FDX27Pilot - I emailed ALPA contract specialists on the retirement health care several months ago and this is what I got:
1) all pilots who had a seniority number on 8/25/06, who had attained
age 53 before January 1, 2007 and who were expected the meeting age and
service requirements for coverage under the Retiree Group Health Plan on
their attainment of age 60 or older were eligible for an HRA. Pilots
who met these eligibility requirements had $25,000 deposited into a VEBA
trust fund on 1/22/07 and is available to pilots beginning at age 59 provided they are retired. This money continues to be available past age 65. If
the pilot should die, the money is available to his spouse. Any monies
remaining in the account after the pilot and spouse have died is
forfeited. The funds are being managed by Putnam Investments and are invested in a Money Market fund. These funds will be available on the later of the pilot's retirement date or age 59. The funds can only be used for reimbursement of a pilot's and his eligible dependents' out-of-pocket eligible health care expenses, e.g. monthly health premiums, co-pays for office visits and prescriptions drugs, Medicare Parts B, C, and D premiums.
No provisions were made in this contract for pilots under age 53.
2) the $43.2 million was contributed into a separate VEBA for
supplementing pilots' cost for post-65 medical coverage which will be
managed by an ALPA VEBA Board. This is separate from the $25,000
contributed to the above group of pilots. The Company will continue to
fund this VEBA by contributing 50 cents for each paid credit hour for
each pilot having a seniority number
So yes they both use the term "VEBA" but are very different separate animals . I really hate posting inaccurate info too.
FLYNLOW - I'm not seeing any real positives to the change in health care insurance plans. I live in a fairly large area and I fully plan on staying with the same doctor I'm with now. The only changes are my premiums will more than double in 2008 and my copays will go up. Check with your buds at the other carriers - we are, without a doubt, far worse than UPS and SWA and maybe one of the worst health care coverages in the industry among majors.
What were the specific changes in the A plan? When I asked if we would put a similar paragraph in the contract about tying our A fund to management's A fund (much like UPS put in theirs) I got the answer that "oh, that's already in there - it's not in writing but trust us it's in there". Maybe true but I'd love to read it - so please put down the verbiage that tightened it for us.