Health Care for Retirees Eliminated

[runnerr]

Hello, I am interested on your opinion as to when the major companies are going to stop providing heath care to retirees. I know that Stryker in Kalamazoo doesn't offer anything toward your insurance once you retire.  I would like to get some facts or just guesses as when Pfizer, Merck, Gm, Ford and all the other major companies will follow suit.  Runnerr[/color

 

[cute fuzzy bunny]

Thats going to require forecasting of health care costs, because I think a lot of businesses will stop offering retiree health care the moment it becomes too expensive.

Its probably irrelevant long term because if the costs keep going up (and theres nothing to stop them), nationalization of the health care system is virtually inevitable. Or everyone will be funnelled into a super-high deductible plan and do a lot of out-of-pocket spending.

 

[parnass]

Hello, I am interested on your opinion as to when the major companies are going to stop providing heath care to retirees.

Lucent Technologies (formerly part of AT&T) elminated retiree family and dependent benefits for a large number management retirees last year. This affects people who had already been retired for years.

Lucent warned they will eliminate health care benefits for the retirees themselves in a year or two. Meanwhile, they have jacked up the retiree contributions (e.g., 600% in the last 4 years for me).

I see healthcare costs as the biggest obstacle to retirement planning.

 

[Mr._johngalt]

Paid retiree health insurance is going the way of the dodo bird.

JG

 

[Michael]

...nationalization of the health care system is virtually inevitable. Or everyone will be funnelled into a super-high deductible plan and do a lot of out-of-pocket spending.

I don't see nationalization under the Republicans. The high deductible route is the way they are trending. Neither party seems willing to trim costs for individuals by eliminating the expensive monopolies. Their only interest seems to be in reducing costs to government and corporations by putting more burden on the middle class patients.

 

[unclemick]

We may have some form of 'stealth nationalization' already - I thought I read on another forum some ??study/estimate?? that over 40% of all medical bills are paid by the government now.

The other problem I see is the bogus billing/cost shifting thing - the big dogs(govt., HMO's. etc) cause cost shifting to those without negotiating muscle to back them up.

Trying to find accurate data as to who is really paying what and what actual costs are ?? Lot's of luck.

 

[GTM]

Hello, I am interested on your opinion as to when the major companies are going to stop providing heath care to retirees. I know that Stryker in Kalamazoo doesn't offer anything toward your insurance once you retire.  I would like to get some facts or just guesses as when Pfizer, Merck, Gm, Ford and all the other major companies will follow suit.  Runnerr[/color

It seems simple enough for a company to offer health insurance to retirees at any age at the cost of COBRA. It would not cost the firm anything but I dont think any companies do it for longer than 18 months which is the periord required by Federal law.

I guess they figure why should they.

 

[vic]

I work in tech and all the big companies seem to be moving away from retiree health insurance. Most companies have also eliminated pension plans. 401K match is the only thing left that will remain yours once you are out.

I have excellent health coverage with my current employer. Of course I would not mind keeping it when I am not there no more, but that is obviously not going to happen. I would be very comfortable with a high deductible plan that does not cover all sorts of nice extras that I don't think I will be needing anyway (e.g. mental stuff or maternity - emergency/catastrophic is good enough).

I don't see a national health plan under the republicans either, even democrats would have a tough time with it. Since very many people in this country do not take responsibility for their own health, I don't see why the general public should either. The obesity epidemic is a prime example.

I think at some time, those who are fairly healthy and are financially ok, will take a high deductible plan. Those who are not, will end up in a state sponsored high risk pool with high premiums or nothing at all.

Vicky

 

[treypar]

The problem that I have with Healthcare is that the costs are uncontrolled without insurance. I recently had a procedure and was billed $3000 but the insurance company rate was $1500. My recent physical was also half the cost of the billing rate.  If you do not have insurance you are exposed to the retail cost or more  of healthcare which few pay. Many individuals without insurance do not pay and are written off by the provider so the amount billed does not matter. It only matters to people with assets. Does this make any sense?

 

[Michael]

We may have some form of 'stealth nationalization' already...

We have such a plan, but only for certain groups, such as the elderly (Medicare) and poor (Medicaid). The middle class is on their own, seen as the cash cow for special interest groups.

