3M to dump retirees from medical coverage

[chanel]

3M Co. citing new federal health laws, said Monday it won’t cover retirees with its corporate health-insurance plan starting in 2013.

Instead, the company will direct retirees to Medicare-backed insurance programs, and will provide reimbursement for that coverage. It’ll also reimburse retirees who are too young for Medicare; the company didn’t provide further details.

The company made the changes known in a memo to employees Friday; news of the move was reported in The Wall Street Journal and confirmed Monday by 3M spokeswoman Jackie Berry

3m has 23,000 retirees, many of them likely to be living in Minnesota. They’re also likely to vote in the upcoming midterms, perhaps even more likely now than ever. That won’t be good news for House Democrats in the Minnesota delegation hoping to win a new term in four weeks.

3M to dump retirees from medical coverage Hot Air

Wow. AARP really did sell out their members. Wonder how much they will be profiting at the end of the day.

 

[rightwinger]

No company today wants to be in the healthcare business. It is a long term drain on their bottom line. More reason why we need a strong Government Option to cover the millions of workers who will be dumped by their employers in the coming years

 

[CrusaderFrank]

ObamaCare needs to die and be replaced with something along the lines of the Whole Foods recommendations

"The problem with socialism is that eventually you run out of other people's money." —Margaret Thatcher

With a projected $1.8 trillion deficit for 2009, several trillions more in deficits projected over the next decade, and with both Medicare and Social Security entitlement spending about to ratchet up several notches over the next 15 years as Baby Boomers become eligible for both, we are rapidly running out of other people's money. These deficits are simply not sustainable. They are either going to result in unprecedented new taxes and inflation, or they will bankrupt us.

While we clearly need health-care reform, the last thing our country needs is a massive new health-care entitlement that will create hundreds of billions of dollars of new unfunded deficits and move us much closer to a government takeover of our health-care system. Instead, we should be trying to achieve reforms by moving in the opposite direction—toward less government control and more individual empowerment. Here are eight reforms that would greatly lower the cost of health care for everyone:

• Remove the legal obstacles that slow the creation of high-deductible health insurance plans and health savings accounts (HSAs).

• Equalize the tax laws so that employer-provided health insurance and individually owned health insurance have the same tax benefits. Now employer health insurance benefits are fully tax deductible, but individual health insurance is not. This is unfair.

• Repeal all state laws which prevent insurance companies from competing across state lines. We should all have the legal right to purchase health insurance from any insurance company in any state and we should be able use that insurance wherever we live. Health insurance should be portable.

• Repeal government mandates regarding what insurance companies must cover. These mandates have increased the cost of health insurance by billions of dollars. What is insured and what is not insured should be determined by individual customer preferences and not through special-interest lobbying.

• Enact tort reform to end the ruinous lawsuits that force doctors to pay insurance costs of hundreds of thousands of dollars per year. These costs are passed back to us through much higher prices for health care.

• Make costs transparent so that consumers understand what health-care treatments cost. How many people know the total cost of their last doctor's visit and how that total breaks down? What other goods or services do we buy without knowing how much they will cost us?

• Enact Medicare reform. We need to face up to the actuarial fact that Medicare is heading towards bankruptcy and enact reforms that create greater patient empowerment, choice and responsibility.

• Finally, revise tax forms to make it easier for individuals to make a voluntary, tax-deductible donation to help the millions of people who have no insurance and aren't covered by Medicare, Medicaid or the State Children's Health Insurance Program...

Although Canada has a population smaller than California, 830,000 Canadians are currently waiting to be admitted to a hospital or to get treatment, according to a report last month in Investor's Business Daily. In England, the waiting list is 1.8 million...."

Mr. Mackey is co-founder and CEO of Whole Foods Market Inc.

John Mackey: The Whole Foods Alternative to ObamaCare - WSJ.com

 

[topspin]

it's already to late to back track, with big top 100 companies saying they can't afford health care thousands of smaller ones will view it also as a bottom line enhancer.

Public option is all but here already, Obama will cram that one down in his second term.

 

[Trajan]

what happened to you can keep your plan and doctors?

 

[PoliticalChic]

3M Co. citing new federal health laws, said Monday it won’t cover retirees with its corporate health-insurance plan starting in 2013.

Instead, the company will direct retirees to Medicare-backed insurance programs, and will provide reimbursement for that coverage. It’ll also reimburse retirees who are too young for Medicare; the company didn’t provide further details.

