Thread regarding Verizon Communications Inc. layoffs

pre-medicare retiree access was set up to comply with ACA and is with anthem instead of on the exchange

Verizon run by criminals and more changes to come and not for the better.

Remember, Vz can change the rules any time they want. This is what Nokia/Alcatel-Lucent/Lucent has been doing. Retirement benefits are being cut for those who have already retired. Alcatel-Lucent has a retirement club. Look it up on Google. You can ask people who have retired to see what benefits they have cut. I recall, first they use to give healthcare to both employee and partner, then just employee, then no one. So even though it says today in the benefits package that healthcare will be covered, that doesn't mean they don't have the right to change it on you at anytime.

I just ended my 35 week severance and opted out of the Cobra today. It would have been 21k a year. Fortunately my wife is employed so we will be taking her plan. I was told by HR that if she lost her job we could opt back in any time. Also at 65 VZ could be the secondary role Medicare.

Thanks to all who posted. Good info!

From what I've heard, COBRA is an extension of the employee plan, which is healthier and younger people and so has lower costs. Retiree health care is a smaller, older group, and thus much more expensive. It may make more sense to go with COBRA for the last four months, and then find a plan under a new employer or through Obamacare. That means, however, forever forfeiting Verizon retiree healthcare (including Medicare Advantage at 65).

"Also I’ve often seen people mention getting their own insurance being cheaper than the Verizon unless you have a really really high % that they pay."

I get the "50% subsidy" which means nothing like 50% off the current price unfortunately! (Anthem in 2018 was about $7K for one) I think the max for management is 80%, which needed 30 years of service prior to 2007. Don't know how many potential retirees would fit that.

My guess based on some info seen often at joe schmucks that retiree medical is a different bucket since you are in an all retirees pool. Cobra you’d be in the main insurance pool with all the young and healthy folks.

Also I’ve often seen people mention getting their own insurance being cheaper than the Verizon unless you have a really really high % that they pay.

If the company wanted to do what's right they would go back and make whole all the management that had their pensions and medical stopped and reduced. The company has gone back on their word when the management jobs were offered to us. The union employees have everything and even have received pension increases which is good for them. The CREDO means nothing to the company nor do it's management employees.

If the medical wasn't frozen at 2007 contribution rates more people would take the offer. This is disgraceful for a company that nets 2 billion a month. So much for the word Integrity in the CREDO

Just checked in about you retirement planning.. $22,182 for me plus 1.. “pre-medical retirement benefit”. That’s a lot to pay out of pocket even with the enhanced offer. I would definitely not be able to retire since I am mid 50’s and provide benefits. Cobra is $$13,185. For same coverage.

Guessing the number of people in total and age distribution being covered in each play accounts for the difference assuming those are the price points.

I've heard this too and it's being looked at by the benefits dept. It may be incorrect cobra charts. But even so, you'll only be able to use cobra for 4 months beyond the end of the severance period as cobra ends after 18 months and the company is paying for the first 14. Your best best is to confirm this with the benefits dept (in writing).