STRIKE 2005
Daily Update
- Local Lodge 2766
FOR
IMMEDIATE RELEASE
Health Insurance Alternatives
Recognizing the plight of so many Machinist families across
the country with layoffs and job losses, Employee Benefit Systems, Inc.,
the Machinist worksite, supplemental benefit provider nationwide, has finalized
arrangements for temporary and permanent individual major medical policies for
Machinists and their families. EBS has put together three options for
high deductible medical plans underwritten by FORTIS and available in more than
40 states nationwide. Information and application material for all of
these plans is available by calling Employee Benefit Systems at
888-521-2900.
Read More About Employee Benefit Systems
Contact Department of Employment Services
1-301-967-4717
Services in Your State
Many states offer families a variety of
options for getting health care services. These options are funded
through Medicaid and are administered by the county Department of Jobs and
Family Services/Department of Human Services. The name of the Department
varies from state to state. Some states refer to this program as “Healthy
Start” others as “CHIPS”. Families must be made eligible based on income,
which also vary from state to state. Healthy Start and Healthy Families
offer free & low cost health care coverage to families, children (up to age
19) and pregnant women. Coverage includes: doctor visits, hospital care,
pregnancy related services, prescriptions, vision, dental, substance abuse,
mental health services and much more. Contact your local state Medicaid
office for information, or call
1-877-KIDSNOW.
Other Alternatives for Health Insurance
The following website offers resources and alternatives for
Health insurance. These are offered for your information and to
assist you in comparing plans.
· Office Links to
your state
· Cobra
alternatives
· IRA Rollovers
www.ushealthadvisors.net/usaplus2
Be sure and contact your District or Local Lodge or
Business Representative to learn of other alternatives that you can explore
locally.
Key Questions to ask your insurance provider before
purchasing Insurance, so you can avoid unpleasant surprises when you have a
claim.
· What is not
covered in the plan? These are called “exclusions”.
· Does the plan
have a deductible that you must pay for each claim? What is the
maximum deductible?
· Are there other
charges or “co-payments” that you are responsible to pay?
· What is the
worst case “out-of-pocket” amount that you could be responsible to pay?
· What is the
maximum coverage per day or lifetime?
· Does the plan
deny benefits if your medical problem arises because of a health problem you
already had when your policy started? (This is called “pre-existing”
condition).
· Does the plan
require you to determine-by yourself-whether you meet the insurance company’s
health standards before you can buy?
· How long is the
premium rate guaranteed? What are the renewal guarantees?
· Are there
specific exclusions that pertain to sport or other activities?
Health Insurance
Exploring my Alternatives
An Overview on COBRA
COBRA coverage works like this: Most workers who are laid
off are allowed to remain in their employer-based health plan for up to 18 months,
provided they pay the full premium (their share plus the employer share) and a
small administrative fee. The problem is, the full premium for employment-based
coverage averages about $200 per month for individual coverage ($2,400 a year)
or almost $575 per month ($7,000 a year) for family coverage. Since COBRA
coverage is very expensive, many laid-off workers choose to remain uninsured,
gambling that they won''t get
sick before they find another job. However, workers who already have a chronic
health condition generally accept COBRA coverage, despite the high cost.
Otherwise they would have no protection against high medical bills they know
they will face.
In the jargon of health insurance, employers offering COBRA
coverage experience "adverse selection," that is, healthier than
average ex-workers decline the continuing coverage sicker than average workers
accept. Even though the workers who accept coverage pay the full premium, their
costs are actually higher than average, which drives up the premium for the employer''s whole group. That''s
why employers dislike the COBRA requirement: even though only a small fraction
of ex-employees accept the coverage, it still drives employers'' health costs
up.
How a Tax Credit for COBRA Could Work
The reason employment-based
health coverage works is because most employees -- the healthy as well as
the sick -- sign up for coverage. Most employers pay at least a 50 percent
share of the total premium to encourage just such a result; furthermore,
the tax code encourages employers to pay a large share of the premium by
making the employer share tax-free to the employee. However, the tax
code does not subsidize COBRA coverage. A new tax
credit for COBRA coverage is the key to making COBRA coverage affordable for
workers and preventing it from driving up health costs for employers.
You have 60 days from the date you receive notice about your
right to elect COBRA coverage or from the date when coverage has ended
(whichever is later) to elect COBRA coverage.