Retiree Health Care
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Medicare Beneficiaries Face Boost in Out-Of-Pocket Expenses
Medicare beneficiaries will face higher out-of-pocket expenses next year, according to the U.S. Department of Health and Human Services.
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Guidance on Health Reform Law's Transitional Reinsurance Program Requested
Many questions remain unanswered about the Transitional Reinsurance Program, the Washington-based benefits lobbying group noted in a letter sent this month to the U.S. Department of Health and Human Services, which will enforce the program.
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Medicare Heats Up Biden-Ryan Debate
The Medicare segment of the debate included some of the most frequent interruptions by both Vice President Joe Biden and Republican vice presidential candidate Rep. Paul Ryan (R-Wisconsin) in a testy debate as each took turns bashing the other side's impacts on the program.
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Health Care Premium Increases Ease in 2013 for Federal Employees
The increase for the Federal Employees Health Benefits Program is down from this year's 3.8 percent average increase and sharply lower than 2011, when premiums rose by an average of 7.3 percent.
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Health of Long-Term-Care Business Questionable: Report
The field of long-term-care insurance providers is shrinking as companies exit the business or limit their sales. Of the 15 companies that generated the most statutory earned premiums for long term care insurance in 2010, five either no longer sell the product or have curbed sales.
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Obama Sees Election as Referendum on Reform
President Barack Obama accepted his party's nomination for another term by framing the election as a choice over whether voters value his signature healthcare law, among other policies.
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Health Care to Take Center Stage at DNC
The night of September 4 will feature some of the highest-profile defenders of the law, including first lady Michelle Obama and HHS Secretary Kathleen Sebelius.
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Repeal and Replace Health Care Reform Law: Romney
Republican presidential candidate Mitt Romney called for a repeal of the Patient Protection and Affordable Care Act during his speech at the Republican National Convention August 30.
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Reform Law is Biggest Threat to Medicare: Paul Ryan
As chairman of the House Budget Committee, Ryan drafted budgets for fiscal years 2012 and 2013 that include plans to overhaul the nation's federal healthcare entitlement programs through a premium-support model for Medicare and block grant payments to states for Medicaid.
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GOP Platform Includes Repeal of Health Care Reform Law
As expected, the Republican Party promises massive changes to the Medicare and Medicaid programs if former Massachusetts Gov. Mitt Romney and Rep. Paul Ryan (R-Wisconsin) are elected president and vice president.
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Michigan Teacher Funding of Retiree Health Benefits Violates Employment Rights: Court
The law ran afoul of protections against impairment of government contracts because teachers received three percent less in pay by paying into a fund than the amount the teachers and their employers agreed upon as part of teachers' contracts.
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Benefits Group Asks for Exemption of Retiree Health Plans From Health Reform Law Fee
Subjecting retiree health care plans to the fee 'may lead employers to cease offering this very valuable benefit, particularly since such coverage would likely become more expensive by virtue of the application of' the fee, the American Benefits Council stated recently.
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American Airlines Asks to End Retiree Health, Life Benefit Coverage
The airline and parent company AMR said they never promised to provide benefits for life and reserved their rights to modify the plans.
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Supreme Court Upholds Health Care Reform Law
The U.S. Supreme Court ruled that the Patient Protection and Affordable Care Act is constitutional, handing President Barack Obama a major election-year victory and shunning 26 states that had sought to overturn the reform law.
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U.S. Awaits Supreme Court's Ruling on Health Care Reform Law
Three months after the justices heard oral arguments on a challenge to the Patient Protection and Affordable Care Act by 26 Republican state attorneys general, the high court will rule sometime next week as its 2011-2012 term comes to a close.
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Study: Couple Retiring in 2012 Needs $240K to Cover Medical Expenses
Of the $240,000 needed to cover a retired couple's health care expenses, Fidelity estimates 32 percent will go toward paying Medicare Part B and Part D premiums; 45 percent will be consumed by expenses not covered by Medicare; and 23 percent will be spent on out-of-pocket prescription drug expenses.
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Early Retiree Health Care Plan Sponsors Have to Dec. 31, 2014, to Use ERRP Funds
Under the ERRP, early retiree health care sponsors are reimbursed for 80 percent of claims—up to $90,000—after a participant incurs $15,000 in expenses.
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Biggest Expense for Americans Over 50? Not Health Care
Out-of-pocket costs on drugs and medical insurance are the second most costly item for older folks.
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Michigan Unions Sue to Halt Mandated DB-or-DC Choice
A Michigan law requiring state employees to either contribute 4% of pay to the $9.
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American Airlines Wants to Terminate Pension Plans
The termination, if approved, would shift billions of dollars of promised but unfunded benefits to the Pension Benefit Guaranty Corp., resulting in the biggest loss ever for the agency.
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Boomers Roll the Dice, Skip Meds to Make Ends Meet
Falling investment returns, rising costs of necessities has pre-retirees cutting back on prescriptions and skipping doctors' appointments, study finds.
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IRS Issues Guidance on Reporting Health Cover Costs on Employees' W-2s
The latest information makes clear that employers can—but are not required to—report contributions to health reimbursement arrangements in calculating health care costs.
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Survey Set for Employers on How They Used Early Retiree Reimbursement Funds
Under the $5 billion Early Retiree Reinsurance Program set up as part of the health care reform law, approved plan sponsors have received partial reimbursement of claims they have paid.
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Report: Governmental Entities Benefit Most from Early Retiree Program
Federal agency says of the more than $2.7 billion that was paid out through June 30, 45.6 percent went to governmental entities while 36.6 percent went to commercial entities, such as self-funded private employers.
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President to Sign Bill Increasing Health Insurance Subsidies for Certain Workers
President Barack Obama on Oct. 21 will sign trade legislation that also will boost federal health insurance premium subsidies for employees who lose their jobs because of foreign competition and older retirees in failed pension plans, the White House announced Oct. 18.
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Health Care Cost Hikes Increasing, Expected to Continue
The key difference between the Kaiser Family Foundation and Aon Hewitt surveys is that the KFF survey included more fully insured plans, 40 percent, and more small and midsize firms, 85 percent, with fewer than 5,000 workers.
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UAW-GM Contract to Create or Retain 6,400 Jobs
General Motors has agreed to retain or create 6,400 jobs as part of $2.5 billion in planned product and plant investments under a new labor accord with the UAW.
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Labor Department Weighs New Definition of Fiduciary
For the first time in 35 years, Labor Department officials are exploring whether they should change the definition of ‘fiduciary’. The agency wants to make the change so it can better protect the rights of participants, but the benefits community doesn’t see it that way.
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Recession's Effect on Local Governments Public Problems Persist
'This recession has really cut into the public sector, not only in employment but in terms of pensions and health care benefits and every form of compensation,' an expert says.
