Received notification yesterday that this is the last year for selective T subsidized heathcare. Next year for calendar year 2024 you have no option for T subsidized heathcare. Everyone gets the UHC provided at&t group advantage plan. It will stay this way for five years running. At that time the company will evaluate if they will offer any T subsidized healthcare. You go Stankey!
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"The thing about this is benefits were always sold to us as part of our compensation"
Specifically, called the Modified Rule of 75. I think that is the reason we're getting anything at all. There's nothing to lose on a lawsuit for deceptive employment practices if they completely pull the rug out from under us.
These cutbacks have all the earmarks of a dying company. A company with $135B in debt, and no way to pay it off. It stands to reason that the loss of equity in at&t at around $300B has rattled the company to its knees. Time to give special thanks to our favorite leaders, Stankey and Stephenson. Just look at what they have done for our employees and shareholders.
The thing about this is benefits were always sold to us as part of our compensation - if they don't dollar-for-dollar put that amount back I put paychecks, this could be an enormous cut in pay in practice.
Anyone who thinks this isn't a huge FU to employees is a company simp.
Is it too late for management to unionize?
"Starting in 2028 there will most likely be no T subsidized heathcare."
I was worried that would be the case in 2024. Reading the prior letter:
The experience within the Exchange plans has been positive and we are able to keep your HRA crediting amounts through 2023. Beyond that, future changes in HRA crediting amounts, if any, will be based on several factors. These factors may include business conditions, government actions, marketplace changes and the general consumer inflation rate.
Well, the HRA is gone, but there is a bankruptcy preventing replacement. So, the current letter says:
This plan will be available for at least 5 years at which point we'll re-evaluate the options available based on the healthcare and regulatory environment, much like we're doing now, ensuring we continue to provide market-level retiree benefits.
I'm reading "ensuring we continue" after 2028. Lets not forget the other problem, that we're all continuing after 2028.
Well they have done it. For the next year please celebrate our final year or selective heathcare. Starting in 2028 there will most likely be no T subsidized heathcare. We will have officially lost all benefits we worked for, with the exception of a 15K burial stipend. How quickly we lose everything we worked for!
Millenials, gen Z and y are screwed. We get no pension and now no subsidized healthcare insurance in 6 years. I hope we all have a rich uncle!
will have to pay another $50mo for the spouse for 5 years
My letter says one year, the next four are free.
There is going to be one kind of retiree where this plan might not work, and that is veterans eligible for Tricare. The mandatory Part D component when the veteran is eligible for Tricare prescription coverage may result in increased costs to the retiree.
Generally, veterans eligible for Tricare are told to avoid Medicare Advantage plans that include Part D. Indeed, I think the majority of Med Advantage plans without Part D have that in mind.
That's why this one-size-fits-all approach has problems. I think two or three sizes would be better.
I just got my letter today.
Employees have to pay their Part B for themselves and spouse. The the spouse will have to pay another $50mo for the spouse for 5 years - at which time t will decide if they want to continue their commitments made during employment.
No Thanks! I will keep my Supplement Plan F and drop and encourage all retirees and active employees to drop all services.
Depends which company you were working for. In late 90s ameritech stopped give retirement benefits to anyone hired after that date. Managers.
I want free healthcare and I want it to cover everything.
Wow! Hit a nerve. Employees and retirees are going to have coverage through 2028. Then the company will determine if they want to provide any healthcare insurance or subsidy for insurance. If you read the tea leaves, you can count on no healthcare in 2028 or thereafter.
Both! No one gets out alive with Stankey in charge.
Question for OP. Is this for post Medicare HC, pre-medicare HC or both?
I can't remember anyone ever promising me medical / healthcare for life.
You've been there for 25 years, and the modified Rule of 75 doesn't ring a bell? The rule where if you stayed until you reached the finish line, you'd get your health care?
Stink is an Indian Giver. I expected this because he is a person of low moral character.
I can't remember anyone ever promising me medical / healthcare for life.
I remember those days. Coverage for employee & Spouse for life. That was
Southwestern Bell Telephone however.
avoided hra stipend, pay out of pocket and chase them for reimbursements. no thanks. jmho
I can't remember anyone ever promising me medical / healthcare for life.
I recall enough talk about working long enough to reach eligibility for "post-retirement benefits". These benefits were dangled in front of the employee to induce longer term employment than would otherwise be the case, and I think should properly be viewed as deferred compensation.
That said, they have a free substitute for Medigap that, with that low out-of-pocket would cost north of $200/month in the markets, along with good coverage for the spouse too. I'm not crying.
Medical benefits should only be for active employees. Retires should be out of pocket until Medicare/Medicaid kicks in. Or at least access to company healthcare exchange but would be at cost.
Ok, I joined ATT 25+ years ago and as management I can't remember anyone ever promising me medical / healthcare for life. Does (or did) the union promise medical for life?
Please re-read, I said last year for SELECTIVE.
And yet I remember every year my VP Division District AM or M - even when I was one of these on up - stating that they realize I/we could make more money elsewhere but our benefits are the best anywhere. When we had BXBS they were correct. Then the benefits were cut, diminished, ended. There are no benefits working at T anymore but our healthcare was the 1 main reason people worked at this he-l hold. We were promised yes promised that we had healthcare for life and into retirement since we worked for this. Now because of stupid mistakes Stankey wants to cut us out while stealing $25 million for bad or no leadership and stupid decisions he, Randy & yes ED made. I hope they go straigh to h3ll when they pass.
It is subsidized. It is a $0 premium, low deductible, low out-of-pocket substitute for Medigap. The problem is, everyone's situation is individual, so a one-size-fits-all solution isn't going to fit with all.
Right now, I have $0 Med Advantage with a free physical exam, dental and vision and a $10000 out-of-pocket. The HRA is used to pay Part B premiums. That's the "size" that fits me.
AT&T's plan wasn't worth a $2400 loss in HRA funding for me. But, for free, I'll probably take it. I'm assuming a $300 vision/dental cost and Med Part B costs as the loss.
What a rotten indian giver.
Go back to sleep Stankey.
It’s not about be liked. It’s called running a business and benefits are a benefit. Not required to provided anything except a paycheck every 2 weeks.
See, I tried to tell you Stankey doesn't like us!