Merck Retirees Future???

[Anonymous]

http://www.bnet.com/blog/drug-busin...ions-by-dumping-its-retirees-on-medicare/9429

 

[Anonymous]

Probably. Merck management loves to follow Pfizer's lead. Bottom line, don't count on the bastards for anything and you'll be ready for whatever the future may bring. It is extremely unfortunate that our employers have copied our government in being incompetent and now find themselves unable to fulfill past promises and intentions. That's simply the cold hard truth.

 

[Anonymous]

Probably. Merck management loves to follow Pfizer's lead. Bottom line, don't count on the bastards for anything and you'll be ready for whatever the future may bring. It is extremely unfortunate that our employers have copied our government in being incompetent and now find themselves unable to fulfill past promises and intentions. That's simply the cold hard truth.

Any defined packages are very gray. At the end of the day, more people have been screwed by them. They feel that if you are not there, you are done bring anything to the table. You have no voice.

 

[Anonymous]

exactly so. retiree benefits @ merck are racing toward un-affordable now. the way merck appears to be treating active employees, retirees count as less than zero. makes me wish for 'obamacare" that the drug companies gave so much money in support of. and the drug price controls that will come with it.

 

[Anonymous]

was quoted $879 for retiree health for myself, spouse and 1 dependent. I was also told that when I hit 65 the Merck plan becomes secondary to medicare - so yes, you end up paying a lot - esp when you realize that you have to pay for medicare as well.

This is not our parents retirement, not by a long shot.

 

[Anonymous]

Merck went from being a top company, a most admired company to one of pond scum.

 

[Anonymous]

Merck went from being a top company, a most admired company to one of pond scum.

I have been around for a while and it's just not Merck. A long time ago the companies used this as a tool to get the best people. Now they see it as a liability and will chip away until it's nothing. The whole government back is BS. I have a few friends who are now collecting from that. They get 50-70% of what was promised. It is not your full pension like most people think. You realize that when it's too late.

 

[Anonymous]

was quoted $879 for retiree health for myself, spouse and 1 dependent. I was also told that when I hit 65 the Merck plan becomes secondary to medicare - so yes, you end up paying a lot - esp when you realize that you have to pay for medicare as well.

This is not our parents retirement, not by a long shot.

The Medicare as primary when you hit 65 is not as bad as you think. I have this set up for a few years now. It does require more attention as Medicare and, say, BCBS may not coordinate the benefits properly. But eventually you'll get it figured out. Prescription through Merck is much better than the Medicare option. The rest of your family remains to be covered under the BCBS plan and business as usual. At age 65 your social security will begin and the Medicare premium is taken out of your monthly check.

 

[Anonymous]

was quoted $879 for retiree health for myself, spouse and 1 dependent. I was also told that when I hit 65 the Merck plan becomes secondary to medicare - so yes, you end up paying a lot - esp when you realize that you have to pay for medicare as well.

This is not our parents retirement, not by a long shot.

It depends on your length of service and age. Assuming the 'Rule of 92' (age plus years of service) still applies, the Merck insurance options offered to retirees are bargains compared to what you'd pay in the open market. If you were quoted $879/month, I assume you fell short of the 'Rule of 92'. And the prescription package offered is also better than what Medicare Part D offers. If you're savvy, you can stretch your dollars. Purchase generics (I know, this is a dirty word) from the large-box stores and you can get a 90 day supply for $10-12 dollars if they're on the 'preferred' discount list vs. $20 from Medco.

 

[Anonymous]

It depends on your length of service and age. Assuming the 'Rule of 92' (age plus years of service) still applies, the Merck insurance options offered to retirees are bargains compared to what you'd pay in the open market. If you were quoted $879/month, I assume you fell short of the 'Rule of 92'. And the prescription package offered is also better than what Medicare Part D offers. If you're savvy, you can stretch your dollars. Purchase generics (I know, this is a dirty word) from the large-box stores and you can get a 90 day supply for $10-12 dollars if they're on the 'preferred' discount list vs. $20 from Medco.

Fortunately I have close to 30 years and my cost is less than half of that. Been shopping around for $10 for 90-day supply of generics between Kroger, Walmart and others. Make them price match each other too. One of my favorite pharmacists know to check Medco vs their generic program whenever I try to fill a RX. 2/3 of my RXs are generics or Merck brand name stuff which are free. You have to dig around more. Clarintin is not covered but Clarinex is and you tell your doc to write the latter instead. I agree the Merck prescription plan is much better.

 

[Anonymous]

generics is not a dirty word, all my RXes are generics unless I can get a Merck product for free instead.
Oh, and by the way, I was a field sales rep.

 

[Anonymous]

generics is not a dirty word, all my RXes are generics unless I can get a Merck product for free instead.
Oh, and by the way, I was a field sales rep.

Same here. Surprisingly there are a lot of good generics out there these days going for $10 for 90 days. Perhaps I retired at the right time as premium-priced pharmaceuticals are getting difficult to justify the cost unless it is a first-in-class, unique and a breakthrough.

 

[Anonymous]

Same here. Surprisingly there are a lot of good generics out there these days going for $10 for 90 days. Perhaps I retired at the right time as premium-priced pharmaceuticals are getting difficult to justify the cost unless it is a first-in-class, unique and a breakthrough.

Generic Vasotec, Vaseretic, Prinivil or Prinzide going for $10 for 90 days. If I don't get Cozaar or Hyzaar free I would have no problem going for one of these generic ACEI or ACEI diuretic combinations.

 

[Anonymous]

Curious, if you are a 55 and over grey with under 10 what's the package like, if any. Its a BAD position for anyone in this age group now. Zero jobs out there.

Can you get whatever they roll you to start immediately? Can you buy into the health/dental program at a affordable rate immediately too?

Anybody know this????? Very worried....