I believe) supplement the co. was given an opportunity to present to the membership (after approval of Locals) an alternative plan that would allow CS members to take the UPS ins. plan after retiring for the $50.00/mo. that rockingchair mentioned. It was voted in by our local by a landslide but I was surprised to hear that not all locals had accepted it. It also includes dental/vision. That's why I want to hear more from rockingchair about what was available when he retired & how the increases came about. Also like to hear from anyone else that may have experienced the same things he did. ANYONE OUT THERE? thanks
satellitedriver
Senior Member
They want to pump me for $550.00 a month for insurance, when I am eligible for retirement
in 4 yrs. Increases can come about because CS has the right to do so, they screwup and can pass the costs along. It is in the fine print.
UPS can only supply the money, CS decides how it is spent.
ADDED TO PREVIOUS COMMENT...IS THIS A PART OF THE BEST(?) IBT CAN NEGOTIATE? WILL MEMBERSHIP GET TO READ SOME OF THE FINE PRINT BEFORE VOTING? IT ALMOST SOUNDS AS THOUGH PENSION INCOME WILL END UP PAYING FOR INSURANCE BENEFITS W/ LITTLE LEFT FOR THE EXTRAS, LIKE FOOD, CLOTHING, MORTGAGE, ETC. I WAS TOLD YEARS AGO THAT IF IBT NEGOTIATES A BENEFIT, THE COMPANY JUST HAS TO PROVIDE THE BENEFIT; HOW THE BENEFIT IS MANAGED IS UP TO THE COMPANY. SO FAR MY UPS INSURANCE HAS BEEN AS GOOD AS WHEN I WAS WORKING. I JUST HOPE PEOPLE WILL LOOK PAST THE WRITING OF THE FIRST FEW PAGES OF THE CONTRACT. THANKS FOR LETTING ME VENT AGAIN.
sendagain
Well-Known Member
Out west UPS provides the medical when you retire. It has been $50 a month for a number of years, but now they inform us that their was some kind of cap that was exceeded, so now the retirees must pay for the amount above the cap. It is cheaper than a lot of other people have to pay, but I wasn't expecting it to go up. Now, it appears it will go up and up and up and up. Why does this one segment of our society (medical coverage) seem to have unlimited, unrestrained increases unlike any other? What causes all these skyrocketing costs?
kenco80233
Well-Known Member
The same thing happened to me when I retired in 2003 in Colorado.
Are you in Local 435 or 17?
kenco80233
Well-Known Member
Local 435
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