Retiree Medical Benefits

Celgene has a wonderful culture based upon autonomy, helping patients and focus on performance with virtually no metrics-ball or micromanagement. It's been a great 15 year run, but I get it's over soon.

If big pharma is buying us, I'm glad it's BMY and not PFE, JNJ or the worst, Merck. Thanks for taking us.

Question, what are the retiree medical benefits like at BMY? Specifically, when to you acquire them? Age 55 with 5 years service? Rule of 65? Other? Cost during retirement? Anything else you think pertinent.

Thanks very much and please do all you can to drive your PPS up. That's make my buyout all the richer.

 

We are making you guys rich, is that not enough?

 

There is no pension at Bristol. You’d likely be offered cobra if not Medicare eligible which is 65 years old. Good luck.

 

not asking about the pension. we don't have one at Celgene. am asking about retiree medical? do you guys get to retire with medical benefits? thanks

 

No. They did away with a pension years ago and all the medical dissolved plus was only for employees with 20+ years. Your years of service at Celgene won’t help because the pension offering medical is gone.

 

thanks

 

So are there any benefits to working at BMS? Celg has greatly improved benefits for employees the last few years. Should we stick around or jump to a different start-up?

 

Your mother gives blo jobs to all new BMS whilst you clean the shitter shine boy.

 

There is no reason to stay at BMS. If you can - go somewhere else. Culture is a mess and benefits are nothing to be proud of - much better deals out there.

 

BMS Retiree here. The medical benefit starts at age 65. Prior to that, you will be responsible for medical coverage through commercial insurance - unless you have disability. BMS offers standard coverage in place of Medicare secondary plan. As it stands right now, many of the BMS standard coverage for retirees after age 65 is quite appealing since you don’t pay anything for many of the BMS medications- and there are lots of them. Premium has actually declined in 2019 from the previous year. Hope this helps. BMS is a great company to work for. Best to you.

 

So, who can I call regarding medical coverage options and prices?

 

Have you guys considered the benefits from joining a PBRG?

 

BMS offers very generous medical benefits to retirees and their dependents, including prescriptions, through United Healthcare. The only coverages that you need to COBRA are dental and vision.

I'm not clear why someone would post that retiree medical benefits went away with pensions. If you don't know anything, keep quiet, don't post bullshit.

- A well-covered BMS retiree

 

BMS Retiree health benefit premiums are pricey and many wind up just purchasing other independent coverage. The reason is that premiums have increased over the years and even with the rule of 85, the maximum subsidy BMS offers does not make coverage reasonably priced. Best if possible to keep working to 65 for Medicare + supplemental.

 

Can someone please provide a summary of the available health benefits upon retirement such as what age/tenure do you need to acquire them? At what cost?

thanks.

 

My 2020 retiree medical costs are going up by 17% compared to 2019. At that rate, insurance premium costs will double in five years!