Thread regarding AT&T layoffs

Health care advantage is a rip-off it won't pay squat if you have major health issues rx tier 4,5 are not covered. It's just the failed Obama care...

By guys that take home huge salaries - Do you mean the C-Suite crew? Unions absolutely brought this country from the Gilded Age and created the middle class. Since the mid 1980s unions have steadily lost memberships, salaries and benefits. So that is the reason now you see this widening gap between the haves and the havenots. C-Suite crew deserve their high salaries. They can't be bothered to live on those salaries of the havenots.

good grief, I guess I am out of touch with all the complainers I took a management buy-out in 1990 and have been treated very well by T. My friend took a pension at the same and has also had no complaints. My service date was 1964 and I have never been sorry

As craft took voluntary severance and got pre 65 subsidized insurance for 350/month also started in 1998. management is so taken advantage of I never could understand anyone wanting a management job that has worse pay and benefits than the people who work for them

At least you get some financial assistance. I started in 1998 and my retirement insurance is about $900 per month if I were to retire now.

@xxw, I was an AM at that time and the time frame was between 1990 & 1993 I believe. I probably refused 10 times to sign before my arm was twisted and threatened for my job. In my current financial position and looking back, I should have refused and suffered the consequences. I believe my bank account would increase millions more. And again, we were told that these life insurance policies would be used to provide for retiree benefits, i.e. Healthcare! Just like I was told that my LL phone would be free for life. I retired at corporate as a Division and lived out of SBC territory, then I moved to a state not served by SBC. When I moved back to T territory, I was told that "my concession" would be $20 mo. for LL served via VOIP. No circuit based LL. Twenty Bucks is chump change, but when your working for money and benefits and the company decides to re-neg, (Excellent, Free Healthcare for spouse & self for life - all the while buying deathstar businesses like Direct/TW and pay billions to TMUS for bum deals AnD paying Ranky & Stanky & Eddie Boy millions for poor leadership then..................)
They lie!

AT&T Group Medicare Advantage (PPO) plan insured by United Healthcare. Announced August 28, 2020. Beginning January 1, 2021.

OP - please post the retiree health plan that you're referencing. Or the announcement of said plan.

Why are you surprised that AT&T wants in on the Medicare Advantage scams. In the past, they wanted in on Medicare Part D because they could double-bill Medicare. They were squawking when that ended. With all these Medicare Advantage advertisements, there is clearly something cooked up with these insurers and the Congress. UHC will pay me money to have a free doctor's exam. They use the exam to cook up stuff to bill Medicare for. Corruption has taken off. Drain the swamp my ...

I am surprised they waited this long to screw with insurance. There isn't much more they can take.

@bgo, I was hired in the late '90's through SBC, as a manager, and I do not recall every being asked to sign a double life insurance policy. Were you Union?

If you retired from the new and improved SBC, "they don't care". You're used up and of no further benefit to the company. Quit whining, quit begging, grow up, get a life, you're lying etc. He11, I was called into the Division's office because I refused to sign a double life insurance policy in favor of SBC naming SBC beneficiary. They asked why I wouldn't sign and I told the jerk that I didn't trust SBC to not go out and hire Guido and have me shot so that they could reap the rewards. The executives claimed that this life insurance policy was going to pay my future retiree health care benefits. S.U.R.E. I kept refusing to sign until I was finally threatened, sign or else. That was about the same time that each manager was called in to sign a form where the company was re-offering us our same jobs. Do you want your job? Sign here. If you didn't sign, your off the payroll. So, at the new and improved "t" promises made DO NOT equal promises kept. When I was hired on, I was told that I had excellent, free healthcare for my spouse and I the rest of our lives. Just another reason I retired. I don't buy anything that "t" sells and don't believe anything "t" says.
Signed, A Screwed, Blued, Tattooed Retiree. And, I'm not whining - Just stating facts.

@ahx, so the retire now in 2020 so you can get the medicare subsidy song and dance, design to incentive those who are considering retiring to retire now..., if they are off payroll by or before 12/31/2020, they can still in 2021 get screwed by having to switch to the new plan, and loose the medicare subsidy anyway?

Where was this new plan posted? I haven't seen it yet.

My understanding is that a new plan (which appears to be of little benefit to retirees) will become available in 2021. The new plan will be an option in 2021 and you can remain on the existing plan if you want (which is what I intend to do). They are silent as to the status of the existing plan after 2021. My guess, and it is only a guess at this point, it that they will eliminate the existing plan after 2021 (even though they made a commitment to maintaining it until at least 2023.

If I understand the new plan details retirees pay the cost of the monthly premiums out of their own pocket and the $4,200 Medicare subsidy goes away. What I'm not sure about is whether this new plan impacts retirees currently not yet on Medicare or all retirees including those on Medicare and currently receiving the $4,200 subsidy.

Any thoughts or insights about this new plan would be much appreciated.

I'm not clear here, you're saying that while they said that if you retire in 2020, you get to have the subsidy out till 2023 and they may or may not sub it again after that. But, at this time time, they have made a new ore costlier HC retiree plan that starts up in 2021, that anyone retiring in 2020 has the option not to take, but may be forced to after 2023? And/or, anyone who is a retiree now, and whether or not having a subsidy, may have to take the more costlier plan? Do I understand correctly?

surprised they kept it at all. they don't care about the people who actually built the company.

You actually think T makes ANY change that is for the benefit of the retiree?

All decisions are to increase the available funds to enrich Ratty and Stinky.

That being said, remember back in the 90's when T stole the pension to pay for retiree health benefits out of the pension plan instead of operating budgets? Well now the pension is grossly underfunded and they probably cannot afford to pay for retiree health benefits and have to cut back benefits.

Good point about the possible six month buyout. Do you think that six months will remain the policy? It seems like the change from 60 days notice to two week notice of surplus means that buyout offers are not on the horizon.

Well, they have previously advised occupational retirees that the subsidy is available through 2023. This in-house plan is in lieu of the subsidy except the dental and vision component. But, right now I'm getting $0 Med advantage, so my HRA is accumulating money because it only pays Medicare part B premiums. And the plan includes dental and vision.
It sounds like AT&T's plan is suited for chronically ill people, but not necessarily healthy people. What I'm seeing is subsidy eligible people would be charged $0. But I don't have the details on any deductibles or maximum out-of-pockets. Can't crunch the math without the numbers.

Its mind blowing that these guys continue to take home huge salaries and bonuses that would easily cover the cost of some of these things we really need in retirement .