ATT Cancels Retiree Health Plan

[MedSuppPro]

Why do I see a future class action lawsuit from angry retirees whom were promised health insurance for life vs. the "here’s some dollars now go away plan"?

If they can dump granny into a “here’s some dollars now go away plan” and she can’t find comparable benefits (i.e PartD coverage through the donut whole / N Vs. F MedSupp) that she had prior, then she’s being shorted and that smells like a class action lawsuit. IMHO.

Chris's video exposes some of the problems these HRA's will cause that corporate will miss in a ANO presentation.

If each retiree's HRA account has $2700 per year to spend on their health insurance needs, then that equals only $225 per month. So for the 75 year old male, after his AON MedSupp purchase of $234.04 per month, he would only have $9.04 left over for the purchase of a PartD plan. And for the 80 year old female, if she purchased the striped down N plan @ $220.78, she would would have $4.22 left over for a PartD plan. Good luck finding a PartD plan for 4 bucks a month!

This hits the hardest the most vulnerable in the group. The sick and or the older retiree. The healthy 65 year old retiree will love it!

 

[somarco]

Employees covered by collective bargaining agreements knew, or should have known, it was coming. Any change in benefits is negotiated and part of the CBA.

Exempt and non-union employees are different. Promises that are part of your employee handbook are subject to change on an annual basis.

Eastern Airlines employees were "promised" jobs but that all went away when the company went belly up.

Most of the changes in retiree benefits are in response to changes in the tax code put in place to raise tax revenues. There was also a change in the way employers reported retiree health costs under FAS 106.

It's not just the private sector.

Unfunded liabilities for retiree health plans in the public sector are $600B to $1.6T depending on whose estimates you use.

Retiree plans, pension and health insurance, are becoming non-existent largely due to govt over-regulation. The decline in traditional pension plans began with the passage of ERISA in 1975.

Obamacare made it easier for employers to make changes to plans, or eliminate them entirely, because of all the new mandates.

Retirees generally don't want or need to pay for birth control or maternity.

Defined benefit health insurance plans will continue to erode in favor of defined contribution. Here is some money. Go have fun with it.

Companies like Towers and Aon have capitalized on the change by establishing retiree "exchanges".

 

[belkat125]

I am an AT&T (Bellsouth) retiree. My wife and I have been exposed to Aon's "customer service," which is a joke, and not a funny one. We are SO grateful to have found this forum and at least feel that we have better options than Aon offers. Thanks to all for the great information -- we are truly grateful.

 

[somarco]

Thank you for your kind words Belkat. This forum is populated with agents from all over the country who would be willing to offer specific advice on your options.

Let us know how we can help

 

[belkat125]

Thank you for your kind words Belkat. This forum is populated with agents from all over the country who would be willing to offer specific advice on your options.

Let us know how we can help

We feel like we've learned more in 1/2 day in this forum than we have in the last 6 months. We are in the 32931 zip. We are planning to purchase a PDP thru Aon to secure our $2700, and a Medigap plan somewhere....def NOT Aon. We can see that all their shiny brochures and cheerful reassurances are just smoke and mirrors. Their reps don't seem to understand the business they are in, and perhaps we have completely naive about the whole issue! We are ready to learn more about what is available to us.

 

[DS4]

. Their reps don't seem to understand the business they are in, and perhaps we have completely naive about the whole issue!

Most of us in the Senior Forum have forgotten more then those AON telephone reps will ever know.
I'm sure there are Florida agents here that can help you.
Another thing, any product AON will sell you, an agent on the forum can quote the exact same price!
Those telephone reps were all probably working at 7-11 two weeks ago. Some of the agents on this forum have 10,20,30+ years experience.
I personally started when Jimmy Carter was in office. I'm not licensed in Fl.
Rick on this forum started when Franklin D. Roosevelt was in office. Rick is licensed in all 57 states.

 

[WCMason]

My first ATT retiree contacted me today after his meeting with Aon. While the Aon rep did not offer the information that he did not need to get both med sup and drug plan in order to get the reimbursement, when my prepared prospect ask him about that he did confirm only one plan had to be gotten through them to get the benefit.

He was only prepared because this thread allowed me to prepare him. So, thanks to all. I will be writing meds sups for he and his wife in October.

 

[somarco]

Email from a (soon to be) client that arrived earlier today.

I am just not dealing well with this whole process and am most grateful for your input. I don't know if I mentioned this previously but dealing with a 20 something kid (yes everyone has to start somewhere) is hardly reassuring.

 

[beachbum2012]

Will Aon bother writing a Plan G for a retiree older than 65 since it's not a guarantee issue plan, or will they just stick to the GI plans like F, C, etc.? They do have quotes on their website for Plan G that are the lowest premiums in my area for men and women for most ages.

Also, my agency only pays commission on 4 companies if it's a GI, and 3 of those are only 50% commission. The one company who will be the best rate in most cases is 50%. Plan G is typically a better deal than Plan F anyway in just about every case. So would you guys try the Plan G w/ underwriting first, then come back and do GI only if the client can't pass underwriting? I'm all about helping people, but I can't do it for free, and I don't really want to do it at half-commission.

 

[WCMason]

Forgot to add in last post that the prospect was informed by Aon that the family contribution is $4200 per year. The individual contribution is $2700. I don't remember seeing any previous mention of the family limit.