This may have already been discussed but could not find it. I cannot believe how much the premiums are for retirees! It is impossible to control so had to change to Consumer Plan and pay out $2500 before the plan will pay 80%! This is beyond ridiculous. Then they tell you that you HAVE to get your meds by mail order! I did not think this was legal and told HR so but of course they know less that nothing. I made three calls, talked to three diff people and got three diff answers. Surprised? I am not. I think we are used to it by now. I have asked the manager to train the people who answer the phones. Then I just got a letter stating that I don't HAVE to do mail order. Gee, wonder what happened???? Guess it wasn't legal after all. Of course this is January and most of us have made the change and now to change back would be a hassle and most won't. I think that is what their plan was all along. It is really sad the way BB&T treats their retirees. All employees for that matter. They may be rated high in customer service, but they surely don't treat the employees in the same manner. I have spoken with other retirees and they feel the same way. Any thoughts out there as to how we can attempt to change this>?
Yes, as I said, I got this letter also. Unfortunately, too late to stop the sign up process and first order. Yes, I am thankful that I have insurance but do not feel that we should have to pay so much for it because the pension does not increase each year as insurance premiums do. All part of life of course.
Medicare Advantage plans - most do not REQUIRE the insured to use mail order BUT the net cost to the insured is considerably less if they take the generic by mail order, often no additional charge as the Part D premium covers the generic.
Your post gives me to believe you are not yet Medicare eligible. If that is the case, you are receiving employer paid medical in early retirement. Consider yourself lucky as there is a strong trend for employers to cut back or eliminate retiree coverage altogether.
Likely the eligibility age for Medicare is going to rise in the not too distant future. It will be prospective, that is would apply to new claimants and only to those who have not attained some given age (62 perhaps) so that they will have time to make career plans.
In today's world many have already seen the writing on the wall and are planning careers that will continue past age 65, maybe not the same career but continuing work for both the income and the medical benefits. A lot of talk inside the Beltway that labor people are exhausted and have to retire at age 62 or 65 or ... the age of the moment, but the reality will be that they too will plan ahead eventually.
JMHO, but with years of professional experience behind it.
As a retiree, I think we are all coming in on the short end. Price of everything is going up but my retirement income. (Our gov't officials income goes up. WV legislature in the past 15 yrs have voted to give themselves over 500% increase.)Many elderly are finding that their income is not meeting everyday needs. Old age medical care just might dramatically reduce ones standard of living. Our prayer or as it should be: Lord let me live long (healthy) and die fast. My heart cries for those that are not or will not be fortunate.