Quote:
Originally Posted by spence
Companies have been cutting benefits for retirees for years. This is nothing new. I think my father had his drug benefits eliminated at least five years ago and he's a retired exec at a large company.
For all the talk of rising costs due to obama, how much of this was happening anyway? Seems like increases of 10-25 percent were becoming pretty common over the last decade.
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If your Dad is over 62 and covered under Medicare Part D then we have been
paying for his drugs over the last 5 years.
According to research by the Partnership for Health Care Reform, the total government cost is almost twice as high for every enroll-ee to Part D from an employee plan. Five million retirees going into Part D would be an additional cost
of 2.7 BILLION per year.
Now add all the soon to retire" yuppie generation" and i don't want to do the math.
Most of the increases over the last 10 years have come from increase in malpractice insurance, where every Doc will tell you there are 2 groups, those who have been sued and those about to be, and all the new high tech test costs.
Tort reform and across state insurance competition is one way to reduce costs
imho.