IBM Retiree healthcare - anyone on it?

[tominboise]

If so, how is it cost wise? How about service?

My wife is eligible to stay on the IBM healthcare plan when she retires, due to her company being bought out by IBM last year. Near as I can tell, this will allow us to buy healthcare through IBM at their normal group rates, until we are eligible for Medicare, and then perhaps buy a supplemental plan through IBM when that happens.

If this is true, then it would be a huge relief and financial benefit, as while the plan isn't cheap (about $20k per year for premiums and deductibles for a family plan), it would be way less expensive than buying on the open market.

 

[BeachOrCity]

IBM moved all retirees to their own plans and risk pool years ago. Therefore the plans are basically filled with 55-65 year olds who want a better plan than they may be able to get with ACA.
IBM also subsidizes some employees via future health account (FHA). This usually lasts for a few years at most.
Over 65 retirees are treated completely differently.

Bottom line is that other than fha subsidies for your plan the ibm retiree insurance is almost always more tHan equivalent aca plan even without subsidies.

Pm me if you want more info.

 

[fatboymike]

The future health account (FHA) can also be used to fund future medicare gap insurance ... it's yours to use on IBM insurance until you use it all ....

My ACA plan is less expensive than the IBM retiree plans offered and is an all around better plan - I did stay on retiree dental and vision plans