RETIREE HEALTH BENEFITS

 

Health Benefits for retired Verizon employees are generally excellent. The health plans are the very same ones you now have as active employees. But there are complications and out of pocket premium expenses that you should expect in retirement. Below is a list of the percentage of a base premium that Verizon currently pays for your health insurance. At retirement, you pay the rest in the form of a premium. As the cost of your health insurance rises at Verizon, you will bear a larger share of the total. Therefore, your out of pocket premium will rise fairly fast. For instance, some of your clients who paid $50 a month the first year have seen that increase to $100 a month and more after just a couple of years.


There are 6 to 8 different health plans. When you are close to retiring there is a simple strategy for learning how much you will have to pay under each plan. You can change once a year and you can cover a spouse and dependents for additional premiums.


CRAFT

Years of services
Verizon Pays (%)
Less than 10 years
0%
10 – 14yrs
20%
15 –19yrs
40%
20 – 24yrs
60%
25 – 29yrs
80%
30 or more years
90%

 

MANAGEMENT

Due to recent changes in retirement benefits we recommend you contact us for information.