Thread regarding AT&T layoffs

I thought MTP was a total ripoff. Luckily I'm covered on my wife's policy so I passed on the 25K reduction in Sev Pay. As already stated get with benefits and discuss with them as they will tell you everything you need to know in order to make a well informed decision.

If MTP eligible, the key is to confirm whether you (based on when, what org etc..) will receive subsidized benefits. I do thankfully, so I feel it is worth it to move forward with the MTP based on the numbers. However, had that not been the case, I would not have elected to leverage the MTP considering only the product discounts would be given.

@uhq

I got the 0 cost blue cross plan as well, although I have other converse from current employer.

I’m not sure what the deductible is, probably something ridiculously high like $20,000. And is good only for self, not dependents.

I’m concerned if this is a taxable vlbenefit though.

Also, life insurance is not bad, although it will diminish in value as you age, it is something.

Medical plan coverage costs with MTP will depend on if you are truly eligible for subsidized medical benefits or if you are considered ACCESS ONLY. Be sure to ask that question too.

If you have access only, I don’t see much benefit to taking the MTP.

@elm what is your yearly deductible in order to pay $0 monthly medical premiums ? That is a lot to risk, but as long as you are in good health and putting aside $$$ for any unexpected medical expenses/rainy day fund, you should be in good shape. Wish everyone the best.

On more point to make, once you turn 65, the company will require you to transition to Medicare with I believe the option to use the company benefit as a supplemental plan only.

To put things in perspective, I took retirement last year. I am currently drawing management retirement benefits and opted in the Bronze (UHC) for single coverage. Monthly Medical premium is Zero (0) $$$, for Medical. Total coverage with Dental and vision runs less than $10 a month. That may change for open enrollment next year. UHC and BCBS May be in a bidding war. I have never seen a 0-dollar medical premium until this year. Keep in mind this is a high deductible plan and for single coverage. The open market exchange will be your most expensive option. COBRA benefits are only good for 18 months, correct? I would choose the MTP option and have something to show for retirement benefits. The loss of severance is short term and you will earn it back with a new salary. You give up about 15% of you salary (3 months salary minus Taxes is about 15%).

@lxg. You need to call benefits and get the facts for yourself. There is a HUGE difference between the monthly costs of occupational retiree medical costs vs. manager monthly retiree medical costs. Even with meeting the MR75. For manager retirees, that are on the “family plan” (depending on which plan) Silver/Gold the monthly cost alone for medical is $1000-$1687.—— Which is no where close to what we pay today as an active employee.——- You really need to get the facts directly from benefits, they will tell you the shocking truth !!!! Now if you are talking about covering 1 individual or individual +1, of course the rates there are going to be much cheaper, but still not what you are paying today (as an active employee) . Once again, much cheaper than the “family plan” of $1000/$1687 a month for manager retiree family plan medical coverage.

Been advising on here multiple times..don't assume anything...make the call to benefits.

You may want to also consider other medical options. Gold and Silver for retiree's went up a good 25% this year. Went to Bronze to save $100/mo with same out of pocket of the other plans. Of course alot depends on how many people you still have on your insurance. However, look on the open market for health insurance and see if you can buy any better. I would doubt it. At the time you reach the MR75, your cost will go down significantly. Just being able to claim retiree benefits when you become qualified might be a plus.

Those rates are in-line with averages, especially considering you are the one paying everything. Welcome to the American healthcare system that most people know. If you haven't seen the open market costs in the past 20 years, it's going to be some serious sticker shock (Going up $100 per month! on avg). The older you get, the worst it gets as well. It's very unfortunate, and as others have mentioned, basically impossible to cover if you don't have a job (and some would argue a very well paying job). If you are a part-timer with no health coverage, and are 50+ at say McDonalds, Home Depot, WalMart, I really feel for you. Basically, our society is forcing people to work themselves into the grave, all because Insurance/Medical companies want to make a gazillion dollars, and the "rich" investors are perfectly fine with that. I could go on and on about all the BS surrounding this industry. I'm not against making some money, but it's gotten out of hand. I'm no socialist, but at some point, when our medical costs more than 50% of our income, something has to change.

https://www.ehealthinsurance.com/resources/affordable-care-act/much-health-insurance-cost-without-subsidy

https://www.beckershospitalreview.com/finance/28k-the-average-price-healthcare-will-cost-a-family-of-4-in-2018.html

There must be a dependacy on year started and company. I started a few years earlier then you ststed and am currently eligible for MTP and rates for insurance are similar to what a current employee pays.

How old are you and did you start with AT&T Legacy?

Only, “possibly” for the medical coverage. However, if you are on the “family plan” Gold or Silver (middle tier plan, I think) who, can actually afford that retiree coverage anyway ? Especially, if you are laid off/don’t have any money to pay for it. Those rates are outrageous !!!! $1000- $1687 a month, just for medical alone !!! That doesn’t even include whatever the associated deductible is !! You can’t even see past the monthly cost, to even inquire what the crazy deductible probably is. Those rates for the “family plan” retirees are astronomical!!! I have no idea who can afford those ??? Definitely not someone that just lost their job !!!! Wishing you and everyone the best.