Something worth forwarding

Add what legislative health care reform means to you and what your opinion is of progress. Comments on your own personal health insurance situation are welcomed.

Something worth forwarding

Joined: 09 Jun 2008, 21:40

14 Aug 2009, 18:42 #1

Dear Friend,

This is probably one of the longest emails I’ve ever sent, but it could be the most important.

Across the country we are seeing vigorous debate about health insurance reform. Unfortunately, some of the old tactics we know so well are back — even the viral emails that fly unchecked and under the radar, spreading all sorts of lies and distortions.

As President Obama said at the town hall in New Hampshire, “where we do disagree, let's disagree over things that are real, not these wild misrepresentations that bear no resemblance to anything that's actually been proposed.”

So let’s start a chain email of our own. At the end of my email, you’ll find a lot of information about health insurance reform, distilled into 8 ways reform provides security and stability to those with or without coverage, 8 common myths about reform and 8 reasons we need health insurance reform now.

Right now, someone you know probably has a question about reform that could be answered by what’s below. So what are you waiting for? Forward this email.

Thanks,
David

David Axelrod
Senior Adviser to the President

P.S. We launched http://www.WhiteHouse.gov/realitycheck this week to knock down the rumors and lies that are floating around the internet. You can find the information below, and much more, there. For example, we've just added a video of Nancy-Ann DeParle from our Health Reform Office tackling a viral email head on. Check it out:



8 ways reform provides security and stability to those with or without coverage

Ends Discrimination for Pre-Existing Conditions: Insurance companies will be prohibited from refusing you coverage because of your medical history.
Ends Exorbitant Out-of-Pocket Expenses, Deductibles or Co-Pays: Insurance companies will have to abide by yearly caps on how much they can charge for out-of-pocket expenses.
Ends Cost-Sharing for Preventive Care: Insurance companies must fully cover, without charge, regular checkups and tests that help you prevent illness, such as mammograms or eye and foot exams for diabetics.
Ends Dropping of Coverage for Seriously Ill: Insurance companies will be prohibited from dropping or watering down insurance coverage for those who become seriously ill.
Ends Gender Discrimination: Insurance companies will be prohibited from charging you more because of your gender.
Ends Annual or Lifetime Caps on Coverage: Insurance companies will be prevented from placing annual or lifetime caps on the coverage you receive.
Extends Coverage for Young Adults: Children would continue to be eligible for family coverage through the age of 26.
Guarantees Insurance Renewal: Insurance companies will be required to renew any policy as long as the policyholder pays their premium in full. Insurance companies won't be allowed to refuse renewal because someone became sick.
Learn more and get details: http://www.WhiteHouse.gov/health-insura ... otections/

8 common myths about health insurance reform
Reform will stop "rationing" - not increase it: It’s a myth that reform will mean a "government takeover" of health care or lead to "rationing." To the contrary, reform will forbid many forms of rationing that are currently being used by insurance companies.
We can’t afford reform: It's the status quo we can't afford. It’s a myth that reform will bust the budget. To the contrary, the President has identified ways to pay for the vast majority of the up-front costs by cutting waste, fraud, and abuse within existing government health programs; ending big subsidies to insurance companies; and increasing efficiency with such steps as coordinating care and streamlining paperwork. In the long term, reform can help bring down costs that will otherwise lead to a fiscal crisis.
Reform would encourage "euthanasia": It does not. It’s a malicious myth that reform would encourage or even require euthanasia for seniors. For seniors who want to consult with their family and physicians about end-of life decisions, reform will help to cover these voluntary, private consultations for those who want help with these personal and difficult family decisions.
Vets' health care is safe and sound: It’s a myth that health insurance reform will affect veterans' access to the care they get now. To the contrary, the President's budget significantly expands coverage under the VA, extending care to 500,000 more veterans who were previously excluded. The VA Healthcare system will continue to be available for all eligible veterans.
Reform will benefit small business - not burden it: It’s a myth that health insurance reform will hurt small businesses. To the contrary, reform will ease the burdens on small businesses, provide tax credits to help them pay for employee coverage and help level the playing field with big firms who pay much less to cover their employees on average.
Your Medicare is safe, and stronger with reform: It’s myth that Health Insurance Reform would be financed by cutting Medicare benefits. To the contrary, reform will improve the long-term financial health of Medicare, ensure better coordination, eliminate waste and unnecessary subsidies to insurance companies, and help to close the Medicare "doughnut" hole to make prescription drugs more affordable for seniors.
You can keep your own insurance: It’s myth that reform will force you out of your current insurance plan or force you to change doctors. To the contrary, reform will expand your choices, not eliminate them.
No, government will not do anything with your bank account: It is an absurd myth that government will be in charge of your bank accounts. Health insurance reform will simplify administration, making it easier and more convenient for you to pay bills in a method that you choose. Just like paying a phone bill or a utility bill, you can pay by traditional check, or by a direct electronic payment. And forms will be standardized so they will be easier to understand. The choice is up to you – and the same rules of privacy will apply as they do for all other electronic payments that people make.
Learn more and get details:
http://www.WhiteHouse.gov/realitycheck
http://www.WhiteHouse.gov/realitycheck/faq

