Thread regarding General Electric Co. layoffs

I was told in 2017 by HR that the rates for pre-65 retirees would be a little higher than for active employees, but I was not expecting the 70% increase, and it was quite a shock. Note that the percentage increase over the rates for pre-65 vs active employees was more for me for Option 3 than for Options 1 and 2, but I opted to stay with Option 3 so I could continue to contribute tax free to my HSA account. Once you reach 65 and GE pushes you onto Medicare you can't contribute to your HSA anymore and I wanted to maximize that since I hadn't had as many years to contribute to it as younger employees will have.

I just received this year's packet in the mail. My rate for the pre-65 insurance is the same as last year. This was a pleasant surprise as I noticed that the rates for active employees went up a fair bit. Now my coverage for 2019 is only about 50% more than if I was an active employee. Still not great.

Your comments are interesting and disappointing. I am 60 with 30+ yrs with GE and was told last Feb that the rates "were the same" as a full time employee. 70% is a huge surprise.

I turned down the offer in Feb and the new offer this month. Bottom line is if I get laid off or take it the exit package is the same so we'll see what happens.

Don't know how it is calculated but pre-65 retirees will receive a rate sheet in the mail in the same format as for the current employees. I am a pre-65 retiree with 30+ years GE service. My Type 3 coverage last year cost me 70% more than if I was an active employee. Not as much as Obamacare would have been but close. I haven't received this year's packet yet. Can't wait to go on Medicare at 65!