Pension/retirement benefits cut....

Full retail? What a scam company! No one pays full retail through insurance. That is unless you are in a donut hole or a retiree of AZ. What a shithole you guys work for.

 

Thanks again....$25K ought to last at least one year. I will take advice.

 

Ok..what can I expect to pay for medicare, Supplement, and Rx policy....per month? In today's dollars...thanks!

 

Medicare is set by the government. However, like everything else they touch they will double your monthly premium is you make too much money. So watch your investments and keep the income below that level. Your Gap insurance will cost about the same as AZs shitty supplemental which will run out usually after one hospital visit or one year of prescriptions. You will end up paying about the same for much better supplemental insurance. I finally simply cancelled my AZ benefit and purchase a Gap policy from Mutual of Omaha. AZ will cancel you when you reach $25K and will not notify you. So you are stuck holding the bills after that.

 

My financial adviser said that you are almost always better off maintaining your company provided policy. But then he read through the AZ plan and said, "This is the most ridiculous policy I have ever seen. This is virtually worthless. We went out and found our own Supplemental policy and stopped paying the AZ premium for shitty insurance.

 

OK retirees (or those of you who are close to becoming retirees)...here how it works.

The Internal Revenue Service will send your tax data to Medicare. Medicare has what is called MAGI or your Modified Adjusted Gross Income. You will pay out of your social security check (yes, they will reduce your monthly social security payment by the amounts listed on the table).

So, if your monthly social security check is $2000.00, they will deduct your Medicare monthly premium, Your Part B and your Part D.

If you are single and the head of household or a qualified widower and your make $120,000 on your tax return, you will pay $134.00 for your Medicare coverage, $133.90 for your Part B coverage and $34.20 for your Part D coverage. So instead of getting $2000.00 a month from social security your will get $2000.00 - $134.00 - $133.90 - $34.20 = $1697.90.

If you are married and file jointly and both you and your spouse are retired, multiply this by 2 as each of you will get hit the same amount depending on your combined incomes reported on your tax return.

Your Medicare Supplemental monthly premium and all deductibles, copays, etc, ARE ON TOP OOF THESE AMOUNTS.

If you are looking forward to being retired, it's not all a bed of roses so make sure you have plenty of cash to make it until you croak!

Check out this link or Google Social Security MAGI tables.
https://www.ssa.gov/pubs/EN-05-10536.pdf

 

AZ retiree here. The AZ Medicare Indemnity Plan is not a Medicare supplement plan! READ EVERY PROVISION OF THE PLAN! There is a provision that states if you have a Medicare Advantage Plan or a Part D plan, then your spouse (if covered under the AZ Retirement Insurance Plan) WILL BE DROPPED OFF THE COVERAGE! Don't know your age, but please read the entire plan!

 

Did anyone really thing that AZ would give anything good away to their retirees? AZ would love to never have to give any retiree a dime!

 

And they are working their way there. Soon there won't be anyone here long enough to retire.

 

Plenty of us here with 20 years in. We plan on riding this into retirement in another decade with fully paid medical. Long live Astra.

 

#70. You should schedule yourself for surgery to have your head removed from your a$$.

 

You had better read your health benefit plan for retirees again. You should ride it out if you are close to retirement but you had better be prepared to pay for your own health insurance because $25K doesn't last long and they will cancel you on the exact date that you reach your max leaving you without insurance.

 

Once you are eligible for Medicare then go out and purchase your own Supplemental plan. Do not and I repeat do not rely on anything further from AZ. They will charge you about the same premium for crap insurance that they will cancel as soon as you hit the $25K max. You can purchase your own plan with much better coverage for less than AZ charges you for a bucket of shit.

 

AZ plan is 80% less. Don't listen to bad advice.