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Re: Health care law(PPACA) may help Baby Boomers

edward_berkline
 

Anyway, in the recent past, some have posted that retirees who
are already covered by their companies health care(no matter the
cost) will be excluded from ACA. I have a hard time believing that
for several reasons.
A certain political party did all they could to prevent changes to the current health care system. They view the health care exchanges as "government run health care" even though commercial insurance companies will be offering insurance on the exchanges. Therefore, it makes sense from their point of view to exclude as many people as possible from having access to the exchanges.

1) It could very well be that ACA coverage could be less expensive
then retiree coverage, especially if you're living on the
pension(as I am). You might be considered low income and quality
for the ACA subsidy.
Even though you may be on a pension and have a low income, that certain political party doesn't want you to have access to any subsidized health insurance because they view that as an expense to taxpayers.

2) Ibm retiree health care does not cover maintenance and
preventive, yet ACA does. How could you be forced to stay with
company X retiree health coverage and be forced to pay for
preventative? This makes no sense.
Yes, it makes no sense. But IBM and other large companies lobbied heavily to make sure that retiree plans were excluded from most requirements of the ACA.

3) For those on FHA, if your notional FHA dollars are burned up
before age 65, could you really expected to pay the full cost of
your retiree health care when you may be able to get ACA for maybe
half the cost?
I think you are dreaming if you think that insurance on the exchanges will be half the cost of what IBM charges. Perhaps if you were eligible for a substantial subsidy it might be. But as I said, I doubt that IBMers will be allowed to have access, even at full cost.

--- In ibmpensionissues@..., "teamb562" <teamb562@...> wrote:

"Can anyone explain how the ACA benefits those IBM retirees...."

Yes, that was the main reason I posted this article. I've been searching for answers on how ACA dovetails with current retiree benefits and have gotten no where. I posted it here since discussion about ACA is stupidly prohibited by Kathy on the ibmpension board.

Anyway, in the recent past, some have posted that retirees who are already covered by their companies health care(no matter the cost) will be excluded from ACA. I have a hard time believing that for several reasons.

1)It could very well be that ACA coverage could be less expensive then retiree coverage, especially if you're living on the pension(as I am). You might be considered low income and quality for the ACA subsidy.

2)Ibm retiree health care does not cover maintenance and preventive, yet ACA does. How could you be forced to stay with company X retiree health coverage and be forced to pay for preventative? This makes no sense.

3) For those on FHA, if your notional FHA dollars are burned up before age 65, could you really expected to pay the full cost of your retiree health care when you may be able to get ACA for maybe half the cost?

There are many of us who will struggle to make it to age 65 (Medicare)
with medical coverage. If anyone has any sources of information that details how ACA dovetails with retiree health care benefits, please post and advise. Thank you.


--- In ibmpensionissues@..., "zimowski@" <zimowski@> wrote:

The more interesting snip is the following: "Health insurance will not necessarily be less costly. It will be operated by state health insurance exchanges, which will offer a competitive private health insurance market that should provide one-stop shopping."

Can anyone explain how the ACA benefits those IBM retirees that are lucky enough to have IBM subsidized health care coverage? I don't see it.



--- In ibmpensionissues@..., "teamb562" <teamb562@> wrote:





snip:
The ACA is likely to spark many more changes. Employers that still offer retiree health benefits may decide to provide something different. For example, instead of a health insurance plan, they may give Boomer retirees a fixed amount of money, called a premium reimbursement, Fontanetta says. Retirees could use that money to select insurance at their state exchange marketplace.
Re: Health care law(PPACA) may help Baby Boomers

 

"Can anyone explain how the ACA benefits those IBM retirees...."

Yes, that was the main reason I posted this article. I've been searching for answers on how ACA dovetails with current retiree benefits and have gotten no where. I posted it here since discussion about ACA is stupidly prohibited by Kathy on the ibmpension board.

Anyway, in the recent past, some have posted that retirees who are already covered by their companies health care(no matter the cost) will be excluded from ACA. I have a hard time believing that for several reasons.

1)It could very well be that ACA coverage could be less expensive then retiree coverage, especially if you're living on the pension(as I am). You might be considered low income and quality for the ACA subsidy.

2)Ibm retiree health care does not cover maintenance and preventive, yet ACA does. How could you be forced to stay with company X retiree health coverage and be forced to pay for preventative? This makes no sense.

