Thread regarding AT&T layoffs

What is the likelihood AT&T will grandfather HRA after 2023 for employees who retired prior to 1/1/2021?

Never mind, after calling the benefits service center and rereading the 12-18-19 retirement update sent out by att benefits, it doesn’t affect medical coverage prior to qualifying to Medicare. False alarm for me. Though 20 years of the subsidy is $54k or 84k with a dependent, if it’s remains in effect through that time for what that’s worth.

Ok, I’m confused, I understand about the HRA going away, and it amounts to 2700 plus 1500 for dependent, used for Medicare b supplementals. But this seems to effect people like myself who are now rule of 75 eligible, and currently age 55, who may take early retirement, the pre Medicare company contribution for me and my dependent is approximately $1500 a month, which seems to be also going away. That’s 18k a year that seems to be going away which is quite a bit more than a measly 2500 a year. I’m 10 years out from Medicare, so the math makes leaving a no brainer if I’m losing the 18k a year after this year. Am I understanding that right? If you go on the company’s HROneStop, page, open benefits center, go to life changes at top of page, click on “prepare for retirement“, then “make your choices” then put in a date this year (1st of month) then accept , it shows you your portion of healthcare and what the company gives you per month. Click on the hyperlink below your portion of medical coverage and it breaks it down, showing additional plans and costs. It clearly shows me and my spouse receiving over $1500 a month ($18k a year) coming from the company, and my Out of pocket portion being a bit over $600 a month (Kaiser). if you put in a date in 2021, it doesn’t show show or allow any calculation, which seems to confirm I will lose it after 12-31-2020. Is this correct? Am I reading that wrong?

Has anyone heard that only certain management employees were notified of this change? L-B employees did receive the notice, but L-T employees did not. Same title, same age, same service, same area manager work group.

We are talking about only $2700 a year, hardly worth quitting your job. Also, it’s not a convenient to use debit card. You have to fill out and submit paperwork for receipts you collect all year. I just finished doing 2019 submission for reimbursement and it was 62 pages of $5copay, $5copay, $10copay, $20pr-scrip-ion, etc. etc, each listed separately to add up to the $2700 max. What a pain, It almost wasn’t worth the time it took me to prepare it.

Is the HRA only for bargained employees.

"The Fed is already talking about dropping rates at least a couple times in 2020. Some even suggest negative interest rates at some point. If that happens those taking the Lump sum AFTER Jan 1 2021 would get a big bump in the payout. So you loose either way but the waiting and getting a much larger Lump sum could make up for the loss of HRA."

That "Retirement Lump sum" is not a guarantee. According to AT&T.....there is no law that says they have to pay any Retirement Pension. Employees did not contribute to the Pension, it is all company monies.

Not my saying.....Only telling you what has been read.

Absolutely no way to know which way this will go as craft. It’s a NON-bargained perk, given at the whole discretion of ATT. DONT leave solely on that perk....as many as stated, they can pull it any time! With the money crunch there in.....don’t see them to continue funding it. Just another ploy to get people to leave. I stay 3 more years.....the extra SS benefit will pay for it!!

If you are a Union member, please call your Local. You will find this has no effects for two reasons. First is this benefit is covered over your contract. Once your contract is up the Company can do what with that ( basically) Medicare Supplement after 65. So don't run out of here solely based on that benefits( actual a subsidy) . There is no guarantee that by retiring before 01/012021 that they will not refined it later

"A health reimbursement account (HRA) is an employer-funded plan that reimburses employees for medical expenses not covered by company-sponsored insurance. Because the employer funds the plan, any distributions are considered tax deductible to the employer." - from www.investopedia.com

This is one reason the company may continue providing the HRA.

Currently HRA accounts are only funded thru 2023, so bunches of us won't get it anyway. All those who might turn 65 before 2023, might get a year or two of it. They said there will be a review in 2023 to decide if to continue this program. There still is some government money being paid for AT&T to manage over 65 Plan D pr-scrip-ion plans, although all the plans sold thru AON cost.

A Health Reimbursement Arrangement (H R A) is an employer-funded account that helps employees pay for qualified medical expenses not covered by their health plans. H R A>s are compatible with all types of health insurance plans and they are owned by the employer.

It's for Management only...contracts cover specifics. Even if you leave before 01/01/2021 do not guarantee those benefits when you turn 65

The Fed is already talking about dropping rates at least a couple times in 2020. Some even suggest negative interest rates at some point. If that happens those taking the Lump sum AFTER Jan 1 2021 would get a big bump in the payout. So you loose either way but the waiting and getting a much larger Lump sum could make up for the loss of HRA.

Currently they have say no say for Bargained Union members...they keep thier payments

Are you talking about our hsa match?

What is an hra

Troll