Retiree Insurance

"I was laid off and because I was over 55 and had 10 years service I was entitled to the company's health retirement benefits. I picked Ameihealth POS plan for myself w/o dental and I am paying $452/month plus co pays, etc"

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You said, "w/o dental". I thought there was no dental available for retiree coverage. And how did you pick Ameihealth POS plan? I thought we had to use United HC.

 

BMS has not paid much for retirees health now for several years, you need to plan on paying your own way when leaving. As far as other companies like JNJ, most will probably go our way eventually. European companies will most likely keep more generous benefits.

Remember where all this came from. Jim Cornelius, a former CFO, cut every fucking penny he could from employees to boost earnings per share, which boosted his bonus big time. He was already worth several hundred million dollars from his Guidant deal years ago. But he had BMS pay him $45,000 per month for living expenses in NY, over and above his salary, bonus and stock options/restricted stock. He cut the defined benefit plan, made retirees pay tons more for health all so he could make more for himself.

This is the BMS way, I am amazed how many can't or don't want to see it. Many want to be in that situation, so they say, fuck it, I want it when I get there. Pathetic, but that is the BMS culture FROM THE TOP DOWN. Look out for # 1 and fuck anyone who holds you back.

 

What is Ameihealth and how much does it cover and cost?

 

Look, retiree insurance is an easy target to save money. Those who are retired, BMS doesn't care because they figure these "people" are gone. Those who are working and younger couldn't give a shit because it doesn't affect them. Your HR Generalist will tell you a prettier story but when was the last time HR said anything that was in your best interest. Either grow up or get out if your counting on this to make a miraculous comeback

 

It is gone forever. HR has 1 agenda, protect BMS over all other parties. They do not have employees best interest in mind.

 

United Healthcare was an option but that was even a few hundred dollars more per month. Amerihealth was one of the cheapest with still decent coverage... Retiree plans don't get dental, you have to find it privately if you want it, another retiree expense... Unless you love your job leave ASAP for something you do love because there is no benefit in staying.

 

Even if you are a current employee, HR at BMY considers you GONE. Good luck sucka!! Only third rate people stay with a third rate company.

 

Except for the peeps w/ 20 yrs of service

 

Re. Getting a supplement and your younger spouse saying on BMS ins. You can't do that. I thought about getting a very high deductible($5000) for spouse and supplement for me since I am paying over $9000 in premiums anyway. Then putting that deductible in a healthcare savings acct

 

guess you'll have to spend some of that healthcare dollar you earned over the years! boo hoo!!!!!! Don't forget to take your asa and plavex.

 

Don't worry -- Obama Care in 2014. Free healthcare, paid tuition, new house, pretty wife, and good looking kids -- It's all in the package

 

Pretty WIFE?! Check out fas bok! Don't thk soo!!!

 

What makes the BMS situation so different is that they had multi-day programs, Horizons, with Topper Brick extolling the promises of benefits when you retired.

 

Yes, that's what irks me, having sat through several of those meetings. They were admittedly RETENTION meetings. And even worse, they pressured you to attend them, because of so many people jumping ship!

 

Don't forget - under Obamacare you also get free membership in GSA and go to Columbia as a secret service agent. Can't wait till 2014.

 

If you are on Medicare look at an Advantage plan with someone like UHC. Very good extra benefits including Rx drugs. In N C we pay nothing over Medicare and have coverage at least as good as BMS retiree med. Retired in '04 paying $73 month and increased 900% before we qualified for you Medicare. NO benefit to BMS retiree med PERIOD. Loved BMS but the truly forget you when you retire.

 

My only advice would be to max out your 401-K and NEVER withdraw a penny.

 

Depends on how long you've been with BMS...if your years + age equal or exceed 85 you get maximum benefits....so it will differ for everyone....

 

With 85 points it will cost around $742 a
Month for 2 people

 

Could you please define the word pention? I can't find it in the dictionary.