Any VSP folks considering ACA healthcare coverage instead of Verizon ? If you can find a way to keep your MAGI under a certain threshold, it is much cheaper. I will be saving over $500 per month for vastly superior coverage.
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I thought the retiree dental coverage was like a $3000 LIFETIME max anyway.
Another interesting tidbit. If you decline retiree medical at their inflated price, they will not let you sign up for the retiree dental coverage. Way to go Verizon ! You really take care of the people that built the business and were here before divestiture and then Bell Atlantic and finally Verizon. I will say it did not occur on Hans' watch. He could choose to fix it however. I think we need to start a social media blitz and vote our shares accordingly.
Hopefully you verified you local health care providers are in Network with the Obamacare plan you selected. If so, you indeed got a great deal. In my situation, my local providers would not take the only insurance provider that the exchange offered up in my area. For care I would have to visit a state University operated hospital/clinic system over 200 miles away.
I paid $600 a month in vz premiums for 25 years and they wanted like $2k a month for cobra. Under Obamacare I’m paying $150 a month for medical and dental and the plan is just as good. By the way vote straight democrat in November. The ACA is the only thing good this government has ever done for most people and the republicans want to take it from us, along with the social security and Medicare we paid for.
I agree that management retirees post MCI/GTE/Bell Atlantic merger got the short shaft. Up til then you could retire at 55 (on the BA side) with full pension and paid medical if you had 30 years of service.
Then they froze the pension and k–led the medical, grandfathering in pitiful subsidies based on service at the time. Of course back then, people could also make it to retirement age without being laid off or outsourced. According to some recent studies, 28% of long term workers over 50 are forced out of at least one job before they decide to retire. As that number climbs, affordable health care for this group is going to be hard to find. At some point the govt may need to expand Medicare with an "opt-in" for this age group, especially the 55-65 group, if it's impossible to find another job because of age discrimination.
Took VSP end of 2018 and retired. COBRA runs out end of this month. Have called VZ benefits 12 times since mid-January and have spoken with 10 different reps who gave me as many different answers. I am eligible for a subsidized GTE legacy health insurance (according to a 2009 email from an HR VP) but VZ benefits says they can't find that in my records. I think VZ is just trying to wear me down and run out the clock so I'll go to the "open market" for my coverage. After all, they don't want to be in the insurance business. After 42-1/2 years of service, what a pathetic way for them to treat a retiree.
I'm VSP end of 2018 (non union) and legacy Contel/GTE health plan. I've been trying to get answers to my health plan questions from VZ Benefits since mid-January (COBRA runs out end of this month). As of today I have called a dozen times, spoken with 10 different reps and received about that many different answers. I even supplied them with a 2009 email from Martha Delehanty stating I have a legacy health plan. I think VZ is just trying to wear me down so I'll give up and buy insurance "on the open market". Let's face, they really have no desire to be in the insurance game. Retired after 42-1/2 years and it has sadly come to this.
The cheapest plan I can get through Verizon is over $10,000 per year. I will be paying $4605 annually. My new plan has no copay for primary care, and a $1000.00 deductible. Much better than the $2500 Indemnity from Verizon. Its sad that after over 35 years, that is all I am eligible for. Verizon is heartless if you are a management employee.
Although you may be able to save money, I question your statement about vastly superior coverage. I know of no one who doesn't complain about high deductibles and copays on ACA plans. Verizon's EPN plan has great coverage with low deductibles and copays, which is why it's more expensive.
I need to check that out ! Thanks !