I'm looking at comments with the terms of the supposed management retirement offer coming out this coming week and it says they will keep Cobra for a year. I had no idea that retired mgmt does not keep medical coverage. Is this correct? Wouldn't this keep a ton of people from taking this package if they're 50 something years old and will need to come up with their own (and family) medical coverage until Medicare age? Damn!
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My understanding is that the retiree v. Active employee plans are different and they have a different risk level and, of course, a different price. That said, a 50% employer contribution might not seem like enough, compared with the overall cost of retiree medical coverage.
Retired wireless here....No Medical or Dental after 25 years of service and just reduced the phone plan in half to 25 percent. No pension either. Oh, in case you are wondering....1960. a month for pre medicare medical and dental, no vision, no life insurance. Enjoy your loyalty to them.
The company will pay a percentage depending on your years of service but it is still very pricey.