A co-worker forwarded me this article: https://www.marketwatch.com/press-release/new-webinar-series-for-att-employees-on-healthcare-changing-interest-rates-offered-by-the-retirement-group-2021-12-01
I don't have enough money to retire because I don't have 75 points yet. Is this a temporary change/will those benefits come back? It seems like a pretty huge change.
Healthcare costs at T are rising faster than anywhere else. Stankey and Santone are shifting more and more of the cost of healthcare to the employee. Its as simple as that. Employee pays a higher fee for a higher deductible plan.
Someone’s gotta pay for joes jumpers. Pay more for less. Doctors are a joke now. They don’t care, so my cost of health care goes up to see a quack in the pocket of big pharma
I got surplused in June 2020. Here are my retirement BCBS Bronze rates for retiree + spouse (2 people). Note this is just the medical rate (no dental or vision in these numbers):
2020 - $241/m)onth
2021 - $270/month (+10.8%)
2022 - $345/month (+22.5%)
With dental, vision, everthing else, the unsubsidized 2022 cost is $1,509/month and T subsidizes $1,133 leaving me $376/month to pay. I don't think healthcare costs went up 22.5% but think they are subsidizing a lower percentage of overall and shifting more costs to retirees. If that helps stretch the dollars already in the retire insurance fund a few more years, so be it. I'm still in my late 50s age-wise so have a ways to go till I reach age 65.
Point is it's not just rising costs but also shifting a larger portion of the cost to retirees to pay.
IS THIS REAL? It looks like a switch to ObamaCare would save T billions per year . Are they doing it?
AT&T could absolutely switch to Obamacare and save a significant amount on their healthcare costs https://blog.techstaffer.com/att-healthcare-to-obamacare
Yes it is will be main bargaining again.
Two healthcare trends that are happening and no one talks about:
You can search the AT&T Healthcare White paper on the internet that discusses the amount of money ATT would save by paying the $2B Obama care fine but save $5B a year in healthcare costs
I decided to leave this year because of the healthcare changes. Can't afford to not
After 20 years with the company this is how they repay us
Frontier and the divisions that Frontier bought from Verizon just announced BIG manager 2022 Healthcare cuts. It heard in came up in a Florida union meeting this morning. The trrand continues
Frontier and the divisions that Frontier bought from Verizon just announced BIG manager 2022 Healthcare cuts. It heard in came up in a Florida union meeting this morning. The trrand continues
A single payer system would solve all of this nonsense easily...
They are really trying to force people out with this one... it is only going to get worse from here!
It is crazy what this company thinks they can put us through and stick around.
We need single payer Healthcare now. Just add up all the spend and spread it evenly across each person as a wealth tax.
No benefit every "returns". He that taketh away looks for more to take away. Stankey is destroying T from the inside out and the by the looks of the stock from the outside in. Take nothing for granted or as guaranteed. (Things I learned in kindergarten)
No benefit every "returns". He that taketh away looks for more to take away. Stankey is destroying T from the inside out and the by the looks of the stock from the outside in. Take nothing for granted or as guaranteed. (Things I learned in kindergarten)
"...As a newly retired employee, same plan is $510/month (rising to $565 in Jan) and if I didn’t retire this year to keep my subsidy and left for any reason in 2022 or beyond and before I turn 65 I would be paying $1600/month without subsidy (meaning 100% of the monthly cost not including deductibles)."
I'm not picking on ya...but you're trusting T to keep their word and keep you subsidized until 65. You're like Charlie Brown, convinced that Lucy won't pull the ball away from you this time.
If I were that worried about healthcare insurance, I would simply GET ANOTHER JOB. Other companies provide healthcare insurance. Most of them more affordably too.
"A co-worker forwarded me this article" LOL. OP is spamming this board with advertising for The Retirement Group.
This is old news, shilling for financial planning consultants. Everyone who meets MR75 has already been notified of this change. If you want to keep these retiree benefits, you should probably be gone already. Tick tock. You have 23 days.
Healthcare is a scam & companies like T perpetuate it because it benefits them.
Go pull up UHC's stock price and profits for as far back as it goes - there's this weird correlation between an increase in their profits and the how much we're all paying for coverage.
I'm waiting for Stankey and Santone to eliminate all company provided healthcare as a benefit to active and retired employees. Its just a matter of time. Can you imagine the size of the bonus for these two from the BOD when the healthcare benefit is eliminated?
My 2021 costs of healthcare as an active employee we’re $300/mo for Blue Cross silver +1. As a newly retired employee, same plan is $510/month (rising to $565 in Jan) and if I didn’t retire this year to keep my subsidy and left for any reason in 2022 or beyond and before I turn 65 I would be paying $1600/month without subsidy (meaning 100% of the monthly cost not including deductibles).
Healthcare costs rise as with everything else, especially with the current rise in inflation. If T can no longer afford healthcare insurance they can cancel it. Its not rising more for T than any other American company. When Stankey has had enough he will cancel all health insurance like he does everything else.
Well let see. AT&T self insure all healthcare for employees and retirees. Which means they pay all the claims, not the insurance company. Last I heard some years ago the spend between 6 and 8 Billion a year on healthcare cost. So they are just reducing those risk.
Healthcare cost are always rising to fill the profits of for profit providers who get big tax breaks on difference between billed amount and contracted amount, as write off.