The company made the changes known in a memo to employees Friday; news of the move was reported in The Wall Street Journal and confirmed Monday by 3M spokeswoman Jackie Berry

3m has 23,000 retirees, many of them likely to be living in Minnesota. They’re also likely to vote in the upcoming midterms, perhaps even more likely now than ever. That won’t be good news for House Democrats in the Minnesota delegation hoping to win a new term in four weeks.

3M to dump retirees from medical coverage Hot Air

Wow. AARP really did sell out their members. Wonder how much they will be profiting at the end of the day.

Where do we line up to get that apology from the folks who supported this plan...we warned 'em of exactly this.

 

[syrenn]

3M Co. citing new federal health laws, said Monday it won’t cover retirees with its corporate health-insurance plan starting in 2013.

Instead, the company will direct retirees to Medicare-backed insurance programs, and will provide reimbursement for that coverage. It’ll also reimburse retirees who are too young for Medicare; the company didn’t provide further details.

The company made the changes known in a memo to employees Friday; news of the move was reported in The Wall Street Journal and confirmed Monday by 3M spokeswoman Jackie Berry

3m has 23,000 retirees, many of them likely to be living in Minnesota. They’re also likely to vote in the upcoming midterms, perhaps even more likely now than ever. That won’t be good news for House Democrats in the Minnesota delegation hoping to win a new term in four weeks.

3M to dump retirees from medical coverage Hot Air

Wow. AARP really did sell out their members. Wonder how much they will be profiting at the end of the day.

link?


And are you surprised? I am not. Hope and Change in the works.

 

[Greenbeard]

MPR:

In a memo to employees, 3M said the reform law's changes should dramatically improve the individual insurance available to workers who retire before age 65 and their dependents.

In effect, 3M is telling its employees the company won't provide them with health insurance after retirement. But 3M says it will help them pay the cost of getting insurance in the private marketplace -- whether it's a commercial health plan for early retirees or Medicare supplement coverage for those over 65. 3M says under health reform, those options will be at least as good as what the company provides now.

3M confirmed the memo's information, but did not provide any further comment.

Economist Paul Fronstin, who directs the nonpartisan Employee Benefit Research Institute, says 3M is probably the first big company to announce such changes. But he expects more companies will follow, because the new law limits how much premiums can vary based on age and other factors, such as pre-existing medical conditions.

"Employers are looking at that and saying, 'Why do I need to be offering this benefit anymore when my retirees can go out and get something that's actually better for them than what I'm offering," said Fronstin. "They can get something better than what I'm offering them and pay more, or they can buy something that's less comprehensive than what I've been offering and pay less."

3M will replace its current retiree medical plan with a health reimbursement arrangement, where 3M will put money into a retirees individual account. For retirees who are eligible for Medicare, that change will begin in 2013. For retirees under age 65, those changes won't take effect until 2015, a year after news health insurance exchanges will be up and running.

The exchanges will function a bit like online travel sites -- instead of comparing non-stop flights and car rental prices, individuals and small groups will compare health care benefits.

I still remember when greater individual choice and empowerment were things conservatives professed to like. Seems like a very long time ago now.

 

[rightwinger]

MPR:

In a memo to employees, 3M said the reform law's changes should dramatically improve the individual insurance available to workers who retire before age 65 and their dependents.

In effect, 3M is telling its employees the company won't provide them with health insurance after retirement. But 3M says it will help them pay the cost of getting insurance in the private marketplace -- whether it's a commercial health plan for early retirees or Medicare supplement coverage for those over 65. 3M says under health reform, those options will be at least as good as what the company provides now.

3M confirmed the memo's information, but did not provide any further comment.

Economist Paul Fronstin, who directs the nonpartisan Employee Benefit Research Institute, says 3M is probably the first big company to announce such changes. But he expects more companies will follow, because the new law limits how much premiums can vary based on age and other factors, such as pre-existing medical conditions.

"Employers are looking at that and saying, 'Why do I need to be offering this benefit anymore when my retirees can go out and get something that's actually better for them than what I'm offering," said Fronstin. "They can get something better than what I'm offering them and pay more, or they can buy something that's less comprehensive than what I've been offering and pay less."

3M will replace its current retiree medical plan with a health reimbursement arrangement, where 3M will put money into a retirees individual account. For retirees who are eligible for Medicare, that change will begin in 2013. For retirees under age 65, those changes won't take effect until 2015, a year after news health insurance exchanges will be up and running.