3) For those on FHA, if your notional FHA dollars are burned up before age 65, could you really expected to pay the full cost of your retiree health care when you may be able to get ACA for maybe half the cost?

There are many of us who will struggle to make it to age 65 (Medicare)
with medical coverage. If anyone has any sources of information that details how ACA dovetails with retiree health care benefits, please post and advise. Thank you.

--- In ibmpensionissues@..., "zimowski@..." <zimowski@...> wrote:

The more interesting snip is the following: "Health insurance will not necessarily be less costly. It will be operated by state health insurance exchanges, which will offer a competitive private health insurance market that should provide one-stop shopping."

Can anyone explain how the ACA benefits those IBM retirees that are lucky enough to have IBM subsidized health care coverage? I don't see it.



--- In ibmpensionissues@..., "teamb562" <teamb562@> wrote:





snip:
The ACA is likely to spark many more changes. Employers that still offer retiree health benefits may decide to provide something different. For example, instead of a health insurance plan, they may give Boomer retirees a fixed amount of money, called a premium reimbursement, Fontanetta says. Retirees could use that money to select insurance at their state exchange marketplace.
Re: Health care law(PPACA) may help Baby Boomers

Sheila Beaudry
 

Considering the high cost of the IBM insurance the private exchanges will probably be cheaper.? Within?9 years our costs went from $60 to $1400/month for just the 2 of us.? ACA makes them give free preventive care so over time this should lower costs as people take care of things before conditions worsen and become more expensive to treat.? If right wingers hadn't made?such a fuss inaccurately claiming "death panels" there would be doctor sessions where the doctor could explain about palliative care as opposed to extreme measures for those who are terminal.? There was a good article in Money magazine saying that palliative care was not only cheaper but actually extended the patient's life.? The ACA also requires that the insurance companies spend more money on actual patient care and less on overhead like the millions to the CEO.? Those companies that?spent too much money on overhead?had to give money back to the people or in the case of company provided coverage, to the company.?In August $1.1 billion in all was suppose to be returned.?I wonder if IBM used any of the money to lower premiums or just used it to increase their profit?
??

--- On Fri, 12/28/12, Don Mininger wrote:

From: Don Mininger
Subject: Re: [ibmpensionissues] Re: Health care law(PPACA) may help Baby Boomers
To: "ibmpensionissues@..."
Date: Friday, December 28, 2012, 1:42 PM

?
Anyone who thinks the ACA is going to reduce medical care costs is living in a dream world. ?There is a Reason why many of the provisions are being phased in over a period of several years. ?If all the rules in this legislation kicked in at once, the nation would go into Sticker Shock. ?Any fees, etc., added to the health care providers will Surely be passed along to the consumers and patients. ?The Private Insurance companies have their needs well protected under this legislation, and any costs they incur will be passed along to their subscribers in the form of higher premiums and co-pays. ?For Seniors, this combination of Medicare, and the IBM Supplemental plans, are probably one of the best deals out there....let's hope the government doesn't screw with them too much. ?

Ultimately, the medical costs are going to keep rising at a pace that makes care unaffordable for much of the nation....and we will be forced to adopt some form of a SP-UHC system similar to what most of the other nations have been using for years. ?I see that happening before this decade is out. ?We cannot keep paying twice as much for care, as most other nations...and continue to be ranked way down the list in terms of value received for that money. ?The data at the CDC indicates that over 80% ?of this nations medical costs are expended upon less than 15% of our population. ?Much of that is spent on the elderly in the last weeks of their lives, as our Health Care Industry uses them as Lab Rats to sustain life with every possible heroic measure. ?Then, we have to overcome the practice of Defensive Medicine...where doctors are having to order multiple, expensive tests...so as to protect themselves from the army of ambulance chasing lawyers that are just looking for an excuse to bring a multi-million dollar lawsuit for every perceived error in treatment. ?Many doctors pay well over $100K a year for Malpractice Insurance, so as to be protected from these Legal Buzzards....and you KNOW who pays for that. ? ?

Our current health care system is destined to implode under its own weight...and the ACA is going to only hasten the day when that happens. ? ? ? ? ??

From: "zimowski@..."
To: ibmpensionissues@...
Sent: Friday, December 28, 2012 11:35 AM
Subject: [ibmpensionissues] Re: Health care law(PPACA) may help Baby Boomers

?
The more interesting snip is the following: "Health insurance will not necessarily be less costly. It will be operated by state health insurance exchanges, which will offer a competitive private health insurance market that should provide one-stop shopping."

