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Questions on Retiree Health Care

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anonymous

Guest
After 11 years of working, Merck give you retiree healthcare at age 55.

I'm trying to figure out if this really is a good deal, given the creation of aca and state insurance market place.

How does this retiree health care work and saves former employee money?

If you leave Merck at age 55, you pay out of pocket Merck insurance.

Currently, Merck pays about 80% of $20k a year (family of 4).

So what happens after you leave Merck?

At age 56 (after leaving merck), do you pay the entire $20K out of pocket?

Does the premium go up as you age?

If you are 60, does premium jump to $1K per month?
 




anonymous said:
After 11 years of working, Merck give you retiree healthcare at age 55.

I'm trying to figure out if this really is a good deal, given the creation of aca and state insurance market place.

How does this retiree health care work and saves former employee money?

If you leave Merck at age 55, you pay out of pocket Merck insurance.

Currently, Merck pays about 80% of $20k a year (family of 4).

So what happens after you leave Merck?

At age 56 (after leaving merck), do you pay the entire $20K out of pocket?

Does the premium go up as you age?

If you are 60, does premium jump to $1K per month?
Click to expand...
 




Actually the price is higher at 55 and decreases as you get closer to 65. You will still have your current insurance. If you call Merck HR They can give you the exact price of out of pocket.
 








I am a recent retiree, upper 50's. I took the retiree medical and my premium tripled, however, I kept my BC/BS insurance which was very important to me. Same exact coverage, kept all my doctors, my deductible did not start over for the year. It was an easy transition. Better alternative than shifting to my spouse's medical plan that had a lower premium but had terrible reviews/ratings. I was glad to have the option to keep the insurance that I have used and known for years!
 




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