The exchanges will function a bit like online travel sites -- instead of comparing non-stop flights and car rental prices, individuals and small groups will compare health care benefits.

I still remember when greater individual choice and empowerment were things conservatives professed to like. Seems like a very long time ago now.

That was unless that individual choice included getting your health insurance through the government...

Unless you count Medicare, Medicade or Veterans Benefits

 

[WillowTree]

what happened to you can keep your plan and doctors?

It was all a fucking lie. Next question?

 

[WillowTree]

3M Co. citing new federal health laws, said Monday it won’t cover retirees with its corporate health-insurance plan starting in 2013.

Instead, the company will direct retirees to Medicare-backed insurance programs, and will provide reimbursement for that coverage. It’ll also reimburse retirees who are too young for Medicare; the company didn’t provide further details.

The company made the changes known in a memo to employees Friday; news of the move was reported in The Wall Street Journal and confirmed Monday by 3M spokeswoman Jackie Berry

3m has 23,000 retirees, many of them likely to be living in Minnesota. They’re also likely to vote in the upcoming midterms, perhaps even more likely now than ever. That won’t be good news for House Democrats in the Minnesota delegation hoping to win a new term in four weeks.

3M to dump retirees from medical coverage Hot Air

Wow. AARP really did sell out their members. Wonder how much they will be profiting at the end of the day.

Where do we line up to get that apology from the folks who supported this plan...we warned 'em of exactly this.

You won't be receiving an apology. Sorry, but they lied through their teeth the whole time knowing that they wanted this end result.

 

[rdean]

ObamaCare needs to die and be replaced with something along the lines of the Whole Foods recommendations

"The problem with socialism is that eventually you run out of other people's money." —Margaret Thatcher

With a projected $1.8 trillion deficit for 2009, several trillions more in deficits projected over the next decade, and with both Medicare and Social Security entitlement spending about to ratchet up several notches over the next 15 years as Baby Boomers become eligible for both, we are rapidly running out of other people's money. These deficits are simply not sustainable. They are either going to result in unprecedented new taxes and inflation, or they will bankrupt us.

While we clearly need health-care reform, the last thing our country needs is a massive new health-care entitlement that will create hundreds of billions of dollars of new unfunded deficits and move us much closer to a government takeover of our health-care system. Instead, we should be trying to achieve reforms by moving in the opposite direction—toward less government control and more individual empowerment. Here are eight reforms that would greatly lower the cost of health care for everyone:

• Remove the legal obstacles that slow the creation of high-deductible health insurance plans and health savings accounts (HSAs).

• Equalize the tax laws so that employer-provided health insurance and individually owned health insurance have the same tax benefits. Now employer health insurance benefits are fully tax deductible, but individual health insurance is not. This is unfair.

• Repeal all state laws which prevent insurance companies from competing across state lines. We should all have the legal right to purchase health insurance from any insurance company in any state and we should be able use that insurance wherever we live. Health insurance should be portable.

• Repeal government mandates regarding what insurance companies must cover. These mandates have increased the cost of health insurance by billions of dollars. What is insured and what is not insured should be determined by individual customer preferences and not through special-interest lobbying.

• Enact tort reform to end the ruinous lawsuits that force doctors to pay insurance costs of hundreds of thousands of dollars per year. These costs are passed back to us through much higher prices for health care.

• Make costs transparent so that consumers understand what health-care treatments cost. How many people know the total cost of their last doctor's visit and how that total breaks down? What other goods or services do we buy without knowing how much they will cost us?

• Enact Medicare reform. We need to face up to the actuarial fact that Medicare is heading towards bankruptcy and enact reforms that create greater patient empowerment, choice and responsibility.

• Finally, revise tax forms to make it easier for individuals to make a voluntary, tax-deductible donation to help the millions of people who have no insurance and aren't covered by Medicare, Medicaid or the State Children's Health Insurance Program...

Although Canada has a population smaller than California, 830,000 Canadians are currently waiting to be admitted to a hospital or to get treatment, according to a report last month in Investor's Business Daily. In England, the waiting list is 1.8 million...."

Mr. Mackey is co-founder and CEO of Whole Foods Market Inc.

John Mackey: The Whole Foods Alternative to ObamaCare - WSJ.com

Repeal all state laws which prevent insurance companies from competing across state lines.

