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Posted on 03/25/2010 10:25:48 AM PDT by pabianice
Just announced on Fox. One of the first "benefits" of Obamacare is news that companies with large populations of retirees that now have health insurance through their former employees will, instead, be dumped and forced onto Medicaid and Medicare. The resulting fines for the companies will be far less than continuing to pay for retirees' medical care. It's all allegedly legal under ObamaCare.
Non-union retirees get their coverage under corporate benefit plans, which are non-contractual. The retirees who have to worry the most are those whose former employers subsidize their coverage. Those subsidies are likely to disappear. The company may then still offer the coverage, but the retiree will pay full freight.
Lucent also was on the verge of bankruptcy several years ago, as I recall.
I’m sure there is something in the health care bill that will make sure the taxpayers have to cover THOSE PEOPLE.
More hogs at the public trough is to the Democrats’ perceived interest, i.e. move votes.
Actually, Stacy from Atlanta indicated that the change in required reserves and immediate impacts of new patient loads without increased premiums would put them out of business. Stacy and others in her field are looking for a new line of employment because the insurance business is about to implode.
Just wait until they see all the people who quit working now (they worked to get company health insurance) and start drawing off SS.
any links yet to original statements on fox?
To discourage attrition and provide an additional benefit as part of its total wage basket to attract labor.
These reactions are not unexpected by the administration. They know exactly what the 'market response' to their healthcare bill is and they are going to use these reactions to further their takeover.
That is not true. Federal employees only get Part A and have a right to reject Part B and keep their Federal Employees Health Benefits which then pays what Medicare would pay doctors.
“I’ve have never understood why a business would pay for retiree’s healthcare.”
Because for 70 years now, people can’t think of healthcare without employment or employment without healthcare.
Pelosi issues a tough warning to health insurance companies
March 24, 2010
A few Democrats have expressed the fear that health insurance companies might try to ram through stiff rate hikes between now and November and blame the higher costs on the health care bill. After all, insurers fear having their profits trimmed if they will no longer be able to dump their customers when they get sick.
House Speaker Nancy Pelosi has a warning to health insurers who try to ram through rate hikes: Don’t do it.
Speaking to a dozen or so columnists a yesterday, Pelosi warned that insurance companies that gouge their customers won’t be allowed to participate in the new insurance exchanges that will become available. Those exchanges hold the potention for millions more customers, so insurers will want to be able to participate.
“Unless they do the right thing,they’re not going in,” Pelosi said. The new health care reform law allows the fed to regulate the insurance exchanges.
Well, gee, Nancy said we would have to pass it to see what’s in it. They certainly weren’t going to post it online for days/weeks ahead of time as promised.
OK, we see it, we don’t like it. How do we get rid of it before it is too entrenched to remove?
Contracts? Ask the bond holders of GM what a contract is worth. Ask the GM and Chrysler dealers. The Obama commies will ignore any contract that gets in the way of their agenda.
Don’t know about union retirees, but a lot of companies offered early buy-outs during the last two to three years in order to reduce their expenses, among them oil companies and some in the telecommunication indutries. So there are a lot of folks in their 50’s out there who might be affected by this - and they are not old enough for Medicare. Interesting scenario.
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