The chances of remaining employees at Williams if you are over 55 do not very promising considering the 2016 and the 2019 layoffs. If you get sick it is also unlikely that you have medical insurance, because you will no longer be employed. Keep that in mind please, as you plan for your future.
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It’s wrong.
That’s my point don’t ever depend on a company for anything anymore, have a million saved by 55 because if you or your wife ha e any type of medical issue very common you could get wiped out very easily. You might not be able to work because your not healthy and you might have to take care of yourself. Don’t thjbk companies like Williams should be forcing people out of work after 55, bad policy imo
Obama Care is a joke unless you make under 48 k a year. It is subsidized if you make under that amount. If , with dividends, interests,other income, you make more than 48 k a year, then you will pay about 9k/year/person on premiums (for the cheapest plan) and 7500/person for deductible. There are other non compliant health care plans out there that are far cheaper and are available without penalty , for now.
The assumption that the other spouse will have insurance seems is a stretch. They might, but after 55 it is also more difficult for spouses to find or retain employment. Insurance under Cobra for a family is thousands a month. The 55 age limit is also a problem given modern demographics, when people have children later in life. People are resoures to be used for profit at publicly traded companies. That's capitalism, or at least the American version.
Here are the facts
https://www.cnbc.com/amp/2019/02/11/this-is-the-real-reason-most-americans-file-for-bankruptcy.html
You painted a much prettier picture than what happens to many when they lose their job after 55. Most employers will not hire someone full time after 55 due to insurance costs and if they do the insurance might not be any good. Cobra is only provided by employers because they are forced to by law and Obama care is under assault in the courts and may not a available depending on the Supreme Court ruling. Even if Obama care is available it costs up to 40k per year for a couple of two with premiums deductions and maxium. A lot of people cannot affort that especially when they are sick because they cannot work and any type of savings will be drained. Medical problems are the major reason for bankruptcy.. In my opinion Williams should not be forcing people to retire after 55, tge medical issue is one of many reasons. They are doing it to save money but I question whether that is really true due to all of the expertise and experience they loss which can be very costly in mistakes and screw ups.
I’m not sure what this commenter means. A severed employee at least gets COBRA coverage for up to 18 months (paid for by the employee, but it is still insurance) while the Affordable Care Act is (for now) still an option. In many cases, a spouse works somewhere that has insurance and can add the other spouse to their insurance. Insurance costs are certainly a consideration for employees who may be considering the early retirement package.