So, what does STRS project healthcare insurance costs will be in the future?

From John Curry, March 18, 2010

The charts below were copied from page 10 of the STRS handout entitled, "Report From the Member Benefits Department - Health Care - March 18, 2010." STRS used a rule of thumb that insurance costs will increase at least 10% per year into the foreseeable future (as they have in the past). With no subsidy for spouses, this will continue to drain retirees who have to insure a spouse of non-Medicare age.

Of course, OPERS subsidizes the retirees' spousal health insurance at spousal age of 55 and up but STRS?????? Naw! Then again, STRS pays 88% for 35 years and OPERS only pays 77% for the same 35 years of service....OPERS didn't trash their retirees' spouses, did they? They (OPERS stakeholders) also see 4% of their employer contribution going toward health care as opposed to that miserable 1% that goes into STRS health care from school board contributions. The "old" STRS board sure feathered their nests when they passed the 35/88, didn't they? They also put it to the current spouses of STRS retirees in the form of no health care subsidies! After all, STRS can't afford pay 88 for 35 AND subsidize spouses, now can they?

Of course, maybe you don't have to worry about health insurance for you and your spouse since our former President said (in Cleveland on June 22, 2004), "People have access to health care in America, after all, you just go to an emergency room." Of course, he didn't also say that you will get a huge bill for the emergency room visit, did he? Did he also mention that hospitals are foreclosing on persons who don't pay their hospital bills? Don't worry, be happy!

John
Click images to enlarge.



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