Monday, August 13, 2007

Nancy Hamant: When will STRS staff provide timely actuarial info to Board members?

From Nancy Hamant, August 12, 2007
Subject: Fwd: Fw: STRS Retiree Health Care Problem
Med Mutual's provider in Arizona is causing a major problem for an STRS retiree. He is thinking about going to a private provider and dropping STRS health care insurance. If STRS adds Medicare Advantage as a third option -- even if it is a pilot -- that will cause many STRS retirees to rethink where they are getting their health care. Many may think it is time to throw in the towel and move to an outside insurance provider such as AARP rather than trying to continue to fight the STRS system to maintain reasonable health care. What that will do, will be to continue STRS's Health Care Fund's death spiral due to loss of healthier members -- leaving only those who are much sicker. When will STRS staff provide STRS Board members actuarial information on the impact of various decisions on the STRS Health Care Plan (prior to STRS Board making those decisions)?
Nancy Hamant
Larry KehresMount Union Collge
Division III
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