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.Read More
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.Read More
The airline and parent company AMR said they never promised to provide benefits for life and reserved their rights to modify the plans.
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.Read More
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.
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.
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.Read More
Out-of-pocket costs on drugs and medical insurance are the second most costly item for older folks.Read More
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.Read More