CHARLESTON, W.Va. (AP) - A federal program that helps employers and unions continue insurance coverage for some early retirees has accepted the applications of nine entities in West Virginia.
The entities include Severstal Wheeling Inc., Fenton Art Glass, and the Teamsters Local Numbers 175 and 505 Health and Welfare Fund. The U.S. Department of Health and Human Services announced their acceptance into the Early Retirement Reinsurance Program on Tuesday.
The program reimburses employers and unions a portion of the costs of medical claims for early retirees age 55 and older who aren't yet eligible for Medicare. Reimbursements also are given for claims for spouses, surviving spouses and dependents.
I see stuff hitting the news about this..This is another thing Obama has done to help out union members, for those who think he does nothing..which is BS he has done a few things which are good for unions and this is one...check out the list of who benefits, companies and unions and such in the link in there..UPS is in there and a bunch of Teamster Locals.
ing health care costs have made it difficult for employers and unions to provide quality, affordable health coverage for workers and retirees while also remaining competitive in the global marketplace. The percentage of large firms providing workers with retiree health coverage dropped from 66 percent in 1988 to 29 percent in 2009.1. Many Americans who retire before they are eligible for Medicare without employer-sponsored health coverage see their life savings disappear because of medical bills and exorbitant rates in the individual health insurance market. Health insurance premiums for older Americans are over four times more expensive than those for young adults,2, and the deductible these enrollees pay is, on average, almost four times that in a typical employer-sponsored insurance plan.3
The $5 billion federal program is a temporary insurance plan for people age 55 and older who retired before they were eligible for Medicare and intended to get health insurance through their former employers.
The program is part of the Obama administration’s health care reform plan and will provide financial aid to employers so they can provide coverage for early retirees. The program will expire in 2014 once state insurance exchanges are established.
Companies and agencies in San Diego that have been approved for the program so far include the Carlsbad Unified School District, city of Escondido, San Diego County Teamsters-Employers Insurance Trust, San Diego County Employees Retirement Association and the San Diego Transit International Brothers of Electrical Workers 465.
Re: SanDiego Teamsters And Early Retirement Program
For those who think Obama and the universal healthcare is no good and he does nothing for Teamsters..look again. This is another benefit for us.
Health and Human Services Secretary Kathleen Sebelius announced Tuesday the first 2,000 employers and unions nationwide, including several in San Diego County, that have been approved for federal subsidies to provide health care for early retirees.
Re: Affordable Care Act Early Retirement Reinsurance Act
I also saw Local 705 in there but here are some others:
Teamsters & Employers Welfare Trust of Illinois
Teamsters 206 Employers Trust
Teamsters and Food Employers Security Trust Fund
Teamsters Benefit Trust
Teamsters Health & Welfare Fund Local 377
Teamsters Health Services & Insurance Plan Of Local 404
Teamsters Local 170 Health & Welfare Fund
Teamsters Local 631 Security Plan for Southern Nevada
Teamsters Local 641 Welfare Fund
Teamsters Local Nos. 175 & 505 Health & Welfare Fund
Teamsters Local Union #348 Health & Welfare Fund
Teamsters Local Union No. 671 Health Services and Insurance Plan
Teamsters Local Union No. 856 Health and Welfare Trust
Teamsters Medicare Trust for Retired Employees
Teamsters Miscellaneous Security Fund
Teamsters Security Fund for Southern Nevada
Teamsters Union 25 Health Services & Insurance Plan
Teamsters Union Local No. 52 Health & Welfare Fund
Re: Retiree Insurance Program Acccepts W. Va. Teamsters
Thanks Slave. I now have a purpose in life. I quick looked at this program and it would appear that it can be used for reimbursement for Claims, Premiums, or both. It would seem that it is up to the reciprocant on how it is used. I checked and MCTWF (my fund) is a participator and have inquired if the have any plans to lower premiums because of this act. Now all I need to do is keep shaking the bushes until I get someone higher up's attention. Anybody else that can, needs to inquire about it also. My next move, depending on what I hear, is contacting my Gov Reps to ask why this is not being used for our benefit. The "wheels" start off slowly, I will post anything I hear.