Folks Pfired over 50/under 55 with over 25 years' service

Can anyone provide feedback on this. I was 53.5 years old with 25.5 years of service. It hasn't been easy finding work with benefits. I've appealed to Pfizer Benefits Committee--request for bridging to receive retirement health benefits for a single person.

I was a real "bargain" employee compared to most others going out with packages or remaining with Pfizer. Any feedback on the best way to appeal this. Half of the people let go in my wave were over 50. Are there any class action suits going on with people in this over-the-hill group?

Suggestions would be helpful.

 

I was 51 years old with 23 years in (legacy Wyeth). At least I qualified for the 70 principal but naturally no health benefits will be had by me?

 

I was 4 months from turning 55 when laid off.
25.5 years of service.

Same here...received pension pretty much intact under the rule of 70, but no health benefits. (Those health benefits were one of the reasons I stayed around so long.) What a shame to work so long/hard and be so close only to lose in the end.

I am not aware of any class action suits, but have heard that there are some in process.

Really, what can you do if you signed away your right to legal action in order to receive severance?

Wonder if Pfizer "bridges" their own people, but just didn't do it for legacy Wyeth?

Also wonder if Pfizer might do away with retiree benefits all together in the near future. Then it will be a mute point.

Would love to hear if you are successful with your appeal to Pfizer for retiree health.

 

I am not holding my breath about getting health/medical but it was worth a try. Sooo many companies though do recognize the 25-year milestone.

Thank you for responding!

 

How does one go about making an appeal? And does it jeopardize severance pay to do that?
Any contact info you can pass on would be appreciated.

 

I sent a certified letter to the Benefits Committee; the information on how to appeal was in my package. I think you have to do it within 90 days of termination date. It hasn't impacted my severance pay.

 

There are a TON of people in this situation. I worked in the home office for 33.5 years and I was 53.5 years old when I was let go in March 2010. The Rule of 70 was good for the pension, but now I feel like I'm going to have to pay for my own benefits for the rest of my life and I'm only 54. I would love to know if we have any recourse, but I'm not holding my breath.

 

I left Wyeth a couple of yrs ago at age 53.I am now 55 and expect my 7 figure lump sum check soon.After rolling that and my 401-k over to an IRA,I should have a comfortable retirement in a few yrs(I am working again).The big question mark is medical coverage once I retire.From what I have read,I can expect to pay premiums of at least $1,000 a month for myself and my spouse until I hit 65.That`s quite a chunk of change.

 

I am sure all of you know this but we are eligible to request medical coverage under Pfizer. We have to pay what it costs Pfizer but you do enjoy the group rate. This is clearly defined in your packet even though I had to go to the second level to have someone believe me.
Now the bad part. I cannot believe what they told me it would cost. I need to call again for a new price but luckily I don't currently need it as I have found employment. For medical and prescription plan it will be 1500 a month for my wife and I. Ouch. Not much of a benefit and again I don't believe the person I spoke to.
My current employer lists what I pay and what they pay for my coverage. For my wife and I with RX it is 900 a month total. United Health Care instead of BC/BS but still a long way from the 1500.
If you do call please list on here what you find.

 

Poster #1....any response from Pfizer yet on your appeal for retiree health care benefits?

If not, would you share where have you found the best rates for health insurance?

Anyone care to speculate on what the value missed is equal to in dollars for those who were so close yet missed out on retiree health coverage? (10 years of medical coverage).

 

I don't understand. I was laid off in Nov 09 when everyone left. 51 yrs old 24 yrs service. Had insurance coverage through severance, received Cobra letter, called Fidelity HR Source and asked if I should be eligible for retiree health care under the rule of 70. HR looked at the severance documents and said it looked like I did qualify. After a week of whatever, they called and said that I did qualify, and that I would be covered as of 1/1/11. $130/month for wife and I. My advice would be to call HR Source and get enrolled.

 

How dare you. I call total BS on this post. You are high on something or a total classless, demented scumbag. For all of you that this POS gave some false hope, you have to be 55 with 10 years service to receive retiree health care, rule of 70 don't mean squat. What kind of person are you to post this?

 

I agree! Poster #11 is inventing information. I don't understand the high he or she is getting from doing this!

 

Well,I guess you can flame me if you want. Call HR source and see if I'm lying. Here's a screen shot of my coverage from the HR Source webpage. Note that it says retiree.

* Health & Insurance

Medical: 2011

Comprehensive Medical

View Another Benefit

* Using Your Plan
* Cost and Coverage
* Covered Dependents

Top Medical Questions
ID Cards

* When will I receive ID cards?
* How can I obtain a prescription if I have not received an ID card?

Claims, Finding a Doctor, and Covered Services

* Who should I contact if I have a question about the status of a claim or a denied claim?
* How do I determine if a treatment/service is covered?
* How do I locate a doctor in my network?

* View all Medical Questions

Tips for Saving Money

* Use a network provider
* Save money on prescriptions
* Use pre-tax dollars to pay for your qualified healthcare expenses

Did You Know?

* All Medical Plan options include Rx coverage

Costs
Plan Name Comprehensive Medical
Coverage Retiree + Family Pre 65
Before Tax Per Pay Period Cost $0.00
After Tax Per Pay Period Cost $126.00
Your Billing Information
View Account Balance and Activity
Find your balance due, print an invoice, change your payment method, and view other payment information.
Did You Know?

* All Medical Plan options include Rx coverage


The screen shot didn't work so I copied and pasted the info.
It's not going to cost you anything to check for yourself. I still don't understand people's unwillingness to help themselves. Yell if you want, I'm not coming back here.

 

Poster #11....how do you even lay your head down and sleep at night after posting such false information?
Agree with the others that you are either high or just the scum of the earth.
We all know that the rule of 70 did not qualify us for retiree health unless we were 55 with at least 10 years of service.
Shame on you.
Your parents did a bad job raising you.

 

Welcome to the real world. There are millions of people in this country with out health insurance. Get a job if you want insurance.

 

Poster #15...you are clueless and missing the entire point of this discussion.

 

correction...I mean't poster number 16 NOT 15.

 

No I'm not, you feel that the world owes you something. Just be glad you got a pension or severance. Most people when they loose their job all they get is a final paycheck.
If you want insurance, go out and buy it.

 

The "world" owes me something??? Laughable.
Once again...you are still clueless. You just don't know it.
I think that those of us who were so close to 55 with over 25 YEARS of service EARNED the right to retiree health coverage. We were not expecting the world to GIVE us anything.
I have worked hard for everything I've ever received.
You on the other hand probably haven't a clue as to what it's like to give a quarter of a century of your life to a company.

The rule of 70 treated us fairly well for earned pension, but surely screwed us on retiree health benefits. How Wyeth/Pfizer got away with this I'll never know.