Retire before age 55 to be eligible for insurance

burrheadd

KING Of GIFS
Sorry prescription marijuana is not covered by Medicare
Not yet
IMG_1962.jpeg
 

Well-Known Member

Back From Break
I herd this also but want verification if that one chance is when submitting for retirement like the Joint and Surviving spouse option that must be selected at retirement and cannot be changed. I didn't see the insurance part on the retirement benefits form.

Teamcare​

Postpone Your Eligibility​


You and/or your spouse may elect, on a one-time basis, to postpone your Retiree Health Plan coverage to a later date, provided you have other health insurance coverage.

To postpone coverage at retirement or to suspend your current Retiree Health Plan coverage:
  • Complete a Retiree Health Plan Postponement Form found in Forms & Documents, and return it to TeamCare.
  • Provide proof of other health insurance coverage, such as a letter of HIPAA Certification of Continuous Coverage, or a copy of your 1095-B.
Once approved, we will postpone you and/or your spouse’s coverage and monthly contribution payment as appropriate. All coverage will cease at the end of the month in which the postponement form is approved. Your coverage and monthly premium payment will remain suspended until you request to begin coverage again.


End of Member Coverage​


Your Retiree Health Plan coverage ends on one of the following, whichever is earliest:
  • The date you first became eligible for Medicare, even if you do not enroll in Medicare Part B.
  • The first of the month during which you stop paying your monthly premium.
  • The date you become covered by another TeamCare plan because you returned to work.
  • The date you lose Retiree Health Plan eligibility because of a voluntary withdrawal by your former employer. A voluntary withdrawal occurs whenever an employer opts to no longer contribute to a TeamCare plan which includes retiree coverage.

 

UPSmechanicinblue

Well-Known Member

Teamcare​

Postpone Your Eligibility​


You and/or your spouse may elect, on a one-time basis, to postpone your Retiree Health Plan coverage to a later date, provided you have other health insurance coverage.

To postpone coverage at retirement or to suspend your current Retiree Health Plan coverage:
  • Complete a Retiree Health Plan Postponement Form found in Forms & Documents, and return it to TeamCare.
  • Provide proof of other health insurance coverage, such as a letter of HIPAA Certification of Continuous Coverage, or a copy of your 1095-B.
Once approved, we will postpone you and/or your spouse’s coverage and monthly contribution payment as appropriate. All coverage will cease at the end of the month in which the postponement form is approved. Your coverage and monthly premium payment will remain suspended until you request to begin coverage again.


End of Member Coverage​


Your Retiree Health Plan coverage ends on one of the following, whichever is earliest:
  • The date you first became eligible for Medicare, even if you do not enroll in Medicare Part B.
  • The first of the month during which you stop paying your monthly premium.
  • The date you become covered by another TeamCare plan because you returned to work.
  • The date you lose Retiree Health Plan eligibility because of a voluntary withdrawal by your former employer. A voluntary withdrawal occurs whenever an employer opts to no longer contribute to a TeamCare plan which includes retiree coverage.

What I need now then is do we have to me 55 to qualify for the insurance so we can postpone it? This maybe not an option to postpone it until 55 if I am not qualified for retiring before the required age. Hope this makes sense I would like to find another that already retired under the same issue I am trying to figure out
 

rod

Retired 23 years
If you are under Teamcare, don't forget the retiree coverage will only pay up to $350,000 per year/per person. If you or your spouse ends up with cancer, this will not go far.
My triple by-pass is up to a little over $300,000 now and the statements keep coming in. My responsibility so far has been like three bucks. I go to cardio therapy twice a week now and the VA is billed $340 bucks a session (1 hour). I'm scheduled for 36 sessions. That's over 12 k just for therapy.
 

Old Man Jingles

Rat out of a cage
My triple by-pass is up to a little over $300,000 now and the statements keep coming in. My responsibility so far has been like three bucks. I go to cardio therapy twice a week now and the VA is billed $340 bucks a session (1 hour). I'm scheduled for 36 sessions. That's over 12 k just for therapy.
Hope everything is good for ya Dude!
 

Well-Known Member

Back From Break
What I need now then is do we have to me 55 to qualify for the insurance so we can postpone it? This maybe not an option to postpone it until 55 if I am not qualified for retiring before the required age. Hope this makes sense I would like to find another that already retired under the same issue I am trying to figure out

Under Teamcare, you are not eligible for retiree benefits unless you are 55 and have the required years of service. If you retire before age 55, and have the years of service, you become eligible for Teamcare retiree insurance once you reach age 55. You then can make the choice to accept the retiree insurance or delay it, on a one time only basis.

 

UPSmechanicinblue

Well-Known Member
Under Teamcare, you are not eligible for retiree benefits unless you are 55 and have the required years of service. If you retire before age 55, and have the years of service, you become eligible for Teamcare retiree insurance once you reach age 55. You then can make the choice to accept the retiree insurance or delay it, on a one time only basis.

Thank you sir!!!!
 
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