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UPS Health Benefits Shock for Retired Union Employees
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<blockquote data-quote="beentheredonethat" data-source="post: 1083456" data-attributes="member: 4886"><p>Per other teamsters on the forum they quoted the contract that specifies what UPS pays out (first 6250) then after that it is 50/50 split based on costs last year. How exactly the cost is analyzed, such as do they only look at costs of retiree insurance for people who are maried with family and divide by that number (so if there are a relatively small number of retirees with family insurance and a few of them had large expenditures is that why family insurance is so expensive? Or are they combining all retirees and avg number of people covered to come up with it, I do not know...... I also don't know if based on trying to raise the rates earlier with Local 705, UPS paid above and beyond the contract and is now implementing it coinciding with the end of the contract. I don't know exactly how. </p><p></p><p>It's ironic, my cost of paying insurance (for a family) is almost what it is going to be for retirees, and lots of folks indicate I don't understand. </p><p></p><p>As far as last line, the insurance goes up when the costs insurance pays out goes up. </p><p></p><p></p><p>If you don't believe me, fine.. I get that. If you don't believe UPS, fine... I get that too.</p><p></p><p>Do some of your own research.. Call up 2 or 3 or 4 insurance companies that offer insurance and find out what they would charge you for individual (or family) or family with children insurance and what your monthly charges would be, also find out what it would cover. </p><p></p><p>I'm fairly confident that after doing that research you would realize how much insurance costs and the rates listed is still a good deal vs buying it all yourself.</p></blockquote><p></p>
[QUOTE="beentheredonethat, post: 1083456, member: 4886"] Per other teamsters on the forum they quoted the contract that specifies what UPS pays out (first 6250) then after that it is 50/50 split based on costs last year. How exactly the cost is analyzed, such as do they only look at costs of retiree insurance for people who are maried with family and divide by that number (so if there are a relatively small number of retirees with family insurance and a few of them had large expenditures is that why family insurance is so expensive? Or are they combining all retirees and avg number of people covered to come up with it, I do not know...... I also don't know if based on trying to raise the rates earlier with Local 705, UPS paid above and beyond the contract and is now implementing it coinciding with the end of the contract. I don't know exactly how. It's ironic, my cost of paying insurance (for a family) is almost what it is going to be for retirees, and lots of folks indicate I don't understand. As far as last line, the insurance goes up when the costs insurance pays out goes up. If you don't believe me, fine.. I get that. If you don't believe UPS, fine... I get that too. Do some of your own research.. Call up 2 or 3 or 4 insurance companies that offer insurance and find out what they would charge you for individual (or family) or family with children insurance and what your monthly charges would be, also find out what it would cover. I'm fairly confident that after doing that research you would realize how much insurance costs and the rates listed is still a good deal vs buying it all yourself. [/QUOTE]
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