I am 51 with 12 years of service. How long do I need to work to get retiree medical benefit? If 70 points is age + service = 51+12 = 63. This means I need to be employed 3.5 years to get to 70?
Is this 70-point in the US even worth it? I think it pays for a portion of health care. thanks
70 points is only valid in a reorg event as well. Read the US special severance 2024 doc for all the details carefully.
Shell will pay a percentage only based on years (eg 70%, 75%) of their portion (not of the whole thing). You still pay the regular employee portion so it can be expensive even with the retiree health care. I calculated based on 2024 costs for just me if Shell covers 75% PPO premium would be 371.30. With partner is twice that and family is really outrageous. Kelsey for 1 is 219.88 and HDHP is 239.20 for 1.
If you were hired after December 31, 2005, your retiree medical benefits are laughable. If you were hired after December 31, 2016, they are non-existent.
Please search shell web for US Offboarding guide. Hired after Jan 1, 2017--no medical plan for retirees.
Hired after January 1, 2006, before 2017--70 pts isn't worth much--the company throws some cash at the cost of your medical coverage, but doesn't seem great to me.
You need 20 years to be eligible for any medical benefit in retirement. For 20 - 24 years of service, Shell pays 70%.