Thread regarding Ford layoffs

New Healthcare Costs to Budget For When Considering Early Retirement

Now in 2020 the 2 health insurance plans offered are as follows:

PPO 3600 +HSA
You only/ You + family (spouse + children) $215/$430 and deductible for In-network
(You only/You + family) $3,600/$7,200

Until the 7200 deductible is met NOTHING is covered (including pr-scrip-ions) except preventative care (one physical, vaccines, pap smears, routine screenings). After deductible it is a 20% co-pay for most services, higher for ER, urgent care and specialists. There appears to be extra fees if your spouse works and declines their offered hc insurance because when we plugged our info in, the monthly rate was $560 per month

For the PPO 4000
You only/ You + family (spouse + children) $290/$580 and deductible for In-network
individual 4,000 family 8,000. After deductible 20% co-pay but Primary care visits are $30 and specialists $50, ER visits $150 otherwise basically the same.

These plans are for those of us who have not hit medicare age yet. I don't see how Ford can claim to be investing $6, ooo in each individuals benefit plan as the family rates are comparable to the open market. After 41 years of service this is frustrating and disappointing. How are families expected to
come up with an initial $13,920 for health insurance when they were promised comparable benefits after retirement?
The retirees really have no recourse as of yet but perhaps as others have mentioned media coverage and more importantly legislative pressure may curb this trend.

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| 1441 views | | 9 replies (last December 9, 2019) | Reply
Post ID: @OP+120agr8H

9 replies (most recent on top)

The change is a big year-over-year change for retirees that are pre-medicare, with no warning. In 2019, similar to salaried employees, salaried retirees paid no monthly insurance contributions (fees), paid all medical bills up to their deductible, then paid 20% up to the out of pocket max -$7K. This changes in 2020, with the $430 per month insurance fee ($5160 annual increase), an increase on the deductible ($3200 - more - out of pocket YoY), but what is worse if the doubling of the max out of pocket to $14K ($6800 increase). This looks like a $15-20K increase YoY should you have just one major health issue or are having ongoing issues. This shifts burden to salaried retirees while employees retain their 2019 rates and benefits for 2020 (for now). After working 35+ years at Ford and knowing previously that retiree benefits pretty much mirrored employee benefits, it doesn't sit well and is a big negative on the Company and how it is treating those who served it well.

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Post ID: @qssq+120agr8H

It’s called insurance.... it’s to ensure you in case you get very sick. 7200 max out of pocket for a triple bypass isn’t much.

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Post ID: @9ysv+120agr8H

I retired because I didn't have to work anymore and didn't want to work anymore. I would have simply stayed at Ford if I wanted/needed to keep working. Decent pay, minimal work.

Some folks need to keep working to keep their sanity - not me!!

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Post ID: @1efa+120agr8H

I retired September 2018 and had no plans to work again. However, I was recruited by a non automotive company with a 25% salary increase and $20k signing bonus. Plus healthcare for a small expense.

Ford's retire healthcare cost increase made this choice easy.

Choosing to work is very different than having to work.

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Post ID: @1jql+120agr8H

Your better off not paying and filing for bankruptcy or moving to another country. I would not pay these insurance companies, they are not covering anything, I mean if you have an existing condition and the numbers work fine. It's not affordable in any way. My dream is to see all of us not pay and see the insurance companies cover more or go out of business, they are just grabbing your money. It's a joke. United Health, bluecross making huge profits and your giving it to them. Kick them out, don't pay!!

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Post ID: @1rya+120agr8H

I don’t think the retirees think the world revolves around them. And yes other people have it worse. That doesn’t make it ethical or reasonable for a company to offer early retirement packages that will include the same medical benefits provided while working until the retiree is eligible for Medicare and then increase the cost significantly without warning. It is not unreasonable for them to be angry that Ford pulled a bait and switch on them.

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Post ID: @1ymh+120agr8H

Yeah go figure. These guys are b!tching about $430/month for a pretty darn good plan.

I just don't get it. They think the world revolves around them.

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Post ID: @1ecc+120agr8H

I am getting ready to retire from a telecom company and even with a subsidy, I will be paying 16,500 a year for self and spouse. It's a good plan, but still...... As a employee of a big company, I never thougth about how to fund medical coverage. My out of pocket was negligible. What an eye opening experience.

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Post ID: @1oad+120agr8H

Do you think it's different at any other competitor? Do you think Ford is worse?

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Post ID: @gxo+120agr8H

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