Can anyone explain how the ACA benefits those IBM retirees that are lucky enough to have IBM subsidized health care coverage? I don't see it.

--- In , "teamb562" wrote:
>
>
>
>
>
> snip:
> The ACA is likely to spark many more changes. Employers that still offer retiree health benefits may decide to provide something different. For example, instead of a health insurance plan, they may give Boomer retirees a fixed amount of money, called a premium reimbursement, Fontanetta says. Retirees could use that money to select insurance at their state exchange marketplace.
>
Re: Health care law(PPACA) may help Baby Boomers

 

Anyone who thinks the ACA is going to reduce medical care costs is living in a dream world. ?There is a Reason why many of the provisions are being phased in over a period of several years. ?If all the rules in this legislation kicked in at once, the nation would go into Sticker Shock. ?Any fees, etc., added to the health care providers will Surely be passed along to the consumers and patients. ?The Private Insurance companies have their needs well protected under this legislation, and any costs they incur will be passed along to their subscribers in the form of higher premiums and co-pays. ?For Seniors, this combination of Medicare, and the IBM Supplemental plans, are probably one of the best deals out there....let's hope the government doesn't screw with them too much. ?

Ultimately, the medical costs are going to keep rising at a pace that makes care unaffordable for much of the nation....and we will be forced to adopt some form of a SP-UHC system similar to what most of the other nations have been using for years. ?I see that happening before this decade is out. ?We cannot keep paying twice as much for care, as most other nations...and continue to be ranked way down the list in terms of value received for that money. ?The data at the CDC indicates that over 80% ?of this nations medical costs are expended upon less than 15% of our population. ?Much of that is spent on the elderly in the last weeks of their lives, as our Health Care Industry uses them as Lab Rats to sustain life with every possible heroic measure. ?Then, we have to overcome the practice of Defensive Medicine...where doctors are having to order multiple, expensive tests...so as to protect themselves from the army of ambulance chasing lawyers that are just looking for an excuse to bring a multi-million dollar lawsuit for every perceived error in treatment. ?Many doctors pay well over $100K a year for Malpractice Insurance, so as to be protected from these Legal Buzzards....and you KNOW who pays for that. ? ?

Our current health care system is destined to implode under its own weight...and the ACA is going to only hasten the day when that happens. ? ? ? ? ??

From: "zimowski@..."
To: ibmpensionissues@...
Sent: Friday, December 28, 2012 11:35 AM
Subject: [ibmpensionissues] Re: Health care law(PPACA) may help Baby Boomers

?
The more interesting snip is the following: "Health insurance will not necessarily be less costly. It will be operated by state health insurance exchanges, which will offer a competitive private health insurance market that should provide one-stop shopping."

Can anyone explain how the ACA benefits those IBM retirees that are lucky enough to have IBM subsidized health care coverage? I don't see it.

--- In ibmpensionissues@..., "teamb562" wrote:
>
>
>
>
>
> snip:
> The ACA is likely to spark many more changes. Employers that still offer retiree health benefits may decide to provide something different. For example, instead of a health insurance plan, they may give Boomer retirees a fixed amount of money, called a premium reimbursement, Fontanetta says. Retirees could use that money to select insurance at their state exchange marketplace.
>
Re: Health care law(PPACA) may help Baby Boomers

[email protected]
 

The more interesting snip is the following: "Health insurance will not necessarily be less costly. It will be operated by state health insurance exchanges, which will offer a competitive private health insurance market that should provide one-stop shopping."

Can anyone explain how the ACA benefits those IBM retirees that are lucky enough to have IBM subsidized health care coverage? I don't see it.

--- In ibmpensionissues@..., "teamb562" <teamb562@...> wrote:





snip:
The ACA is likely to spark many more changes. Employers that still offer retiree health benefits may decide to provide something different. For example, instead of a health insurance plan, they may give Boomer retirees a fixed amount of money, called a premium reimbursement, Fontanetta says. Retirees could use that money to select insurance at their state exchange marketplace.
Re: Health care law(PPACA) may help Baby Boomers

 

If you think the federal deficit is high now - just wait until Uncle Sam is running health insurance and every person with a pre-existing condition that has never had insurance jumps on the train.