I love it. That's one way to get around those pesky state laws protecting American citizens.

Why does the right wing think only about companies? Remember when Americans thought about each other? Oh, that's right. We call that "socialism". Bad. Right wing motto: Every man for himself. Burn baby, burn.

 

[editec]

Frankly I do not understand how any company can ex post facto change the terms of the contracts they made with employees about retirement benefits.

I also do not understand why you think AARP is at fault for this.

 

[rightwinger]

what happened to you can keep your plan and doctors?

It was all a fucking lie. Next question?

I believe that was with a Govt Option you would be able to keep your plan. Since the right wing whined so much,,,Public Option was taken off the table

That was always dependent upon your employer willing to keep your existing plan and coverage. As insurance gets more expensive, employers want out. If your employer decides to dump your coverage, you are shit out of luck

 

[topspin]

they are only changing future benefits accrued from point forward.

 

[Political Junky]

Another win for Corporations over people.

 

[fyrenza]

Pffttt!

They're OLD and just SUCKING up OUR good shit,

and if they had One OUNCE of decency,

they'd curl up and die and quit making our lives so much harder.










Isn't that the Battle Hymn of the Libs?

Cripes.

 

[xotoxi]

MPR:

In a memo to employees, 3M said the reform law's changes should dramatically improve the individual insurance available to workers who retire before age 65 and their dependents.

In effect, 3M is telling its employees the company won't provide them with health insurance after retirement. But 3M says it will help them pay the cost of getting insurance in the private marketplace -- whether it's a commercial health plan for early retirees or Medicare supplement coverage for those over 65. 3M says under health reform, those options will be at least as good as what the company provides now.

3M confirmed the memo's information, but did not provide any further comment.

Economist Paul Fronstin, who directs the nonpartisan Employee Benefit Research Institute, says 3M is probably the first big company to announce such changes. But he expects more companies will follow, because the new law limits how much premiums can vary based on age and other factors, such as pre-existing medical conditions.

"Employers are looking at that and saying, 'Why do I need to be offering this benefit anymore when my retirees can go out and get something that's actually better for them than what I'm offering," said Fronstin. "They can get something better than what I'm offering them and pay more, or they can buy something that's less comprehensive than what I've been offering and pay less."

3M will replace its current retiree medical plan with a health reimbursement arrangement, where 3M will put money into a retirees individual account. For retirees who are eligible for Medicare, that change will begin in 2013. For retirees under age 65, those changes won't take effect until 2015, a year after news health insurance exchanges will be up and running.

The exchanges will function a bit like online travel sites -- instead of comparing non-stop flights and car rental prices, individuals and small groups will compare health care benefits.

I still remember when greater individual choice and empowerment were things conservatives professed to like. Seems like a very long time ago now.

Wait a minute!

The article that you quoted was from the liberal elite Minnesota Public Radio which is run by a bunch of leftists. We can't believe them!

On the other hand, the OP cited HotAir.com, which is Fair and Balanced.

 

[code1211]

3M Co. citing new federal health laws, said Monday it won’t cover retirees with its corporate health-insurance plan starting in 2013.

Instead, the company will direct retirees to Medicare-backed insurance programs, and will provide reimbursement for that coverage. It’ll also reimburse retirees who are too young for Medicare; the company didn’t provide further details.

The company made the changes known in a memo to employees Friday; news of the move was reported in The Wall Street Journal and confirmed Monday by 3M spokeswoman Jackie Berry

3m has 23,000 retirees, many of them likely to be living in Minnesota. They’re also likely to vote in the upcoming midterms, perhaps even more likely now than ever. That won’t be good news for House Democrats in the Minnesota delegation hoping to win a new term in four weeks.

3M to dump retirees from medical coverage Hot Air

Wow. AARP really did sell out their members. Wonder how much they will be profiting at the end of the day.

My AARP Renewal just arrived yesterday and was thrown away. During the last year, this group has offered to sell me life insurance that overpriced, home insurance that was overpriced, car insurance that was overpriced and now their overpriced membership.

Their membership, at any price, would be overpriced. I didn't even open the envelope.

 

[code1211]

No company today wants to be in the healthcare business. It is a long term drain on their bottom line. More reason why we need a strong Government Option to cover the millions of workers who will be dumped by their employers in the coming years

Change that to say "...THE COMING DAYS..." and you'll have it right with the effects produced by the Big 0's plan.