8 Reasons We Need Health Insurance Reform Now

Coverage Denied to Millions: A recent national survey estimated that 12.6 million non-elderly adults – 36 percent of those who tried to purchase health insurance directly from an insurance company in the individual insurance market – were in fact discriminated against because of a pre-existing condition in the previous three years or dropped from coverage when they became seriously ill. Learn more: http://www.healthreform.gov/reports/den ... index.html
Less Care for More Costs: With each passing year, Americans are paying more for health care coverage. Employer-sponsored health insurance premiums have nearly doubled since 2000, a rate three times faster than wages. In 2008, the average premium for a family plan purchased through an employer was $12,680, nearly the annual earnings of a full-time minimum wage job. Americans pay more than ever for health insurance, but get less coverage. Learn more: http://www.healthreform.gov/reports/hid ... index.html
Roadblocks to Care for Women: Women’s reproductive health requires more regular contact with health care providers, including yearly pap smears, mammograms, and obstetric care. Women are also more likely to report fair or poor health than men (9.5% versus 9.0%). While rates of chronic conditions such as diabetes and high blood pressure are similar to men, women are twice as likely to suffer from headaches and are more likely to experience joint, back or neck pain. These chronic conditions often require regular and frequent treatment and follow-up care. Learn more: http://www.healthreform.gov/reports/women/index.html
Hard Times in the Heartland: Throughout rural America, there are nearly 50 million people who face challenges in accessing health care. The past several decades have consistently shown higher rates of poverty, mortality, uninsurance, and limited access to a primary health care provider in rural areas. With the recent economic downturn, there is potential for an increase in many of the health disparities and access concerns that are already elevated in rural communities. Learn more: http://www.healthreform.gov/reports/hardtimes
Small Businesses Struggle to Provide Health Coverage: Nearly one-third of the uninsured – 13 million people – are employees of firms with less than 100 workers. From 2000 to 2007, the proportion of non-elderly Americans covered by employer-based health insurance fell from 66% to 61%. Much of this decline stems from small business. The percentage of small businesses offering coverage dropped from 68% to 59%, while large firms held stable at 99%. About a third of such workers in firms with fewer than 50 employees obtain insurance through a spouse. Learn more: http://www.healthreform.gov/reports/helpbottomline
The Tragedies are Personal: Half of all personal bankruptcies are at least partly the result of medical expenses. The typical elderly couple may have to save nearly $300,000 to pay for health costs not covered by Medicare alone. Learn more: http://www.healthreform.gov/reports/inaction
Diminishing Access to Care: From 2000 to 2007, the proportion of non-elderly Americans covered by employer-based health insurance fell from 66% to 61%. An estimated 87 million people - one in every three Americans under the age of 65 - were uninsured at some point in 2007 and 2008. More than 80% of the uninsured are in working families. Learn more: http://www.healthreform.gov/reports/ina ... index.html
The Trends are Troubling: Without reform, health care costs will continue to skyrocket unabated, putting unbearable strain on families, businesses, and state and federal government budgets. Perhaps the most visible sign of the need for health care reform is the 46 million Americans currently without health insurance - projections suggest that this number will rise to about 72 million in 2040 in the absence of reform. Learn more: http://www.WhiteHouse.gov/assets/docume ... Report.pdf










The White House • 1600 Pennsylvania Ave NW • Washington, DC 20500 • 202-456-1111
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Joined: 24 Jul 2008, 14:09

17 Aug 2009, 00:42 #2

The following was forwarded to me by a friend.You can forward it or destroy it as you see fit.


rom: Subject: Health care

Peter Fleckenstein, a blogger and former Marine from Phoenix, Arizona, is going through the ObamaCare bill page by page and highlighting the provisions he finds there.