Now it is possible to have a cell phone, public housing, food stamps, and full medical coverage and do absolutely nothing - for all your life. There seems to be no incentive for a child with parents dependent on a public handout to get a job. They'd have to make $20K (a guess) just to get to the first dollar more than they would get for doing nothing.

--- In ibmpensionissues@..., "teamb562" <teamb562@...> wrote:





snip:
The ACA is likely to spark many more changes. Employers that still offer retiree health benefits may decide to provide something different. For example, instead of a health insurance plan, they may give Boomer retirees a fixed amount of money, called a premium reimbursement, Fontanetta says. Retirees could use that money to select insurance at their state exchange marketplace.
Health care law(PPACA) may help Baby Boomers

 



snip:
The ACA is likely to spark many more changes. Employers that still offer retiree health benefits may decide to provide something different. For example, instead of a health insurance plan, they may give Boomer retirees a fixed amount of money, called a premium reimbursement, Fontanetta says. Retirees could use that money to select insurance at their state exchange marketplace.
Re: Your Taxes at Work!

ibmchiapetrescue
 

Good point!

Who Will Guarantee This Guarantor?

--- In ibmpensionissues@..., edward_berkline <no_reply@...> wrote:

Do you understand that the PBGC is NOT funded with taxpayer dollars? It's funding comes from insurance premiums that employers with pension plans are required to pay to the PBGC and from pension plan assets it acquires.

People are worried, however, that given the number of underfunded pension plans the PBGC has had to take over, it might someday require a taxpayer bailout if it can not fully cover its obligations. But such a bailout would require an act of Congress.
Re: Your Taxes at Work!

edward_berkline
 

Do you understand that the PBGC is NOT funded with taxpayer dollars? It's funding comes from insurance premiums that employers with pension plans are required to pay to the PBGC and from pension plan assets it acquires.

People are worried, however, that given the number of underfunded pension plans the PBGC has had to take over, it might someday require a taxpayer bailout if it can not fully cover its obligations. But such a bailout would require an act of Congress.

--- In ibmpensionissues@..., ibmchiapetrescue <no_reply@...> wrote:



"Under Hawker's proposed Chapter 11 plan, that means the PBGC will recover less than seven cents on the dollar."
Your Taxes at Work!

ibmchiapetrescue
 



"Under Hawker's proposed Chapter 11 plan, that means the PBGC will recover less than seven cents on the dollar."
End of times is here?

armageddon_archipelago
 

The year 2012 refers to the last year of the Long Count Mayan calendar.
The current Great Cycle, as the Mayans call it, is set to end on the winter solstice of 2012 - to be exact December 21st 2012. Many people believe that on this date, our world will change forever and never be the same...
Re: IBM changes 401(k) petition

[email protected]
 

For those of you who should be thinking about changing your employer:

Employees' Choice Awards 2013
Glassdoor is excited to announce our fifth annual Employees' Choice Awards, a list of the 50 Best Places to Work. The top 50 winners were selected by the people who know these companies best – their employees.

,19.htm?utm_medium=email&utm_source=newsletter&utm_campaign=BPTW13-G&utm_content=BPTW13-G

--- In ibmpensionissues@..., "elaine_smitty" <elaine_smitty@...> wrote:

I just signed. Currently 559 signatures.

--- In ibmpensionissues@..., "strss_t" <strss_t@> wrote:

I signed this morning. Currently 553 signatures.

--- In ibmpensionissues@..., richard_q_99 <no_reply@> wrote:

I just signed the petition this morning:



Have any others here signed? Only 395 have signed so far. We should have many many more than this.
Re: IBM changes 401(k) petition

[email protected]
 

Not even close to critical mass.

--- In ibmpensionissues@..., "elaine_smitty" <elaine_smitty@...> wrote:

I just signed. Currently 559 signatures.

--- In ibmpensionissues@..., "strss_t" <strss_t@> wrote:

I signed this morning. Currently 553 signatures.

--- In ibmpensionissues@..., richard_q_99 <no_reply@> wrote:

I just signed the petition this morning:



Have any others here signed? Only 395 have signed so far. We should have many many more than this.
Re: IBM changes 401(k) petition

 

I just signed. Currently 559 signatures.

--- In ibmpensionissues@..., "strss_t" <strss_t@...> wrote:

I signed this morning. Currently 553 signatures.

