Question for recently RIF’d at retirement age - Were you offered any package that included medical insurance or other retirement specific benefits? (Or is that optimistic to the point of delusional??) Thank you.
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I received health benefits that last until my severance payments end. Also got a mailer with a big picture of a smiling Gail thanking me for my service and a link to a site to select my retirement gift.
I was told you had to be 65 years of age before you got a pass on having to apply for state unemployment in order to receive the supp pay (maybe the rules are state specific). I agree that if you have money in the medical insurance retirement account from 2012 and prior, you could use that to cover the high cost of COBRA or a Medicare product only from Anthem/EH. Other than that, there is no health insurance retirement benefit from the company unless you are at the Executive level. I have never heard anything about a watch gift for retirement (and who wears watches anymore. Everybody I know uses their Smart phones for the time). Maybe the Executives receive that. I was told you can select a product from the same catalog that they send for the work anniversary gifts.
I was older than 62 with 15+ years when I was RIF’d last month and I had to apply for state UI insurance with ELV paying the rest so it equaled my regular pay. ELV doesn’t call it severance. It’s called supplemental unemployment.
Normal RIF gets you insurance for the supplemental period
Depending upon how long you have been here, you may have money in your Retiree Medical Spending Account
- while you may have a balance the elephant has stopped adding and offering this
- the money in this account can be used towards the purchase of Anthem insurance say COBRA or medicare supplemental. Again it has to be used for the purchase of an Anthem "product"
While I cannot speak directly to the most recent round, previously, if you were of a certain age (perhaps 62 or older) and had enough years of service, you did not have to sign up for your state's unemployment. Meaning the elephant paid the full amount.
Also in the past, again based upon age and years of service, AIP could be prorated. (For example, you might get some money in 2025)
- remember that someone will be in control of determining what you get (perhaps your current people leader). Many leaders were told, in the past, to make it as low as possible for those no longer with the company that were going to get an AIP.
Also in the past, HR has reviewed folks who were
- RIF-ed that did not say they are retiring
- had enough years of service
HR would set those folks to retired. This would cause a retirement watch to be sent out , some time later.