COMARA - COMSAT Alumni & Retirees Association - Apr 14, 2015

Update on Lockheed Martin Medical Coverage Developments

I wanted to share a quick update on developments related to the LM changes in medical coverage for Medicare-eligible retirees. Rich Lustig, on behalf of COMARA, had a meeting recently with Mike Bradley, his successor at Lockheed Martin, to review the many questions and open issues that have arisen. His summary of the outcome of the meeting is provided on the COMARA website. I think in general the information that Rich has obtained is extremely helpful and certainly clarifies a lot of what has happened.

On particular note, there is now a better explanation of the derivation of the $3000 figure used for the HRA for COMSAT retirees who have been getting medical coverage from LM previously, and the $3900 figure used for those members of the class of 1983 with respect to continuity for those who had been promised coverage with no cost. A separate issue had arisen with respect to certain retired senior executives, and Rich was successful in getting that situation clarified as well.

Also, he was able to reconfirm that these developments in no way affect LM's maintenance of the life insurance for retirees.

I want to expressly thank Rich Lustig for all of his work and effort in this regard, as well as the excellent results that he has obtained. COMARA definitely owes him a debt of gratitude.

If anyone has any questions, please direct those to benefits.info@comara.org.

Regards,
Maury Mechanick

Report from Richard Lustig about LM Medical Meeting

My meeting today went very well with Mark Bradley and here's the topics we covered:

  1. Determination of $3,000 as the equivalent amount for current LMC coverage.
  2. Determination of $3,900 as the equivalent amount for current LMC coverage (grandfathered groups, no contributions).
  3. SERP participants that receive medical with no contribution required.
  4. Continuation of COMSAT/LMGT retiree dental.
  5. Verification that COMSAT/LMGT retiree life insurance is unchanged.

View the full report from the Benefits section and in two associated reports [pdf]:

2015-COMARA-Update-on-Health-Care-Retirement-Benefits

2015-LMC_HRA-Insert-Dental_LHD5_FINAL.pdf


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