Tuesday, October 05, 2010

I see Police & Fire, I see SERS, I see PERS, I even see Plumbers & Pipefitters local 219 but I still (just like last time) don't see STRS.....

.....this list has been updated as of Oct. 1, 2010...what's the matter, STRS?

From John Curry, October 5, 2010

http://www.healthcare.gov/law/provisions/retirement/states/oh.html

Provisions


Early Retiree Reinsurance Program: Ohio

Rising health care costs have made it difficult for employers to provide quality, affordable health insurance for workers and retirees while also remaining competitive in the global marketplace. The percentage of large firms providing workers with retiree health coverage has dropped from 66 percent in 1988 to 29 percent in 2009.1 Health insurance premiums for older Americans are over four times more expensive than they are for young adults,2 and the deductible these enrollees pay is, on average, almost four times that for a typical employer-sponsored insurance plan.3

The Affordable Care Act creates a new program called the Early Retiree
Reinsurance
ReinsuranceA reimbursement system that protects insurers from very high claims. It usually involves a third party paying part of an insurance company’s claims once they pass a certain amount. Reinsurance is a way to stabilize an insurance market and make coverage more available and affordable.


Program to help address this challenge that employers and older employees are facing. The Early Retiree Reinsurance Program provides $5 billion in financial assistance to employers and unions to help them maintain coverage for early retirees age 55 and older who are not yet eligible for
Medicare
MedicareA Federal health insurance program for people who are age 65 or older and certain younger people with disabilities. It also covers people with End-Stage Renal Disease (permanent kidney failure requiring dialysis or a transplant, sometimes called ESRD).
.
*New program participants as of October 1, 2010. List to be updated weekly.


Businesses, other employers, and unions that are accepted into the program will receive reimbursement for medical claims for early retirees and their spouses, surviving spouses, and dependents. Savings can be used to reduce employer health care costs, provide premium relief to workers and families, or both. Applicants who are approved into the program receive reinsurance for the claims of high-cost retirees and their families (80 percent of the costs from $15,000 to $90,000). The program ends on January 1, 2014 when State health insurance Exchanges are up and running.

HHS has approved the following sponsors from Ohio. More applications are being approved each day.

4th District IBEW Health Fund
A. Schulman, Inc.,
ABX Air, Inc.
AK Steel Corporation
American Electric Power Service Corporation
American Financial Group, Inc.
American Greetings Corporation
Andersons, Inc.*
Battelle Memorial Institute
Board of Trustees Canton Electrical Welfare Fund
Board of Trustees for the Building Laborers Local
Board of Trustees for the Iron Workers Local 17 Insurance Fund
Board of Trustees Insulators Local B4 Health Care Fund
Bridgestone Americas, Inc.
Carpenters Health Fund of West Virginia
Chart Industries, Inc.
Cincinnati Bell Inc.
Cleveland Bakers and Teamsters Health and Welfare Fund*
Cleveland Clinic Foundation
Cliffs Mining Co, Managing Agent of Hibbing Joint Venture*
Cliffs Natural Resources, Inc.*
Cliffs North American Coal LLC*
Cognis Corporation
Commercial Vehicle Group, Inc.
Convergys Corporation
Cooper Tire & Rubber Company *
Dana Non-Union Retiree VEBA Trust
Dealer Computer Services, Inc.
East Ohio Conference of The United Methodist Church
Eaton Corporation*
Electrolux Home Products, Inc.*
Empire Iron Mining Partnership*
Faurecia Exhaust Systems, Inc.
Federal Home Loan Bank of Cincinnati*
First Citizens Banc Corp
FirstEnergy Corp
Goodyear Tire & Rubber Company*
IBEW-648 Health and Welfare Fund*
International Brotherhood of Electrical Workers Local No. 129 Health and Welfare Fund
International Brotherhood of Electrical Workers Local No. 38 Health and Welfare Fund
Iron Workers District Council of Southern Ohio & Vicinity Benefit Trust
John Maneely Company
Jones Day
Kao America Inc.
Kenyon College*
KeyCorp
Lake Superior & Ishpeming Railroad Company*
Libbey Inc.*
Licking Rural Electrfication, Inc.*
Macy's, Inc.
Marathon Oil Company
Marietta Memorial Hospital
Marlite Inc.
Medical Mutual of Ohio
Moen Incorporated
Nationwide Mutual Insurance Company
NewPage Corporation
NewPage Wisconsin System, Inc.
Nordson Corporation
Nordson Corporation
Northshore Mining Company*
Novelis Corporation
Ohio Laborers' District Council - Ohio Contractors
Ohio Operating Engineers Health & Welfare Plan
Ohio Police and Fire Pension Fund*
Ohio Valley Electric Corporation*
Owens Corning
Owens-Illinois Inc.*
Painting Industry Insurance Fund*
Parker Hannifin Corp
PCC Airfoils, LLC
Pilkington North America, Inc.
Pipefitters #120 Insurance Fund
Plumbers & Pipefitters Local 189 Health & Welfare Fund
Plumbers & Pipefitters Local 219
Plumbers & Pipefitters Local 94 Health & Welfare Plan
Plumbers & Steamfitters Local 42 Health & Welfare Fund
Plumbers & Steamfitters Local Union No. 396
Plumbers Union Local 55 Health & Welfare
Plumbers, Pipefitters & Mechanical Equipment Service Local 392
Public Employees Retirement System of Ohio
Robbins & Myers, Inc.
School Employees Retirement System of Ohio
Sheet Metal Workers Int'l Assoc. of Dayton Local 224 Welfare Fund*
Sheet Metal Workers Local 33 Youngstown District Health and Welfare Fund
Sheet Metal Workers Local No. 110 Health Fund
Sheet Metal Workers Union Local 33 Cleveland District
State Automobile Mutual Insurance Company
STERIS Corporation*
Teamsters Health & Welfare Fund Local 377
Teamsters Local Union #348 Health & Welfare Fund
Teamsters Local Union No.20 Insurance and Health and Welfare Fund*
Teamsters Union Local No. 52 Health & Welfare Fund
The Andersons, Inc.*
The David J. Joseph Company*
The Goodyear Tire & Rubber Company*
The Lubrizol Corporation
The Ohio Police and Fire Pension Fund*
The Procter & Gamble Company
The Sherwin-Williams Company
The Timken Company
The University of Akron*
The Western and Southern Life Insurance Company
Tilden Mining Company L.C.*
Toledo Electrical Welfare Fund*
UFCW Unions' and Employers' Health and Welfare Plan
Union Construction Workers Health Plan
Union of Roofers Waterproofers & Allied Workers
United Taconite LLC*
University of Akron*
Youngstown Area Electrical Welfare Fund Trustees

[1] Kaiser / HRET. Employer Health
Benefits
BenefitsThe health care items or services covered under a health insurance plan. Covered benefits and excluded services are defined in the health insurance plan's coverage documents. In Medicaidor CHIP, covered benefits and excluded services are defined in state program rules.
: 2009 Survey.[2] Center for Policy and Research. Individual Health Insurance 2009.[3] Kaiser Family Foundation. 2010. Survey of People Who Purchase Their Own Insurance.

Larry KehresMount Union Collge
Division III
web page counter
Vermont Teddy Bear Company