--- In ibmpensionissues@..., richard_q_99 <no_reply@> wrote:

I just signed the petition this morning:



Have any others here signed? Only 395 have signed so far. We should have many many more than this.
Re: IBM changes 401(k) petition

 

I signed this morning. Currently 553 signatures.

--- In ibmpensionissues@..., richard_q_99 <no_reply@...> wrote:

I just signed the petition this morning:



Have any others here signed? Only 395 have signed so far. We should have many many more than this.
Re: IBM changes 401(k) petition - Email received

richard_q_99
 

Alliance@IBM CWA Local 1701 has sent you a message

FROM: Change.org
TO: richard_q_99@...
Monday, December 10, 2012 9:37 AM

Dear Richard,

Thanks for signing our petition, "International Business Machines (IBM USA): IBM must REVERSE the decision changing the IBM match 401(k) contribution.."

Can you help this petition win by asking your friends to sign too? It's easy to share with your friends on Facebook - just click here to share the petition on Facebook.

There's also a sample email below that you can forward to your friends.

Thanks again -- together we're making change happen,

Alliance@IBM CWA Local 1701

---------

Note to forward to your friends:

Hi!

I just signed the petition "International Business Machines (IBM USA): IBM must REVERSE the decision changing the IBM match 401(k) contribution." on Change.org.

It's important. Will you sign it too? Here's the link:



Thanks!

Richard
IBM changes 401(k) petition

richard_q_99
 

I just signed the petition this morning:



Have any others here signed? Only 395 have signed so far. We should have many many more than this.
Thank you for inviting me here

jenybbss
 

I have been a member of the ibmpension board for over 5 years but have never been able to post anything. I do not even have the Post button available to me on that board.
Fw: IBM CLUB HOLIDAY POTLUCK Thursday, December 6, 2012

 

This is MY IBM ? I happily retired from 22 years ago. ?And this wonderful group of people have never been better IBMers than they are today,,, ups and downs,, YES,, but doubt,,, NEVER
?

----- Forwarded Message -----
From: Nancy Ellis
To:
Sent: Friday, November 30, 2012 7:52 PM
Subject: Fw: IBM CLUB HOLIDAY POTLUCK Thursday, December 6, 2012



----- Forwarded Message ----
From: IBM Metro St Louis News
To: St. Louis Employees A-E ; St. Louis Employees F-K ; St. Louis Employees L-Rich ; St. Louis Employees Richard - Z ; St Louis Opt In -- Additional ; IBM Club Retirees STL
Sent: Wed, November 28, 2012 2:12:41 PM
Subject: IBM CLUB HOLIDAY POTLUCK Thursday, December 6, 2012
? ? ? ? Please join your fellow IBMers for the annual IBM Club Holiday Potluck!

This year featuring award winning Pappy's Smokehouse BBQ, voted Best BBQ in St. Louis

? ? ? ?The IBM Club Metro St. Louis is hosting the
? ? ? ? 7th Annual Holiday Potluck Lunch
for all IBM Employees & IBM Retirees
?
When: ?Thursday, December 6, 2012 from 11:00 a.m. - 2:00 p.m.
Where: ?Maryland Heights Center (Multipurpose Room)
Maryland Heights, MO 63043

Please bring appetizers, side dishes, & desserts.
Last name starts with:
?A-H = bring a dessert
? I-Q = bring appetizers
? ? ? ? ? ? ? ? ? ? R-Z = bring vegetable or side dish
?
RSVP by Monday, December 3rd by sending an email to ICLUBSTL@...
(For food planning purposes)


?

? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ?




Click here for


What To Do If Your Pension Is Frozen Or You're Offered A Lump Sum

namremf
 



"Keep in mind, too, that insurers charge women more for annuities because of their longer life expectancy. But the lump sum amount is gender-neutral, so a lump is generally a worse deal for women. An alternative for women: Take the lump and use that money to delay claiming Social Security until 70, effectively buying a larger, inflation-adjusted annuity from Uncle Sam at a gender-neutral rate."

"How secure is your pension if you don't take the lump? If your ex-employer retains its pension obligation to you and then goes bankrupt, the federal Pension Benefit Guaranty Corp. will pay you your pension–up to a maximum of $56,000 a year for a pension taken at age 65. (While that cap is adjusted yearly, your maximum guaranteed payment is locked in, based on the year your pension is dumped on the PBGC.)"
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