Questions of Retirement Health Insurance

Discussion in 'Wyeth' started by Anonymous, Feb 2, 2011 at 12:00 PM.

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  1. Anonymous

    Anonymous Guest

    I was laid off in August of 2010 from Andover. I was very lucky to be 55+ and have 11 years in with Wyeth/Pfizer. I took my Pension Lump Sum and rolled it over in Fidelity Investments.

    I just accepted a great job in January. I consider myself very lucky and I know the pain others are going through - the threat of being laid off over several years takes a toll on one's happiness for sure.

    My question is I can't find out what my Retirement Insurance will cost for my wife & myself once my Severence expires and I'm transferred to Retiree Insurance from the Severence Insurance. We carry the BCBS PPO?

    Can anyone help with this?

    Thanks.
     

  2. Anonymous

    Anonymous Guest

    Rule of 70? Are you sure you qualify? I could be wrong.
     
  3. Anonymous

    Anonymous Guest

    I just made it. I was 59 with 11-years of combined service.
     
  4. Anonymous

    Anonymous Guest

    Oh I see the + sign now. OK. Not positive, but somewhere around $370 a month.

    Maybe someone else has different information, and can clarify.
     
  5. Anonymous

    Anonymous Guest

    I am 61 with 10 years of service coming up soon, and was retained by Pfizer. I checked on Pfizer's website comparing the Wyeth and Pfizer plans for 2009 and the cost of the Wyeth plan for for a family was $157.02 per month. I am certain it has increasd but I don't know by how much.

    Currently it probably makes more sense to retire from Pfizer in 2011 if you qualify as a legacy Wyeth person as the Pfizer plan that everyone is forced to roll over into in 2012 is one where you are credited with a fixed amount of money for each year of sevice and when you retire a percentage of that total amount is deducted each year to pay for the premium. When that total credited amount is depleted, you have to pay the premiums out of pocket. If you live a long life in retirement you could easily end up being in a bind at an advanced age when the insurance is needed the most.

    Wyeth's projected costs are a fraction of Pfizers, and the company subsidizes the cost till you die.

    This all could change, but right now the Wyeth deal looks better.
     
  6. Anonymous

    Anonymous Guest

    I retired from Wyeth (aka) at that time AHP in1995. The health insurance plan was a high deductible that was at no cost to retirees. It now costs only about $ 30.00 /mo. for a single plan. Wyeth even a few years ago implemented the yearly health plans that cover physicals and other exams @ no cost.
    All Pfizer and other legacy drugs are free .
    Pfizer owns Greenstone generic drug company so you can request your pharmacy to order any of the many drugs they produce for free also.