Clearly, Fleckenstein has struck a nerve. His list, originally published as a series of Twitter posts, has gone viral via email. Within days, the liberal fascists published his personal information on Twitter as a means to silence him. Fleckenstein promises legal action.

It’s easy to see why the liberals are tripping over themselves to suppress the information Fleckenstein unearthed. At its best, the information Fleckenstein culled from the bowels of the ObamaCare bill are absurd. When you really understand what the ObamaCare bill is and what Congress and Obama are trying to do with it, however, it turns from absurd to nearly terrifying.

Information has been ta ken from different sources for formatting purposes but verified back to Fleckenstein’s original work. Fleckenstein’s blog is here: http://blog.fle cksoflife.com/

• Page 22: Mandates audits of all employers that self-insure!
• Page 29: Admission: your health care will be rationed!
• Page 30: A government committee will decide what treatments and benefits you get (and, unlike an insurer, there will be no appeals process)
• Page 42: The “Health Choices Commissioner” will decide health benefits for you. You will have no choice. None.
• Page 50: All non-US citizens, illegal or not, will be provided with free healthcare services.
• Page 58: Every person will be issued a National ID Healthcard.
• Page 59: The federal government will have direct,20 real-time access to all individual bank accounts for electronic funds transfer.
• Page 65: Taxpayers will subsidize all union retiree and community organizer health plans (read: SEIU, UAW and ACORN)
• Page 72: All private healthcare plans must conform to government rules to participate in a Healthcare Exchange.
• Page 84: All private healthcare plans must participate in the Healthcare Exchange (i.e., total government control of private plans)
• Page 91: Government mandates linguistic infrastructure for services; translation: illegal aliens
• Page 95: The Government will pay ACORN and Americorps to sign up individuals for Government-run Health Care plan.
• Page 102: Those eligible for Medicaid will be automatically enrolled: you have no choice in the matter.
• Page 124: No company can sue the government for price-fixing. No “judicial review” is permitted against the government monopoly. Put simply, private insurers will be crushed.
• Page 127: The AMA sold doctors out: the government will set wages.
• Page 145: An employer MUST auto-enroll employees into the government-run public plan. No alternatives.
• Page 126: Employers MUST pay healthcare bills for part-time employees AND their families.
• Page 149: Any=2 0employer with a payroll of $400K or more, who does not offer the public option, pays an 8% tax on payroll
• Page 150: Any employer with a payroll of $250K-400K or more, who does not offer the public option, pays a 2 to 6% tax on payroll
• Page 167: Any individual who doesn’t’ have acceptable healthcare (according to the government) will be taxed 2.5% of income.
• Page 170: Any NON-RESIDENT alien is exempt from individual taxes (Americans will pay for them).
• Page 195: Officers and employees of Government Healthcare Bureaucracy will have access to ALL American financial and personal records.
• Page 203: “The tax imposed under this section shall not be treated as tax.” Yes, it really says that.
• Page 239: Bill will reduce physician services for Medicaid. Seniors and the poor most affected.9 D
• Page 241: Doctors: no matter what specialty you have, you’ll all be paid the same (thanks, AMA!)
• Page 253: Government sets value of doctors’ time, their professional judgment, etc.
• Page 265: Government mandates and controls productivity for private healthcare industries.
• Page 268: Government regulates rental and purchase of power-driven wheelchairs.
• Page 272: Cancer patients: welcome to the wonderful world of rationing!
• Page 280: Hospitals will be penalized for what the government deems preventable re-admissions.
• Page 298: Doctors: if you treat a patient during an initial admission that results in a readmission, you will be penalized by the government.
• Page 317: Doctors: you are now prohibited for owning and investing in healthcare companies!
• Page 318: Prohibition on hospital expansion. Hospitals cannot expand without government approval.
• Page 321: Hospital expansion hinges on “community” input: in other words, yet another payoff for ACORN.
