How does the medical insurance work at retirement. Does Ford give you money to purchase health insurance. And does it cut off at 65 when you get medicare
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Don’t trust NESC. You will get screwed. You can talk with three different people over there and you will get three different answers. If you have a network of retirees they are the best sours of information. Don’t trust NESC.
OP: Best to ask someone who recently retired. The benefits are different depending on the date of hire.
@1wyp - Keep in mind, those folks used to be able to get health insurance from Ford (just like the retired UAW), but in 2022 Ford changed the retired salaried converge and now you only get $500 while the cost keeps going up.
So much for "treating everyone like a family" and being fair to all employees.
@1jwl Yes, but only if you were hired before 1/2001 and RETIRE from Ford.
So you will get $500 per month, your spouse get $500 per month, your child get $283 per month until you turn 65?
Your HRA depends upon when you started at Ford. If your start date was prior to 2001, you will get $500/month for individual plans up to age 65.
If you started 2001 or later you will get $800/year of service provided you are age 55 and have a minimum of 10 years. For example, if you started on/after 1/1/2001, and you had 20 years of service upon separation you will get $16K plus a bit of interest. When it's gone, it's gone. The only good thing is that it is a lump sum so Ford can't change it's mind and gank it.
I've found that I can get a better healthcare deal on my State exchange vs taking my allowance from Ford and going thru VIA benefits.
Pre-medicare you will get $500 per month for yourself, $500'for spouse and $283 per eligible kid to use towards the purchase of a plan. Was looking at rates for myself and spouse- was going to cost me upward of $1k a month over what Ford gave me. The real kicker is the deductible. It is $7500 PER PERSON. My current deductible is $7500 for our family.
@1coi+1pDa1hfT - LOL... tell that to the UAW people.
These companies today shouldn't be responsible for health insurance or retirement or pensions at all.
No handouts!!
Go to healthcare.gov and there are 3x plans to choose from.
It's mainly based on hour income, so if made made lots of $ in 2023, you may pay a hefty premium, but way lower than what they offer you in unemployment.
Now if you didn't make much in 2023, you are in luck in terms of healthcare with healthcare.gov.
You can choose you provider like blue cross/blue shield or whomever. And there are three plans: bronze, silver; gold.
Is there any difference for salary or hourly?
I thought you only get $500 per month for 18 months.
They gave me $500 a month until I turned 65. Then it dropped to 1800 per year on a reimbursement deal that I have to apply for every year. I burn through that 1800 in @ 6, 7 months. After that, I'm on my own for the rest of the year. You will learn this from VIA benefits after about a dozen calls to them. VIA is weak, but they are better than the NESC.