Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
I don't get your point here. Employer provided retiree coverage doesn't effect what that retiree gets from Medicare in the way of payments on their health care costs. Retiree coverage provided by companies almost always drops to a supplement to cover what Medicare doesn't. Medicare never has paid the full cost and it still won't with the new health care bill.
It was for prescription drugs and part of the 2003 Prescription Drug Modernization Act.
And yes it did effect medicare. The government gave corporations (3500 of them) subsidies and tax credits to keep their retirees in their plan while giving them the same priced as the medicare part D. They did that to prevent a surge of people moving over to medicare to get the better prices on prescription drugs.
The current HC bill removes that credit. Still gives the subsidy though but not the credit. So now corporations will have to pay tax on that subsidy.
For some that's quite a substantial amount.
I don't get your point here. Employer provided retiree coverage doesn't effect what that retiree gets from Medicare in the way of payments on their health care costs. Retiree coverage provided by companies almost always drops to a supplement to cover what Medicare doesn't. Medicare never has paid the full cost and it still won't with the new health care bill.
The point is that because of losing the tax-free subsidy per the HCR bill, corporations will shift their retirees into Medicare instead of continuing to provide private prescription coverage for them. The Medicare prescription coverage will cost the government much more than the partial tax-free subsidy they were paying corporations to provide private prescription coverage.
The WSJ published an explanation of this in January: "When the Medicare prescription drug benefit was created in 2003, one concern was that businesses that provided private drug coverage for seniors would dump them into the new taxpayer-funded plan. SoCongress created a modest tax subsidy—equal to 28% of the total cost of a drug plan—to encourage employers to maintain coverage for retirees who would otherwise enroll in Medicare. On average, this subsidy will cost the government about $665per person in 2011, according to the Employee Benefit Research Institute, while the same Medicare coverage would run about $1,209." How Obamacare Will Cost Many Seniors Their Private Drug Insurance - WSJ.com
The HCR bill scrapped the $544 ($1,209 - $665) the government was saving per senior.
It was for prescription drugs and part of the 2003 Prescription Drug Modernization Act.
And yes it did effect medicare. The government gave corporations (3500 of them) subsidies and tax credits to keep their retirees in their plan while giving them the same priced as the medicare part D. They did that to prevent a surge of people moving over to medicare to get the better prices on prescription drugs.
The current HC bill removes that credit. Still gives the subsidy though but not the credit. So now corporations will have to pay tax on that subsidy.
For some that's quite a substantial amount.
If the government stops feeding them tax-money they have two choices:
1. Pay it themselves. If they promise all these incentives to their empoyees, then why should the tax-payer pick up the tab?
The promise was based on the cost-sharing arrangement with the government. Obama's and the Dems' HCR bill cancels the cost-sharing arrangement, so the government gets to pay the full cost of the seniors' prescription coverage through Medicare, as originally legislated.
Dunno. The libs seem to think we're getting upset over this for no reason but they provide no insight themselves as to what may happen or why they think corporations will absorb this and continue to operate BAU.
I think more will be moved over to medicare and let the government handle the subsidy 100%.
CAT lost 75% profit last year and revenue was down 37%. With companies not making profit and losing revenue for the past 3 years I don't see how they will accept this move. Their option to drop retiree drug subsidy is a logical, sound business move for them.
Did you see how big the bill is???
They don't even KNOW what they voted in and we probably never will either.
We will find out some of it though and here is my question:
How many companies will have to LAY OFF employees because of this bill?
Oh boy, we have healthcare! UMMMM no job though, but YEAAAAA!
Watch Fox news and you will know what we have learned.
I am very worried about this.
I just know that if my boss goes under then I go under with her.
I will be worrying about my grown children who are teachers and all of us having a place to live and food to eat.
When the state goes under, how many people are going to lose their jobs?
The states HAVE NO MONEY!
EYOW!.. Your boss is not the answer, nor is she as powerful a Beayatch has she has psyched you into believing.
Fox Neuter is phony psycho B.S. It is not news. It is yellow journalism. Scratch that, it is yellow propaganda. Yellow as in Chicken S#it.
Nothing personal toward chickens., they being some of the best Fowl friends I got. Just do not tell my Beefy pals.
These days them Cow types got their own Beefed up lobbies too. Probably seen it..."Eat mor chikin". Well, at least dey R trying.
Change the channel. Flip to the new, or at least to the news. Shift gears. Or, does your boss lady control that also? If so, double clutch her, or learn to power shift.
With this new bill, you no longer have to stay with your boss for the threat of losing your health care coverage.
Good start huh.
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
