i was told the union has some kind of a benefit for early retiree medical ( those before age 65 ) i looked in our contract and the verbiage confused me, does someone whose 60 and wants to retire now get some kind of medical benefit? thank you!
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If after 1993 and you’re in IAM you will get about 3 percent discount for every year of service. So if you have 20 years your out of pocket costs would be 1/3 of the premium. Good luck
If one was hired Before 1993, contract states you pay $20.00 per month, $30.00 for a family. One continues to pay until your on Medicare. After 1993; COBRA insurance is approximately $680.00 per month. You can’t afford to retire early, unless your spouse has a plan from their employer.
For SPEEA (Professional & Technical Union) there is a document "Summary of Your Benefits When You Leave the The Boeing Company".
You are able to access and search for it in the Worklife platform.
For the Boeing Retiree Medical coverage, you have to be hired anytime BEFORE January 1, 2007. You have to be at least 55 years old (OR within 6-years of layoff) and have 10 or more years of vesting service.
The Boeing Service Center can assist you when you enroll as they have access to the HR records that notifies them if you are indeed eligible.
Boeing retiree medical terminates at age 65, so you'll need to enroll in Medicare/Medicaid and a supplemental medical plan of your choice.