MaydayMark

I'm certain that my ALPA LTD will stop when I turn 60. This past November I received a letter from Aetna saying that I would continue to receive benefits until I turned 65. I called ALPA benefits and they said that was wrong. A few days later I received an updated letter from Aetna apologizing for their mistake.

Some people I've spoken with "think maybe" we received a letter offering to extend benefits until age 65. I have yet to speak to anyone that remembers receiving said letter?

Fortunately, my Naval Reserve retirement pay starts the day I turn 60. In one of the many LTD lessons learned (although not strictly LTD related), it turns out that it's now taking Millington (Navy Personel Command) & Cleveland (Navy Pay Land) MONTHS to complete USNR retirement paperwork. For all of you future retirees, make sure to start the process early. Maybe 6 months early ...

MelT

I will have to double check on that on Tuesday then. My insurance description says: "LTD - FedEx (12 months wait - age 65)". But of course that is off the ALPA site. I need to check to see if I have the actual policy in writing and if not need to call Aetna to confirm. That would make a huge difference obviously on whether or not you purchase the insurance.

MelT

The rates actually went down in Apr 2016, after an increase in Jan 2016. So the rates have changed in the past, and could again in the future. Also of note is the fact that the letter states that the benefits go to age 65. Info from a letter from the R&I Chair earlier this year:


March 29, 2016
Re: FDX MEC Supplemental Long-Term Disability Plan—Aetna Policy # 863177
The ALPA FedEx Master Executive Council (MEC) has implemented a rate change to the FDX MEC Supplemental Long-Term Disability (LTD) program that went into effect January 1, 2016. The initial renewal rate increase was nearly 20 percent; however, we have been able to adjust the administrative fees that are included in the rates as of April 1st. The adjustment results in a small decrease for most participants and a small increase for others on top of the renewal rate increase.

FDX MEC LTD Plan:

12-Month Qualifying Period and Benefit Duration to Age 65:

Jan 2015 Rate: $0.604
Jan 2016 Renewal rate: $0.721
Revised Rate Apr 1 2016: $0.685
Admin Flat Fee: $6.42


24-Month Qualifying Period and Benefit Duration to Age 65:

Jan 2015 Rate: $0.355
Jan 2016 Renewal Rate: $0.424
Revised Rate Apr 1 2016: $0.403
Admin Flat Fee: $6.42

HIFLYR

The ALPA one unique to FedEx pays to 65 I know someone who is used it and was paid until 65.

BlueMoon

New pilots might just be starting to pay premiums as there is a 6 month waiting period to enroll after you are hired (also I think you get 90 days after your 6 month mark to sign up without having to provide insurability proof). So maybe not that many have signed up yet?

busdriver12

^^Maybe so, BlueMoon.

MaydayMark

I'll pay you to make my paperwork say that I'll be covered until 65 ... deal?

pinseeker

Mark,

Which plan are you on, the ALPA plan or the FDX MEC plan?

MaydayMark

I'm not aware of both an ALPA plan and an MEC plan. I think they're different terms for the same LTD policy? To the best of my knowledge I'm collecting a FedEx (Corporate) LTD policy and an ALPA LTD policy.

I'm presently collecting BOTH of them but the ALPA (MEC) Aetna policy is scheduled to terminate when I turn 60.

I'd LOVE to hear folks suggestions about how I can continue to collect past 60 as it's tax free income. Does anyone have suggestions on how to speed up my Naval Reserve Retirement paperwork? It shouldn't take 6 months to process!

The Walrus

Did you go on LTD before the age 65 change?