Affordable Care Act Early Retirement Reinsurance Program

**2631** · 09-01-2010

I also called the hall after reading slave's link. I was directed to the welfare fund's administrator who (of course) was in a meeting. I left a detailed message and await his call.

**2631** · 09-01-2010

Originally Posted by 2631

I also called the hall after reading slave's link. I was directed to the welfare fund's administrator who (of course) was in a meeting. I left a detailed message and await his call.

I got a call back from the fund administrator and he said that our fund had already applied to the program. He said that it is a good program and that it is a win win situation for the funds. It costs the unions, companies etc nothing and that they will be reimbursed up to 80% of the medical costs for retiree's medical expenses in the $15,000- $90,000 bracket.

The reimbursements may be used to build up the funds and to lower retiree's insurance premiums.

**wolf** · 09-01-2010

Did he give any indication that it might be used to help with premiums or will it all be used for the "build up"? You must have a good administrator to hear back already.

**x475** · 09-01-2010

I merged this threads since they were basically the same topic (at the suggestion of Wolf)
Since this should be a popular topic I will sticky for a while
X475

**2631** · 09-01-2010

Originally Posted by wolf

Did he give any indication that it might be used to help with premiums or will it all be used for the "build up"? You must have a good administrator to hear back already.

No he didn't because he said that it probably wouldn't have much effect on our fund. He said that we don't have many retiree medical claims above the$15,000 threshold

Yes he does a very good job. I have asked him questions at the union meeting and he has always given me straight answers. But I was surprised that he returned my call so fast.

**wolf** · 09-01-2010

Originally Posted by 2631

No he didn't because he said that it probably wouldn't have much effect on our fund. He said that we don't have many retiree medical claims above the$15,000 threshold

Yes he does a very good job. I have asked him questions at the union meeting and he has always given me straight answers. But I was surprised that he returned my call so fast.

I would imagine that will be the story, and it very well may be true. At least it might deter the yearly premium increase I've been seeing.

**2631** · 09-01-2010

Originally Posted by wolf

I would imagine that will be the story, and it very well may be true. At least it might deter the yearly premium increase I've been seeing.

Since I will start paying COBRA next month I was hoping for a different answer. As of today my monthly insurance payment for my wife and I will be $1086. But I was told that it will be going up.

**mudflap560** · 09-01-2010

Originally Posted by 2631

Since I will start paying COBRA next month I was hoping for a different answer. As of today my monthly insurance payment for my wife and I will be $1086. But I was told that it will be going up.

2631, if your plan at 560 is the same as we had in carhaul, a comparable plan at Horizon BCBS will cost you right around $3000 per month as an individual plan for husband and wife.

**2631** · 09-01-2010

Originally Posted by mudflap560

2631, if your plan at 560 is the same as we had in carhaul, a comparable plan at Horizon BCBS will cost you right around $3000 per month as an individual plan for husband and wife.

Yes you are correct. But at 1 time we had very affordable retiree coverage. Back when Red Star shut down in May 2004 it was only $400 a month for a retiree & spouse. By August 2004 it jumped up to $1200. Management trustees wanted to drop retirees completely but compromised by having retirees paying the full rate. So now we are required to pay exactly what the company pays for active employees.

But 560 has a plan that allows eligible retirees at age 63 to purchase medical ins. under the COBRA at half price for 18 months. That is why I waited for my 63rd birthday before retiring.

**slavenomore** · 09-01-2010

Originally Posted by 2631

Yes you are correct. But at 1 time we had very affordable retiree coverage. Back when Red Star shut down in May 2004 it was only $400 a month for a retiree & spouse. By August 2004 it jumped up to $1200. Management trustees wanted to drop retirees completely but compromised by having retirees paying the full rate. So now we are required to pay exactly what the company pays for active employees.

But 560 has a plan that allows eligible retirees at age 63 to purchase medical ins. under the COBRA at half price for 18 months. That is why I waited for my 63rd birthday before retiring.

If only our pay could go up $800 in 3 months...I'm in the wrong racket.