So if I leave the company next year, I get health care retirement benefits for 8 more years for me and my wife, per current AT&T policy.
But can AT&T stop subsidizing those health care plans after I leave say in 2023 for example, which then means I am responsible for the full cost of health care plan in retirement? Is it worth leaving the company next year, leave the severance pay and whatever number of additional paychecks on the table in exchange for promise of 8 years of health care subsidy?
Anyone have a copy of the letter from December when the elimination of the pre Medicare healthcare subsidy was announced ? If so, please post here.
You also need to factor in that bump in your lump sum pension that will go down when interest rates go up. That could be a sizeable amount and needs to come into the equation.
I qualify for rule of 75 in December... so I could retire with the healthcare subsidy - and pay early withdrawal penalties on my 401k for like 7 years, which would be higher than the subsidy. Or, just keep working for a couple more years and retire at 55 with no 401k penalty, but no subsidy. AT&T is unbelievably nasty, taking one of our most treasured benefits, and weaponizing it against us by using it as a tool to lure us off the payroll, just before stripping it away entirely for everyone else. Oh, and all this was announced just days after they stole a week of vacation from all employees with 20 years or more. That’s the same thing as a 2 percent pay cut, folks. It’s unthinkable. Those running the show now are morally bankrupt and lack any sc-ap of integrity.
Employees need to notify the media and SeekingAlpha writers covering AT&T so this hits investors and customers. The spin to investors is Stankey is desperate as profit degrades and is k–ling productivity long term. The spin to customers is AT&T not only screws you but their own employees and in covid times we all need to stick together and punish companies like AT&T. EVERYONE, NOTIFY LOCAL AND NATIONAL MEDIA AND FRIEND WHO ARE CUSTOMERS
“Marketplace insurance will cost me more than my pension.”
This. It’s shocking that this is true. Talk about changing the rules after the game has started. The Big10 changes it’s rules to let Ohio State play in the championship game and we get two weeks of frenzied sports media attention. 100,000’s of employees get their benefits stripped ... crickets. Where is the news media on this story?
"Does anybody know the % of non bargained (management) employees what get medical subsidy if they retire before being Medicare eligible?"
It's really hard to say...you'd have to have a breakdown of everyone's legacy company history and hiring dates, etc...
If you work in an area that's made up of largely senior non bargained from all different areas of the company (as I am), and did kind of a straw poll, it may give you a rough estimate. About 50% of us were eligible for pre Medicare subsidized healthcare. Those in that group are pre 1999 NCS date for the most part.
I I were to guess at a company wide percentage of non bargained retirement eligible affected, my guess would be somewhere between 25 and 50% of that population.
Does anybody know the % of non bargained (management) employees what get medical subsidy if they retire before being Medicare eligible?
More evidence that President Harris needs to implement national Healthcare and a national fitness test on Day 1! We would not even be having this conversation if the government were drafting us into the Public Health Service to deal with this national crisis.
You betcha they will, and keep probing to find creative ways to bend everyone over.
This is so wrong. I am 50 with 25 years, manager. If you think they won't screw with retiree benefits, you are so wrong. They will and current employees have just been dealt an ugly blow. Wow, nothing like changing the rules 25 years after the game began. Marketplace insurance will cost me more than my pension.
not only can they, but odds are they absolutely will. Sadly, one can not trust anything the company may have "promised" in years past
Yes they can. Non bargained employees have zero recourse.
7 hours ago by Anonymous | 6 reactions (+5/-1)
Post ID: @gle+18sRaAUK
Also bargained employees can lose it once the contract they retired under has expired. That’s visible with the loss of att provided supplemental coverage for medicare eligible retirees several years ago. They now have to find their own coverage and live with the stipend they get by going through AON.
I think this is complete c-ap that this company is treating "old" employees this way! I would meet the rule of 75 next year but I am way too young to retire. They have already pushed out so much talent nothing would surprise me at this point. Just sad!
Yes, 65 yo and still working without plans of leaving anytime soon! I refuse to allow any of these healthcare benefit reductions force me into retiring on their terms! I will leave this job when I'M ready!
"Medicare for all? I don't know. I think that may be where we are headed though. "
Well let's at least start Medicare at age 50. Clearly these companies don't want older workers. And clearly that is around the age when coverage for health insurance sky rockets. Give older workers Medicare for all. Any one over 50, that is really what is at minimum needed in America today.
" BCBS bronze is about 1100 and sliver is about 2200 without Pre65 subsidy"
Who in the bleep can afford that? (Among us working class types).
And you still need to hit a deductible. Medicare for all? I don't know. I think that may be where we are headed though.
It would not be wise to count on anything from them that they are not required by law or a contractual obligation that can't be wiped out in bankruptcy to provide, no matter what they say or are doing today. You've seen videos of the people running the company. What do your instincts tell you? And remember while you've seen these people, you haven't and never will see the cadre of $hitweasels inside and outside the company (consultants, various Wall Street types, etc.) that put the ideas in their otherwise generally empty heads. How much do you think they care about you? Do you recall a few years back when the company asked management employees to voluntarily sign away their right to ever sue them, and most people foolishly did just that? In light of what they've announced lately, do you think that was a random event? This company is not your friend.
ATT pre 65 insurance will still be cheaper than Obama care if you factor the lower deductible. BCBS bronze is about 1100 and sliver is about 2200 without Pre65 subsidy. The normal 6 month severance pay would cover some of that depending on your salary.
" My fear is what happens to those of us retiree's that turn 65 after 2023. Indications that the company will review weather to continue with the HRA for medicare eligible."
Sorry, but this one is a no brainer. It's been clear since that announcement last year that they are planning on stopping that HRA reimbursement for the Medicare folks after 2023. Especially with everything else they are doing right now. You can bet your bippy that will be going away.
" Is it worth leaving the company next year, leave the severance pay and whatever number of additional paychecks on the table in exchange for promise of 8 years of health care subsidy?"
With the announcement this week, the LITERALLY just broke a huge promise? Why on earth would you think that they might honor this one?
I am in the same boat as you. I am eligible for pre Medicare subsidy. I am not retiring, mainly because I am too young...and honestly right now the job market isn't that great (hopefully it will improve). The other reason I am not retiring is because, well, F them. That's clearly what they want. So F 'em, I'm not doing it.
They won't lay us off next year and pay us severance and put themselves on the hook for the healthcare subsidy. But as others have mentioned, my guess would be that folks like you and I are at the top of the list for surplus come 2022.
My fear is what happens to those of us retiree's that turn 65 after 2023. Indications that the company will review weather to continue with the HRA for medicare eligible. With what they offered this year it looks like they may force all medicare retiree's to an medicare advantage plan, or be on their own with no money.
absolutley and you can bet the will, such BS from company right now, they thought they would get oldtimers to voluntarily leave because of this, they are smarter than that, I have 2 employees that were thinking of retiring and said they will stay until 65 now because that is only way to insure benefits as active employee's . I did not qualify for this because I started after this was offered, but this is a big kick to those loyal employees who supported this company and before anyone posts these oldtimers need to get out, the 2 that work for me know more than 100 people combined, they are engineers and architects in our network that we NEED to win the 5G battle!!
Yes they can. Non bargained employees have zero recourse.
Yes. AT&T can take away this benefit from retirees at anytime. Unless you are ready to retire or you have another position available outside the company, my advice is to not voluntarily retire to qualify for this benefit.