Thread regarding Bank of New York Mellon Corp. layoffs

tx

Uh... when I turned 65, I enrolled in Medicare Part A (hospital, “free”) but delayed other parts and SSI. My plan was to work until 70 and then enroll in the rest.

For a large employer like BNY, the employer health plan takes priority over Medicare anyway.

Note that Medicare has different rules for smaller employers.

The annual Medicare & You book has lots of info, and you can find info online at medicare.gov.

Warning: just be careful what you do. You can be penalized for delays, and it can be hard to undo something you started. Good luck!

Sorry for the typos in previous post... phone typing... Anyway Part D you have 2 months after the month "creditable" d–g ends. Our plans have creditable coverage. I think there is statement BNY puts out yearly to this effect. I have not done this yet so not sure the mechanics on part D. Note for Part B's 8 month special enrollment, i.e. you are still working when you turn 65, you need to get a form from Bny that validates employment end date and that you were covered by health insurance. Just call the benefits line and they send ou. Bring with you to SSA office when you apply

This is website with info on mrdicare. Here is link to the page with some Part D special enrollment circumstances:

https://www.medicare.gov/sign-up-change-plans/when-can-i-join-a-health-or-d–g-plan/special-circumstances-special-enrollment-periods

"Your chance to join lasts for 2 full months after the month your [creditable] coverage ends."

There is no retiree health benefit. You enrill in Medicare, In fact yiu need to be careful and not wait to avoid penalties tgat get added to premiums once yoi do start, if you you miss the enroillent period. If you are still working when you turn 65 then you must enroll in Medicare part B within 8 months of when you stop working. If you turn 65 after yiu stop working then you must/can enroll within yiu initial enrollment period whuch is 7 months starting 3 months before month you turn 65...
Note, does not matter if yiu are covered under suplemental/severance plan, just that you are unemployed. Note if you had HSA you need to stop contrubutions 7 months prior to signing up cause part A retro starts 6 months before month you sign up and you cannot have hsa contributions and medicare or they penalize your hsa forever unless you get those returned in the year you contributed.. So timing gets tricky.
Part D signup also has penalties but you can delay that as long as you have comparable coverage. Once that stops believe you have 60 days to sugn up for D. But check that... I am not professionaal though so do your own checking, just letting you know what i found.

This doesn’t look like a retire guide, but the usual benefits guide they distribute before open enrollment for active employees. This version was sent out in 2016, for 2017 benefits.

The only part I saw for former employees was on page 24:

If You Leave BNY Mellon

If you leave BNY Mellon, your benefits coverage will continue through the end of the month in which you end employment or, if later, the last day of the month in which you are receiving supplemental unemployment benefit payments pursuant to the BNY Mellon Supplemental Unemployment Benefit plan or under a severance arrangement as determined by BNY Mellon. Under federal law, you and your eligible dependents may be entitled to continue your medical, dental, vision, HRA, and Health Care FSA coverage. Within three weeks of your termination, you should receive a termination packet describing this information in detail. For more information, or if you do not receive a termination packet, see “COBRA Rights Notice – Health and Welfare Benefits” on page 87 or call the BNY Mellon Benefit Solutions Service Center at 1-800-947-HR4U (4748), option 2, Monday through Friday, 8:30 a.m. to 8 p.m. Eastern Time.

Thanks! but that is for 2017, and since then they dropped HRA from their active employee choices, so I am wondering if that is still a choice for retirees. Nisnthere a more recent retiree guide?