| Last
update: 7/23/09
New
Subsidy Schedule for Retirees and New Contribution Rates
effective October 1, 2008
June
2008
Dear
TeamstersCare Retiree,
Each
year, the Fund reviews the costs of providing medical and prescription
drug coverage to our TeamstersCare retirees. While TeamstersCare
continues to pay the majority of the cost for your healthcare
program, we ask that you share some of the cost of your benefits.
Retiree member contributions are directly related to the cost
of health care and, unfortunately, the cost of providing retiree
coverage to our members has increased over the past year. As
a direct result, for the first time since 2005, the Fund has
no choice other than to raise the amount you’re being
asked to contribute to your Plan.
The
good news is that although the rates have been calculated and
new rates normally take effect each July, the Trustees
have authorized a deferral of the required increase until October
1, 2008. This means that TeamstersCare will increase
the amount it pays to subsidize your retiree benefits for the
months of July, August and September.
Please
see the new contribution schedules. Each schedule shows the
amount that a retiree member currently pays, based on retirement
date, age and years of service, and the amount that you will
need to pay effective October 1, 2008.
If
you entered the TeamstersCare Early Retiree Program on or before
April 1, 2002, see Schedule I; if you entered the TeamstersCare
Early Retiree Program after April 1, 2002, see Schedule II;
and if you are age 65 and over and in the TeamstersCare Retiree
Prescription Drug Program, see Schedule III to determine your
monthly contribution amount.
Around
September 15, TeamstersCare will send out invoices for the
new monthly contributions. You will not receive an
invoice if you’ve authorized the Fund to deduct your
retiree contribution directly from your pension check. The
amount of your check will be adjusted automatically.
If
you have any questions about your contribution or would like
more information about the TeamstersCare Retiree Programs,
please feel free to call Charlestown Member Services.
Thank
you,
Your TeamstersCare Staff
Retiree
Member Monthly Contributions
all amounts effective October 1, 2008
EARLY
RETIREE TEAMSTERSCARE MEDICAL PROGRAM
person = member, spouse, or dependent
maximum cost per family: $958 per month
Schedule
I - Under Age 65—retired on or before April
1, 2002 |
Age |
Your
current contribution amount |
Your
contribution
effective Oct 1, 2008 |
under
age 60 |
$431
per person |
$479
per person |
age
60 thru 64 |
$108
per person |
$156
per person |
Schedule
II - Under Age 65—retired after April 1,
2002 |
Retirement
Age |
Years
of Credited Service at Retirement |
15-19
Years |
20-24
Years |
25-29
Years |
30+
Years |
Your
Current
Per Person Cost |
Your
Cost
as of
Oct 1, 2008 |
Your
Current
Per Person Cost |
Your
Cost
as of
Oct 1, 2008 |
Your
Current
Per Person Cost |
Your
Cost
as of
Oct 1, 2008 |
Your
Current
Per Person Cost |
Your
Cost
as of
Oct 1, 2008 |
Under
55 |
N/A |
N/A |
N/A |
N/A |
N/A |
N/A |
$431 |
$479 |
55-56 |
N/A |
N/A |
$431 |
$479 |
$431 |
$479 |
$431 |
$479 |
57-59 |
N/A |
N/A |
$431 |
$479 |
$383 |
$431 |
$308 |
$356 |
60-64 |
$431 |
$479 |
$408 |
$456 |
$358 |
$406 |
$208 |
$256 |
RETIREE
TEAMSTERSCARE PRESCRIPTION DRUG PROGRAM
includes TeamstersCare Dental & Vision
benefits
your contribution is per person or per couple
Schedule
III - Over Age 65 |
Age |
Your
current contribution amount |
Your
contribution
effective Oct 1, 2008 |
over
age 65 |
$201 |
$219 |
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