Guitarpicker
Member
Medical benefits would be whatever you are qualified for under the retirement plan - which are as follows - triple credit for any years of service up until 1993 - single credit for any years after - up to a max of 30 years - each credit is equal to $250 to be applied to your annual healthcare benefit cost - which is currently close to $10,900 per year - you and any eligible spouse would each get that credit amount. If your credits dont equal the cost - you pay the difference. There is also a lower cost plan close to $9100 per year - but it has a higher annual out of pocket. One thing to note on that plan choice - you can place funds in a HSA and after building a balance of $2000 - you can invest much like a 401-k ... The funds go in and come out tax free - so some great benefit there. You would need about 44 DBE's or credits to not have to pay for some of your annual medical plan cost. so as stated above - say a person started in 1986 - they would have 7 years at triple credit ( 21 credits) and then 23 years of single credit for a total of 44 credits.. or $11088 to apply towards plan cost.. the plan cost have been fairly stable over the past 5 years - going up only several hundred in that time frame. Using that same example - Once eligible for Medicare - you will get about $2100 to apply for gap coverage - or some call it part a, b or c... your spouse - if still under 65 - would stay on UPS plan until Medicare - and then they would get the same. Hope that helps - most of this is on the UPSers... just buried in the fine print. Alot of this was also covered in the Retirement seminar UPS used to host each year - seems they stopped a few years back or at least I have not heard of one in recent.
