Thread regarding Chevron Corp. layoffs

@4pue, for your information, the chevron 100% contribution for post-65 retirees is only $96 for next year (2017). I'm not sure how much it is for pre-65 retirees, but it's a mute point to inquire, because the premiums are in the clouds. You only will profit from waiting until you are 65 years old before hopping over to the Chevron Medical Plan. Only then is it affordable.

Some posters are spot on, some are missing the boat. If it's about affording healthcare insurance for the rest of your life the lump sum helps you control reportable income, the annuity put you behind the IRS 8 ball right out of the gate, Listen, you're thinking wrong, thinking small. Start a business, any kind of business that you can return at least 10% to 20%, which is chump change in the world of business. You could do this selling paper towels, you can do this owning rental unit vacation condos. You put it all under an LLC or two or three, using your cash so you are not indebted to anyone. You decide how much you pay yourself so you are going to keep it under the amount need to get maximum credits if it's an insurance issue, but what you are going to almost certainly find is that you won't need it. You can pick up insurance and your company will pay for it, your company will own your cars, trucks, tractors, boats, toys, vacation homes (condos) pay for a ton of your meals and tavel, pay for your cell phones and most of the other material things that generate "quality" in your life. It's all legit and terribly easy to keep legal. You make "too much" money, no sweat, re-invest it into your company, buy more condos, invest in rock solid Dividend Aristocrat stocks, grow your company and your wealth, improve your life quality. Your LLC can do it, why pay yourself an excess salary when your company can buy deductible and depreciable assets? Can you loose? You own the company outright, you own the building/s outright, you own your toys outright, you own your merchandise stock outright, even in a doomsday scenario with our economy you own everything you have, no bank or other creditor is lined up to come get what you got. This is not that difficult, the laws are favorable to do this and will be even if Hillary is elected. Paint your own picture, but don't paint one of doom and gloom and survival, paint one of progress and success and growth. You will succeed, never worry about how you are going to pay your healthcare insurance again, or how you will pay anything in fact, and will be fantastically successful at a minimum. You will probably even generate enough wealth to leave a substantial fortune to each of your brats and they may think about you once in a while. Don't "ration" your Chevron dollars, which is what most financial investors tell you to do, hoping you don't outlive your money, "seed" it, use it to grow great things. Chevron was a great ride in my life that will continue to pay dividends to me and mines for generations after I'm dust. If you need more info give me a call, HA!

As the op thanks for the relevant responses ! Regarding AHCA vs CVX retiree healthcare I am going to take the chevron plan. I'm 55 so could well benefit from Obamacare but after checking it out I see huge deductibles (excess) with high premiums if you make any decent money in the year (divs/bonus prorate etc). With the changes in retiree pension timing options it's necessary to get the timing right or risk losing your 100% retiree subsidy. If be happier flipping burgers solely for CVX benefit Han resting on my laurels and having a low premium but 20 grand deductible. And when Obamacare disappears, who knows what... I'm thinking a secure long term rather than penny pinching the short term.

You chumps have the atttention span of a flea. This topic is the Bridges Program. Numb nuts. Stay on topic if your flea brain will allow you to

That's what you get for retiring without a plan or consulting with a financial advisor and tax specialist. Many of these retirement seminars covered these basics.

@3atl - Your mistake was taking the annuity, which prevents you from controlling your income stream. If you had taken the lump sum you would be able to plan your income to take advantage of controlling your tax rates and ACA subsidies. Of course, you wouldn't have the guaranteed income stream, but that's the tradeoff you made. Too late to complain now.

3msv, everything you said is correct. The wealthy with lots of bank savings can game the Obamacare system to reap the highest subsidies possible. I'm one such person who is doing this. I am only 59 and my spouse and I take advantage of the flawed system and pay only $82/month for excellent medical and prescription drug coverage. I only take a small $28500 annual distribution from my retirement savings to get about $958 in ACA subsidies. The rest of money we live on comes from savings. The whole thing is messed up. But don't blame people like me for taking advantage of it. Practically everyone would. Frankly, this system was set up like this on purpose. It was meant to fail and for it to be replaced by a single-payer system. In the end, even people like me will be screwed. I only hope to hang in there until I'm 65 then switch to the Chevron Medicare Advantage medical plan, if even that is still around. It's a crazy world.

