12/28 VSP here. My VZ paid COBRA will be done in 30 days. There is the VZ Acess Pre Medicare plan but for single coverage I am looking at around $1100 a month with basic Dental. Anyone using Medishare? If so does it really work?
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I took VSP 12/28/18 and retired. COBRA runs out 2/29/20. VZ benefits said the only medical plan I have available is $1,000 indemnity through United at a cost of almost $6,000/yr. I have 41+ years service, legacy GTE. I don't think the information I'm getting is correct. I have recently retired friends with similar service backgrounds to mine and they have VZ retiree insurance through Aetna with different indemnity options at lower costs. Anyone else have a similar experience? Unfortunately, we are stuck with VZ benefits being our only source of info.
Be careful if extend COBRA however. If something happens to you during the 4 months, your significant other would not be eligible for the Verizon retiree medical, even if you receive a subsidy. My planner/attorney advised me of this.
@cmqe is wrong and @8cfs is correct.
#44of the FAQs state IN BOLD
"If you are eligible for Access Only retiree medical coverage and you continue on non-subsidized COBRA coverage following your separation benefit period, you forfeit your ability to enroll in the Access Only retiree medical plan."
This question was asked several times in Martha town halls and if you are retirement eligible AND receive a medical subsidy, you can exhaust all 18 months of COBRA coverage before switching. This is NOT true is you are Access Only. Either the person you spoke to did not understand your situation or you misunderstood what they told you. The difference is in Access Only vs. Subsidized.
So @cmqe, are you subsidized or not?
whoever commented about not forfeiting future benefits if you take COBRA is wrong, I just spoke with the benefits center again today and was told, for about the umpteenth time, if I continue COBRA for the next 4 months, I forfeit my retiree benefit in the future.
I was also told that I could continue COBRA for 4 months and then choose a Verizon retiree plan if I wanted to. As long as you receive a subsidy towards your retiree medical, you would not forfeit the ability to do this. Hope this helps.
"And if your severance benefit runs out 2/29, like mine, you need to sign up for whatever you are going to do by Feb 1st..."
That's interesting! I am not saying you are wrong but I spoke with the VZ Benefits Center about this and was told that since my Company paid COBRA ended January 31st I could choose or change my health care elections as many times as I wanted to before January 31st. Just what I was told anyway.
be careful because if you continue COBRA, you forfeit any future rights to VZ retirment health care, even the zero subsidized option. And if your severance benefit runs out 2/29, like mine, you need to sign up for whatever you are going to do by Feb 1st.....also, be aware, the life insurance changes dramatically, both for you and your spouse, in case that matters.
Just remember that COBRA has an 18 month limit. So if you got the full 60 weeks (call it 14 months) of coverage and choose to extend it, you will be back at the same place in 4 months looking for new medical insurance.
One thing with the Verizon management retiree health insurance is the relatively low copays and deductibles vs others. Thus even If a little more expensive it may be worth it compared to other cheaper plans.
@3bzi Thanks for the response. That means I need to save around $15K a year for health insurance.
@3rgtz:
Right now the Blue Cross/Blue Shield based plans I am looking at are around $850 to approx $1050 per month for single coverage. Naturally there is much more to look at on these things as the $850 has a $6K deductable. Its really the wild west out there. When you hear people saying they don't work for the paycheck as much as they do for health insurance I believe them.
If you're under 62 or 65, and pay for your own health insurance (not through the company) - please share how much you pay monthly (if you can/want to), so we (for those not retired yet) can get an idea of what we should save until we reach 65. Thanks for the help! Happy New Year!
That is a criminal amount of money to pay for something that not long ago was never a thought
We need a new plan, a new way, and leaders that actually can lead.
I'm going on healthcare.gov and keeping income within range to get subsidy. It's based on adjusted gross income. Verizon plan is unaffordable for me.
"Who cares , go get a new job and new benefits 62"
Much easier said than done especially if you are over 60.
Who cares , go get a new job and new benefits 62
If they are bitter, then they should join the union, they would fit right in, as union people are the most entitled and bitter people on earth.
Someone sounds bitter they aren’t Union.
Odd. In my experience, COBRA is 60 days post your last day at work.
Anyone see my EISP? I am still here begging for my crumbs from Hans table. Please CWA help me!
Retired Bargained for employees pay under $80 monthly for family medical and dental until Medicaid eligible. $90 annually for family vision.
ogx here.
Forgot to mention that I had to go to Benefits Connection to look at plans and prices.
@sgq
All I received was a letter advising me at my VZ paid COBRA was up and I would now get billed for COBRA coverage. I was advised if I did not wish to pay for COBRA to contact VZ Benefits Center so I did not get billed for the coverage. Letter also explained about what happens if you continue COBRA coverage beyond the scheduled end date of your VZ coverage. Also explained how to enroll into their pre Medicare plans such as VZ Retiree Access Only and where to go to get plan details and prices. No prices were shown on the letter. For me VZ Access ran a little under $1100 @ month. That is for single coverage with Basic Dental
Also 12/28 but have 60 weeks coverage. Am curious if VZ sent you info. on the retiree coverage cost. I haven’t seen anything yet. I’m thinking it would be cheaper to go to the Obama care marketplace for me.
Depends on years of service. I am a 12/28 er and I got 55 weeks so in my situation my VZ paid insurance runs out Jan 31st.
I thought COBRA went through the end of February in your situation.