It's imperative that you determine FOR SURE whether you are or are not eligible for subsidized medical. Many are not. I was. Don't guess at this. You can wait on hold with benefits for a definitive answer, but the quickest way to check now is to look at your latest YTR statement (from Feb 2020, covering 2019 compensation). There is a section "Medical Benefits In Retirement" that definitively tells you the answer. Also, if you didn't get this email yesterday that many are talking about, safe bet that you were not eligible either, as it was only sent to those that are eligible. But check your YTR anyway.
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I was union occupational, and avoided management specifically because after a certain date, new people in management weren't eligible for post-retirement health benefits. That was in the late 90s. Of course, that varies depending on what company you were working for.
Interesting that my YTR shows I am not eligible but the problem is I should be. I started in craft and transferred into management so I hope and wonder if this is an error.
"you can enter your retirement date - and the site will calculate your med insurance costs - bronze is about $530 a month"
can someone provide the site/link where you can see your med insurance costs by putting in retirement date?
thanks!
" Where exactly in the YTR does it indicate this? I don't anything one way or the other"
You must look at last year's (the most recent). It's there. They hadn't done it in the previous years.
Go to elink, employee services...look at "quick links" on the right side of the page. See YTR link under Payroll and Taxes, make sure you select 2020 on the following drop down.
See a header entitled "Medical Benefits In Retirement", mine is on page 3 of 7. It's spelled out there.
This is off the top of my head what they are taking. Please correct me where I'm wrong or am missing something.
12/31/20 - No post Medicare supplement.
12/31/21 - No post retirement/pre Medicare subsidy but you are allowed to stay in their program for full price.
Pension went from 1.2% to 0.75% of your pension value divided by 12 starting 1/1/22
Where exactly in the YTR does it indicate this? I don't anything one way or the other. Which may in itself say something of course...
Thanks for the info on YTR. Very disappointing that one works for a company for so many years hoping to reach the goal (medical benefits in retirement) after reaching the rule of 75; only to find out they don't qualify based on technicalities (that have no bearing on your actual years of service) and what I would call "rules salad."
Note that calling the benefits line directly (and waiting an eternity) was useless - they had no clue and could not tell me. The rep had never even heard of the rule of 75. Your info was the only definitive answer I found. And the answer was "N." Thankyou
you can enter your retirement date - and the site will calculate your med insurance costs - bronze is about $530 a month
YTR= your total rewards, which we get around mid Feb every year when we’re told our annual raise and bonus. Should be in HR One Stop, enter YTR in the search box and a link should pop up
Please advise: what is "YTR statement" ? Where can I find it? Is it in the elink system ? Thanks much.
Does anyone know, how much is the medical supplement that they are taking away if you retire after 2021? For those retired before age 65, how much does T kick in to pay for your medical insurance until you reach Medicare age?
Great advice, you'll see the indicator of eligibility in the body of the statement.