Grow up, 3yay. Who brain washed you? Go ahead and so-called FIRE at 30 something. We'll hear soon enough through the grapevine that you are filing for welfare and food stamps in your mid 40's. LOL.

3qqy, like popularity contests and fads alike, the trend goes where the crowd takes it. Apparently the Bridges Program is lame and the medical insurance topic is not. Instead of creating a new thread, why don't you move on to read elsewhere and quit being soooo anal. To 3rjk - the Obamacare medical insurance seems to be the only viable route if you're not 65 or older because of the raping high cost of conventional medical insurance. The trick with Obamacare is you must have a low taxable annual income. If you go over $35,000 or so, you won't get a subsidy to bring the cost down. If you go under $14,000 or so, you don't qualify. You either need to stay within the income parameters or game the system by combining taxable income with funds you've already paid taxes on (like bank savings).

Is this a Bridges thread or a medical insurance thread? Come on bozos, stay on topic or start your own new subject. Gee.....

That's weird about the medical coverage cuz most everyone I know went with Obamacare as the best option and best price by far. Makes your u wonder what they would do without it. Most plans are over $1000/mo if you are over 50.

To 2ozi - At 49 and with your spouse still working to help out with the medical coverage is not a good time for you to retire, IMO. Retirement is for both of you to enjoy together. I think you're a bit too young and should go back to work anywhere. Save your money then retire together. Just saying.

Damn right. But no matter who wins in November, medical will stay expensive if you want something that works. It seems to me that Obamacare was intended to implode by itself to make way for single-payer insurance (aka, the government). It's what Obama and every socialist commie wanted all along. Look north to Canada and east to Europe. It's coming to America. BTW, happy retirement.

I am on my spouses insurance for now until he/she decides to retire. Then it's probably retiree insurance. Obamadon'tcare is dicey, expensive if you declare much income at all, and getting more expensive and covering less every year. Might as well just bite the bullet and pay for the retiree plan, it's better and about the same cost when you include pension income against the subsidy. I'd rather not get dumped into the pool of yahoos who can't pay so they get the cheapest available and the program is less and less fundable because there are not enough healthy premium paying people in it. That's why the costs keep going up and Insurance companies are leaving the Exchanges. The options for doctors in the plan and prescriptions get worse also. I like my doctor and want to keep my doctor. So, because of that I can't go with the ACA. Quite ironic isn't it? No, Just dishonesty and lies. Very simple. Someone lied to America. Right in our faces. And there's a person supporting him and promising to continue his policies on the ballot. Choose wisely.

Sounds good, 2ozi. What are you doing for medical insurance?

Good for you, 2xfl. I retired recently too. I was laid off a few years before my desired time, yet I'm a few years too old for the hiring market. I thought about going to work contract, but am having a great time doing my own thing and enjoying retirement at 59. I have the means to quit work and enjoy life comfortably. I'll see in a year if I feel the desire to work contract or to remain retired and playing golf.

I'm recently retired and don't have time to go back to work. Too busy enjoying life. Luckily I have outside interests and hobbies and dont need to live in the past

I knew a guy who did it to fund his vacations. He would do a week or two of Bridges work in some nice location, like Bangkok or Perth, at $1000/day plus hotel and air, and take his wife along. Nice gig.

I know quite a few people who have come back contract after taking the package. Sweet Deal.. I have over 36 years with Chevron, and I consider myself young, just so you know. And simply not coming back to CVX doesn't mean that you burned bridges like an idiot and threw all of your references and chances for any hope of future employment into the fireplace - LOL! And the rumors of no references is bunk. You know better than that. Recruiters have ways of getting the dirt. Get real.

After 27 years, I haven't heard of anyone I remotely knew at Chevron coming back after retirement, voluntary or otherwise. It's a rarity. I'd say there is 1 person in the Bridges Program for every 100 in the Burned Bridges Prigram.

Well, then that's definitely a reason to not burn bridges. In any event, I would never recommend burning bridges. You have to be an idiot and have no respect for others, authority, or who's paying your paycheck, to do that. Of course, we have run into our share of idiots at this company.....

Depends on if you have a needed skill set, and just as importantly if you have a managers who needs or wants those skills. Bridges is a win win for Chevron and the EE when a match is made. I will say this though, if you burnt "bridges" at Chevron your chances of coming back are somewhere around zero.