2022 HUGE health benefits increase

[Brownslave688]

Conflict of interest?
What would the NLRB say?

Curiously helping.

Yeah he’s gone now but I told him a number of times to push the issue. It wasn’t right.

 

[ManInBrown]

How in the world are my monthly 2022 health benefits going up 29% this year alone. Since I retired 6 years ago my monthly costs have tripled even after I opted for a lesser plan. There is no way UPS's costs are going up this much....

Someone’s gotta pay the health insurance for all those unemployed lazy people sitting home watching Maury all day. You can thank ObamaCare.

 

[gamecock65]

How in the world are my monthly 2022 health benefits going up 29% this year alone. Since I retired 6 years ago my monthly costs have tripled even after I opted for a lesser plan. There is no way UPS's costs are going up this much....

 

[beentheredonethat]

I know they increased the UPS Retirement Plan benefits at the end of 1992, how did those years prior effect the retirees’ Health and Welfare plan?

I presume that management retirees are booted out of their health coverages when they turn 65, are there any carry over for supplemental insurance after age 65?

I'm in management, so this is the info for non union retiree health care. They give 3 credits per year for every year worked prior to and including 1992, and only 1 credit per year after that year. They will only count 35 total years worked. I have 5 years for 1992 and prior which gives me 15 credits, and I will have an additional 30 years from 1993 until I retire. So I will have 40 total credits. UPS will pay up to $250 per credit, so I will have $10K for medical costs and an additional 10K for my wife. I will have to pay for any cost exceeding 20K total for my wife and I once i retire. Once I hit 65 for Medicare, the credit value goes down to $42 per credit, so I will only have $1680 per year for myself and an additional $1680 for my spouse when she is eligible for Medicare.

 

[DELACROIX]

I am presuming that the annual payment of 20K when you retired was to purchase you and your spouse’s own private healthcare policy.

 

[Brownwifey]

I am presuming that the annual payment of 20K when you retired was to purchase you and your spouse’s own private healthcare policy.

Yes, $10k each for private healthcare policy. I would add the maximum healthcare benefit is $13,500 per person (retiree/spouse) prior to medicare, and $2268 @ 65/medicare. So for those old farts from the early eighties with more years of service prior to 1992, you will max out!

 

[CHEMA-DELMA]

Every management retiree gets a set dollar amount for health care, based on how many years with UPS, and also how many were before 1992 (approximately) While I'm not retired yet and don't know exact numbers, I'll use some general numbers to show how costs are changing vs how they impact you.

UPS allowance to you = $10,000 per year.
1st year you retired healthcare cost $10,500
Your net cost year 1 after UPS allowance = $500
Year 2 same UPS allowance of $10,000
Year 2 healthcare cost = $11,000
Your net cost after UPS allowance = $1000
Now you look at the cost and say the cost doubled, which your cost did double from $500 to $1000. However, overall health care cost increased $500 from $10,500 to $11,000 a 4.77% increase.

What you show is correct however it does not include what you pay monthly to the insurance carrier that you pick. Don't assume that the above covers your medical, that is the amount UPS contributes to your retirement health plan from your years of service. My cost to my insurance carrier increased 29% from 2021 2022.