It makes you wonder how many union employees Verizon could entice to leave if they guaranteed Medical for life at existing cost and coverage. They've done it before!
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hearing the company is preparing another package for associates,probaly something similar to last years,no idea if true but there is talk ....
OP, IMO, the incentive That would garner widespread attention currently is no cost medical guaranteed, rather than “existing cost”, and a considerable EISP.
It's your opinion. Fact is there were no changes to the contract. You are entitled to your opinion.
I understood your question. I was asking if it was their opinion to the poster prior to mine.
Thanks.
@OP+14RGmhjP – Is that your opinion?
My understanding, and could definitely be wrong, was that the in NY, the 30 years didn't mean much anymore. In times past, people hung on for the full 30 because it meant medical coverage in retirement at no cost. However, here, a couple of contracts ago, employees started cost sharing, and those retiring also had to pay, even if past the 30 year mark. I also think that the costs and coverage are at the whim of the latest contract settlement, adding further uncertainty.
If I am wrong, my apologies, as it was not intentional. also, if I am wrong, would somebody who's up to speed on this chime in. thank you.
I was of the understanding that 30yr retirees get medical coverage for life but, when you become eligible for Medicare, vz insurance becomes your secondary insurance and Medicare becomes your primary.
Last poster in pa is totally wrong.
Yes you still need to reach the 75 magic number. So if your 50 years old with 25years. You would get 400.00 x 25 and you can use that to buy your health insurance till your 65
I’m in PA
To last poster....what state are you in? I thought you had to have 3o yrs or make the “75” and be officially retirement eligible to get any medical....I’m 50 with 20yrs but I would consider leaving if I got that credit....
Retire medical benefits allow union members to buy there health benefits at a discount t until they are Medicare eligible. It depends on your years in the union. You get a credit equivalent to 400.00 per year of service. Typical policy cost about 7k a year. So if you got 20 years you should be covered.
"They'll even freeze me so they can cure me later if they don't have a cure now." - @kub+14RGmhjP
Can they freeze me until they have a cure for Hypothermia? Frostbite?
@lki+14RGmhjP for life? or until midicare?
I remember the old days when, after 30 years, the guarantee of no cost coverage in retirement was in place.
In the run-up to the 2008 presidential election year, some unions asked members to support Barack Obama because he was for a European-style health system, their logic being that, if the employers of America were unburdened from medical coverage costs for their employees, juicy raises could be negotiated going forward.
On another note, I seem to remember that a number of years back a non-telco union negotiated a "frozen" retirement clause (until 2034 I believe), guaranteeing retirees and current members benefits and granting peace of mind into the foreseeable future. Medicare would come into play too as people aged into it.
It's a mic (microphone)
@lki+14RGmhjP Not sure where you are from but here in pa local 13000 medical is only good till end of contract for retirees.
Yes union members who are eligible to retire now get medical with their pension or lump sum from Verizon for life.
Not going to happen. Due to Covid19 medical costs are/will soar. Employees for many companies will see huge contribution and deductible increases next year.