There’s a pretty big update for US Postal workers and their retirement benefits. For years Postal retirees have enjoyed VERY high quality coverage in when they get to Medicare, the closest comparison would be that of a Medicare Plan F. Part of the Post office requirement is to keep 75 years worth of claims paying ability on hand which has been a burden on the reserves. Legislation that was recently passed will change that, if it makes it through to law Postal workers who are not yet on Medicare will have to enroll in a traditional Medicare plan like everyone else.
Here’s the snippet from an article talking about the changes.
“To address the financial strain on the agency, the bill requires retired employees to enroll in Medicare when they are eligible and removes a mandate, first imposed by a 2006 law, that the agency cover its future health care costs decades in advance. The Postal Service estimates that those two changes will save the agency about $50 billion over a decade, according to a fact sheet provided by the House Committee on Oversight and Reform, whose leaders led efforts to draft the legislation. The committee said it would be the most significant overhaul of the agency in nearly two decades.”
If you’d like to read the entire article you can view it here: https://www.msnbc.com/rachel-maddow-show/maddowblog/congress-finally-passes-bill-shore-us-postal-service-rcna19284