ATT Cancels Retiree Health Plan

[somarco]

Nana, thanks for posting and for the kind words. I am sure there is someone that is familiar with plans in your area that will respond before long. Many of our agents work several states by phone, so even if there isn't someone in your part of OK you can sleep well knowing they are qualified agents.

The only real gray area is will AT&T continue to fund the HRA going forward and how much.

It seems to be set in stone at $2700 for the retired employee + an additional $1500 for a qualified spouse.

I have talked with people where the older spouse is 65 or older and the employee is under 65 and still working. The 65+ spouse is eligible for $1500 and at some point the employee will turn 65 and hopefully get the $2700.

The one thing you do want to do is consider a Medigap plan from an independent agent but buy your Part D from Aon to collect the HRA money.

 

[Nana5]

Thank you for the information. My husband and I are both over 65. I know what you mean about long term. Other retirees have told us that the company is non-committal after 2015. Oh well. One day at a time. I have been trying to figure out which plans to look at, so thanks for the tip on Medigap. I think I have found the drug plan to use for AON. Again, appreciate your help!

 

[somarco]

Ask the agent you use to check your med's against the plan you think you want. If you haven't reviewed Rx plans before it can be perplexing.

Also, at 65+ if either of you cannot qualify medically, the guaranteed issue options where the agent can be paid are limited. There is just as much work and liability for an agent that is paid $0 or $25 one time as there is even for a reduced commission level.

Many agents are willing to help out, even at half the normal compensation but few are willing to work for nothing.

 

[Newby]

Scott, I talked with an Alcoa retiree a few weeks ago. Don't have my notes in front of me but I believe Alcoa contracted with Towers Watson and are using oneexchange dot com The first rep she talked to said she was calling on behalf of R-Cola. Again, going from memory, they get a $750 allowance for buying through T-W. I am reasonably sure they can just buy the PDP and still get the HRA $$$ ---------- Found the R-Cola T-W Medicare quote site https://medicare.oneexchange.com/

Thanks. That's good info.

Looks like they get a one time stipend between $500-$800 depending on their years there as far as I can tell.

 

[somarco]

The AT&T stipend may be one time too. No guarantee it will continue which is even more reason to have someone other than Aon to go to for advice.

Alcoa, AT&T, PepsiCo, etc don't want to be committed to continuing this program so they are saying it is one time. I tell my folks to take advantage of it as long as you can and hope it will continue but plan for it going away as well.

 

[Newby]

The AT&T stipend may be one time too. No guarantee it will continue which is even more reason to have someone other than Aon to go to for advice. Alcoa, AT&T, PepsiCo, etc don't want to be committed to continuing this program so they are saying it is one time. I tell my folks to take advantage of it as long as you can and hope it will continue but plan for it going away as well.

I didn't know about Pepsi. What is the scoop on them?

 

[somarco]

I talked with a fellow about a month ago. Retired from Tropicana years ago. 85 years old, now his PepsiCo-Tropicana plan is being canned. (No pun intended).

He didn't have all the particulars, didn't understand why they were cancelling his plan. I have not had time to pursue it and see who is handling PepsiCo but they are doing the same thing.

Bye-bye retiree health coverage, hello HRA

 

[Newby]

I talked with a fellow about a month ago. Retired from Tropicana years ago. 85 years old, now his PepsiCo-Tropicana plan is being canned. (No pun intended). He didn't have all the particulars, didn't understand why they were cancelling his plan. I have not had time to pursue it and see who is handling PepsiCo but they are doing the same thing. Bye-bye retiree health coverage, hello HRA

I have a great connection with Pepsi. If they are getting screwed over he could bring me a lot of biz. I need to take him to dinner.

 

[HoosierLife]

I talked with a fellow about a month ago. Retired from Tropicana years ago. 85 years old, now his PepsiCo-Tropicana plan is being canned. (No pun intended). He didn't have all the particulars, didn't understand why they were cancelling his plan. I have not had time to pursue it and see who is handling PepsiCo but they are doing the same thing. Bye-bye retiree health coverage, hello HRA

And is all this a direct/indirect result of obamacare?

 

[Newby]

And is all this a direct/indirect result of obamacare?

No. It's because George Bush left him with such a mess.