 

[Michael]

It only matters to people with assets. Does this make any sense?

This is the group that the special interest groups are motivated to pay the policians to allow them to fleece. Why bother trying to fleece someone who doesn't have anything worthwhile to take?

 

[Michael]

I would be very comfortable with a high deductible plan that does not cover all sorts of nice extras that I don't think I will be needing anyway...

Unfortunately, the law in many places requires policies to carry a lot of expensive coverages useless to the healthy, such as drug detoxification.

 

[Eagle43]

We have such a plan, but only for certain groups, such as the elderly (Medicare) and poor (Medicaid). The middle class is on their own, seen as the cash cow for special interest groups.

Currently, part of Middle Class. However, Elderly is on the horizon.

 

[treypar]

Why can't the individual who is able to pay get similar costs to the insurance companies able to get comparable costs. That is why our system is destined to fail because none of us can afford twice the cost even if the catastrophic event is not considered.

 

[Mr._johngalt]

Unfortunately, the law in many places requires policies to carry a lot of expensive coverages useless to the  healthy, such as drug detoxification.

I don't agree with this. Drug detox is only
"useless" until you need it.

JG

 

[treypar]

I am not concerned about Drug detox just the major other costs which if you do not have insurance seem to be about double the cost with insurance.

 

[Michael]

However, Elderly is on the horizon.

I know the feeling. How did that happen?

 

[Michael]

I don't agree with this. Drug detox is only
"useless" until you need it.

To me, it seems like something entirely under my control. I don't smoke, drink, or use recreational drugs. What are the odds?

 

[Mr._johngalt]

To me, it seems like something entirely under my control.  I don't smoke, drink, or use recreational drugs.  What are the odds?

Okay, you are pure and thus are unlikely to avail yourself.
I can buy that. But, not all so afflicted are junkie scum,
ripping off little old ladies for their next fix.

JG

 

[Michael]

I never suggested that they were John. Just that detox insurance is not something that I would willingly buy if I had a choice. It seems like an unnecessary expense to me.

 

[Mr._johngalt]

I know the feeling.  How did that happen?   

And young people NEVER see it coming.  I didn't and I suspect
others don't either.  One day you are 25 and full of piss and vinegar.
The next thing you know you are just full of it, and ahead the grave
yawns in anticipation. We will all be there soon enough, and maybe
it's better if the young don't see it.  God made the world round so that
we couldn't see too far ahead.

Jg

 

[Mr._johngalt]

I never suggested that they were John.  Just that detox insurance is not something that I would willingly buy if I had a choice.  It seems like an unnecessary expense to me.

Okay. I understand.

JG

 

[Michael]

God made the world round so that we couldn't see too far ahead.

Perhaps He allows us to grow old because He does want us to think about what lies ahead:

And as it is appointed unto men once to die, but after this the judgment: Hebrews 9:27 KJV

 

[REWahoo]

One day you are 25 and full of piss and vinegar.
The next thing you know you are just full of it, and ahead the grave
yawns in anticipation.

Great googledy-moogledy, JG! Do you own a black paint franchise? For a guy only 60 years of age you are one heck of a pessimist when it comes to mortality. I'm only a couple of years behind you and I'm still full of P&V. (OK, so maybe I have to get up a lot more often at night, but so what?) I dang sure don't see a "yawning grave" ahead of me. We all know it's out there somewhere, but at 60, there should still be enough curvature of the earth to keep that b*st*rd over the horizon.

Lighten up!

REW

 

[Mr._johngalt]

Great googledy-moogledy, JG!  Do you own a black paint franchise?  For a guy only 60 years of age you are one heck of a pessimist when it comes to mortality.  I'm only a couple of years behind you and I'm still full of P&V. (OK, so maybe I have to get up a lot more often at night, but so what?)  I dang sure don't see a "yawning grave" ahead of me.  We all know it's out there somewhere, but at 60, there should still be enough curvature of the earth to keep that b*st*rd over the horizon.

Lighten up!

REW

You're right REW. But that was a pretty good post IMHO, if a bit
on the dark side. Anyway, I will strive for a more perky approach tomorrow. Elvis has left the building..................

JG