What am I not seeing?
14 replies (most recent on top)
@cv this is incorrect. What you are referring to is the company paid benefits as part of severance. Those benefits can only be continued for a total of 18 months. ACA would be much cheaper. You can stay on Verizon's RETIREE plan (if you are retirement eligible) until you reach 65 and go on Medicare. Additionally, Verizon offers a Medicare Advantage plan if you choose it over original Medicare.
Verizon doesn't want to manage retiree's healthcare (up to 65), they want you gone.
VZ Retiree insurance is just Cobra if you are younger than 65. You can only be on it for 18 mos
Verizon retiree health insurance is typically for those retirees who are not old enough for Medicare.
Vz retiree insurance is $36k per year. I would not.
@ap Contact an insurance broker
The Medicare Family
800-970-1964
Visit TheMedicareFamily.com »
Verizon uses an outside company to help Medicare eligible employees (or they did). I'd call them.
Medicare has a two year look back at your yearly MAG salary. You may get stuck paying a Medicare part B ERM surcharge on top of the standard part B charge. You may also need a part D dr-g and part G plan. Total cost can escalade quickly.
Spend some time to understand your options any associated costs.
@a3 My part B Medicare and additional supplemental plan was still much cheaper than Verizon's retiree medical insurance. For management the insurance subsidy for retirees was capped at 2007 costs
Not everyone is an old fossil and eleigble for Medicare...
I hate to say this, but Obama care is actually cheaper than Verizon care.
@OP Have to do your homework. Medicare only covers so much. You need a supplemental insurance.
Part B supplemental.... Medical insurance in general expensive so whike you will pay monthly around $180 for part b medicare the supplemental Vz covers the 20% not covered.