Retired medical coverage with Pfizer

Discussion in 'Wyeth' started by Anonymous, Apr 8, 2009 at 7:03 PM.

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  1. Anonymous

    Anonymous Guest

    I know I'll probably get blasted with negative comments from the people undergoing the transition but here goes anyway. Is there anyone out there who knows what Pfizer plans to do with medical coverage to Wyeth retirees. Medical bills are eating me alive and I am concerned about our future (if I have one) once Pfizer is running the show.
     

  2. Anonymous

    Anonymous Guest

    Transition web site says that retirees were to receive information regarding acquisition mid-March. If you didn't, I'd contact Wyeth HR.
     
  3. Anonymous

    Anonymous Guest

    There was no information received in March. Contacting Wyeth HR as a retiree is a waste of time. The SEC filing says that Pfizer cannot offer benefits to Wyeth retirees that are any less than they offer their own retirees. That being said, they can change the benefits to everyone any time they want.
     
  4. Anonymous

    Anonymous Guest

    Received info from Wyeth today but doesn't really tell us anything we didn't already know. Pfizer has agreed to treat former employees of Wyeth who on the closing date are eligible for retiree medeical benefits no less favorably than similarly situated former employees of Pfizer. That said, just as with our currrent Wyeth plan, they have the right to amend or terminate the plan at any time. Wyeth does not know what vendors Pfizer will use, i.e. Blue Cross and Caremark may not be our vendors after closing. As far as pension benefits, nothing changes if you are currently receiving monthly pension benefits. If you are vested but not receiving benefits yet, your accrued benefit is protected under fedarl law, including the lump-sum payment option. The only circumstance under which you can begin receiving your benefit before age 55 would be if the total present value of your benefit is $1000 or less-in which case who the hell would care anyway!!! One very interesting fact is the assumption they use to calculate what the value of stock options might be. They use a Merger Consideration proce of $50!!! In other words, they are using a Pfizer share price of less than $17/share to calculate this.
     
  5. Anonymous

    Anonymous Guest

    You'll get coverage until overwhelmed by legacy costs like GM. Yes, it happens in Pharma too.
     
  6. Anonymous

    Anonymous Guest

    Pfizer has a retiree website www.pfizerplus.com which provides news to all retirees concerning health care changes.
    The first qtr. newsletter speaks to the changes coming to retiree benefits starting in 2010.
    The upcoming newsletters this summer will provide more info on costs,etc.
    Hopefully it will not be a huge difference but at least all Pfizer and Wyeth drugs are free.
     
  7. Anonymous

    Anonymous Guest

    There will be an opportunity for dental coverage, something current Wyeth retirees do NOT have
     
  8. Anonymous

    Anonymous Guest

    What do Pfizer retirees pay per mo. for medical coverage? Wyeth goes by what you made in salary and bonuses per year when you retired.
     
  9. Anonymous

    Anonymous Guest

    I don't know for sure but I heard it was A LOT!!!! Wyeth is incredibly inexpensive so i think we can look forward to a huge increase.
     
  10. Anonymous

    Anonymous Guest

    Thanks for the Pfizer website on retiree medical benefits. I went on the Pfizer board and received a reply that retiree medical runs under $100 a mo. and $120 for dental. I asked if the $120 is per mo., that's a lot. Of course Pfizer like Wyeth leaves an out that they can change anything at anytime so who knows what the final agreement will look like.
     
  11. Anonymous

    Anonymous Guest

    The PFE retiree website www.pfizerplus.com has now restricted access to current PFE retirees only.
    Looks like we are screwed.
     
  12. Anonymous

    Anonymous Guest

    Not a single thing has changed. You have always been able to read some of the articles but not view the info that pertains to pricing. I ahve watched this web site for the past 3 motnhs and it's been the same the whole time.
     
  13. Anonymous

    Anonymous Guest

    You have not logged in to their website in the past week.
    Do so and you will see you should not post before you make a... out of yourself.
     
  14. Anonymous

    Anonymous Guest

    Just logged in 5 minutes ago. It's EXACTLY THE SAME, idiot.
     
  15. Anonymous

    Anonymous Guest

    You did not access any page.
    The community membership sign in shows up and restricts access.
    It states " the page you are attempting to access is available to pfizer community corner members only"
     
  16. Anonymous

    Anonymous Guest

    Well it looks like we are getting screwed out of the prescription plan.
    On a lot drugs an looks like to stay on them will cost me more than
    my SS check each month. Can't find a thing on mail order an Caremark
    only refers me to Pfizerplus which seem to me to be no more ads.
    We had a good drug program with Wyeth. $21 or $42 for three months.
    This is confusing to me.
     
  17. Anonymous

    Anonymous Guest

    ALL Pfizer and old Wyeth drugs are free! Also Pfizer owns Greenstone generic co. and all their drugs are free
    I was sent the 2012 healthcare enrollment booklet last week with all info you need.