Life only Pension?

[oldngray]

You will be eligible for Medicare at 65, so you will only need supplement for dental, vision. My wife went for the Medicare B, it has better prescription coverages, particularly if you have a major health issue. She pays about 130 a month even if she is still under my team care plan, just to be safe..she was a nurse for 35 years and some of it had to do with insurance certification, so she knows things...

I heard Medicare is pretty good. Maybe even better than Teamcare. Except for prescriptions.

 

[Shiftless]

Under my WCT retirement plan, I have my health insurance under the UPS Aetna plan (just like any driver in the region). Months prior to reaching medicare requirements they send you a letter informing you that you should sign up for part "B". At the point when you reach 65 they will only come in and pay after part "B' pays its amount.

 

[Shiftless]

Important to remember that Medicare has a window to sign up. 3 months before your Birthday month, your birthday month and three months after your Birthday month. IF? You don't sign up apparently they fine you 10% for twice the amount of time you were not enrolled.

 

[Wally]

Our local keeps you covered after retirement. Once you hit Medicare it becomes your supplemental. Full dental and vision too.

 

[oldngray]

Important to remember that Medicare has a window to sign up. 3 months before your Birthday month, your birthday month and three months after your Birthday month. IF? You don't sign up apparently they fine you 10% for twice the amount of time you were not enrolled.

That is what sucks. Narrow window to decide and you get stuck if you choose wrongly

 

[DELACROIX]

Our local keeps you covered after retirement. Once you hit Medicare it becomes your supplemental. Full dental and vision too.

With the amount of money going into the (Team Care) plan, you would think that they could provide the same supplemental coverages when we become eligible for Medicare or turn 65.

 

[Wally]

That is what sucks. Narrow window to decide and you get stuck if you choose wrongly

Start a thread on the subject. Endless financial and bureaucratic expertise here among our brethren of cardboard slingers.

 

[Jones]

Our local also lets you keep dental and vision after you go on medicare, there's a premium but it's pretty low less than $100/month for both I think.

 

[BrownFlush]

How many years?

20

 

[BrownFlush]

Good info....except the $50k you give up every year you are retired.....($52,000x10=$520k......age 52 to age 62...)(52 to 67.....$770k)

Lot of money....and free healthcare...

Imagine investing $770k or just have it sitting there

Good info....except you're working

Lot of healthy free time.

Imagine not letting money (that's just sitting there) be the deciding factor about your every decision.

Free at last..free at last... Thank God Almighty, I'm free at last.

 

[What'dyabringmetoday???]

The pension reform bill is going to keep it from going under

Lol.

 

[IVE GOTTA PACKAGE 4U]

Lol.

Pension Crisis | Central States Pension Fund

Like many of the nation’s multiemployer pension funds, Central States Pension Fund has become severely underfunded due to a combination of factors.

mycentralstatespension.org

 

[What'dyabringmetoday???]

Pension Crisis | Central States Pension Fund

Like many of the nation’s multiemployer pension funds, Central States Pension Fund has become severely underfunded due to a combination of factors.

mycentralstatespension.org

So how much money will the fund receive? How long before it is gone? (These are rhetorical questions.)

 

[IVE GOTTA PACKAGE 4U]

So how much money will the fund receive? How long before it is gone? (These are rhetorical questions.)

It's supposed to be guaranteed for 30 years

 

[BrownFlush]

I think you mean part "D" for prescriptions not B correct?

Does "D" include a prescription plan? I was under the impression it did not. My wife is on Medicare and I took the the supplemental offered by the local and have a separate prescription deal @ $25 a month.

 

[rod]

I retired at 62 last October and my pension amount is $4808, I took the full amount. I have lived off just that so far. I could file for Social Security but I'm undecided about that. Wait and get more or take less now and invest. I haven't touched any investments, they are still growing. My concerns are inflation and I will have to start buying health insurance in two years.

Are you talking about buying Medicare supplemental insurance? Those are pretty cheap. For a couple hundred a month you can get a good one. Its deducted out of your SS anyway so you barely miss it.

 

[Shiftless]

Here is "B"

What Part B covers

www.medicare.gov

Here is "D"

What Medicare Part D drug plans cover

Overview of what Medicare drug plans cover. Learn about formularies, tiers of coverage, name brand and generic drug coverage. Official Medicare site.

www.medicare.gov

 

[rod]

Does "D" include a prescription plan? I was under the impression it did not. My wife is on Medicare and I took the the supplemental offered by the local and have a separate prescription deal @ $25 a month.

Part D IS the prescription plan

 

[BrownFlush]

Part D IS the prescription plan

I'd forgot...da...Part timers here I cone

 

[oldngray]

Part D IS the prescription plan

is it better to go with a Medicare Advantage plan or stick with government Medicare?