• Page 335: Government mandates establishment of outcome-based measures: i.e., rationing.
• Page 341: Government has authority to disqualify Medicare Advantage Plans, HMOs, etc.
• Page 354: Government will restrict enrollment of SPECIAL NEEDS individuals.
• Page 379: More bureaucracy: Telehealth Advisory Committee (healthcare by phone).
• Page 425: More bureaucracy: Advance Care Planning Consult: Senior Citizens, assisted suicide, euthanasia?
• Page 425: Government will instruct and consult regarding living wi lls, durable powers of attorney, etc. Mandatory. Appears to lock in estate taxes ahead of time.
• Page 425: Government provides approved list of end-of-life resources, guiding you in death.
• Page 427: Government mandates program that orders end-of-life treatment; government dictates how your life ends.
• Page 429: Advance Care Planning Consult will be used to dictate treatment as patient’s health deteriorates. This can include an ORDER for end-of-life plans. An ORDER from the GOVERNMENT.
• Page 430: Government will decide what level of treatments you may have at end-of-life.
• Page 469: Community-based Home Medical Services: more payoffs for ACORN.
• Page 472: Payments to Community-based organizations: more payoffs for ACORN.
• Page 489: Government will cover marriage and family therapy. Government intervenes in your marriage.
• Page 494: Government will cover mental health services: defining, creating and rationing those services.
* PG 502 Line 5-18 Government builds the “Center” to conduct, support, & synthesize research to define our HealthCare Services.
* PG 502 Section 1181 Center for Comparative Effectiveness Research Established. – Hello Big Brother – Literally.
* PG 503 Line 13-19 Government will build registries and data networks from YOUR electronic medica l records.
* PG 503 Line 21-25 Government may secure data directly from any department or agency of the US including your data.
* PG 504 Line 6-10 The “Center” will collect data both published & unpublished (that means public & your private info)
* PG 506 Line 19-21 The Center will recommend policies that would allow for public access of data.
* PG 518 Line 21-25 The Commission will have input from HealthCare consumer reps – Can you say unions & amp; ACORN?
* PG 524 18-22 Comparative Effectiveness Research Trust Fund set up. More taxes for ALL.
* PGs 525-620 deals with the Govt basically taking over nursing homes, long-term care facilities (think assisted living) through regulations of the facilities, the owners of sd facilities, the employees of sd facilities and even the land owners of that sd facilities reside on. Additionally as you read these 90+ pages you can come to the conclusion that any Health related services will be determined and rationed by the Govt for our senior citizens and others in nursing homes. This one post should do enough to raise awareness of the control the Govt is exerting over the older population of American citizens.
* PG 620 Line 1-9 The Government will define, prioritize, and nationalize your Health Care Services.
* PG 621 Lines 20-25 Government will define what Quality means in HealthCare. Since when does Government know about quality?
* PG 622 Lines 2-9 To pay for the quality Standards Government will transfer $$ from to other Government Trust Funds. More Taxes.
* PG 624 “Quality=E 2 measures shall be designed to assess outcomes & functional status of patients.
* PG 628 Section 1443 Government will give “Multi-Stake Holders” Pre-Rule Making input into Selection of “Quality” Measures.
* PG 630 9-24/631 1-9 Those Multi-stake holder groups including Unions & groups like ACORN deciding HealthCare quality.
* PG 632 Lines 14-25 The Government may implement any “Quality measure” of HealthCare Services as they see fit.
* PG 633 14-25/ 634 1-9 The Secretary may issue non-endorsed “Quality Measures” for Physician Services & Dialysis Services.
* PG 635 – 653 Physicians Payments Sunshine Provision – Government wants to shine sunlight on Docs but not Government.
* PG 654-659 Public Reporting on Health Care-Associated Infections – Looks okay.
* PG 660-671 Doctors in Residency – Government will tell you where your residency will be, thus where you’ll live.
* PG 676-686 Government will regulate hospitals in EVERY aspect of residency programs, including teaching hospitals.
* PG 686-700 Increased Fu nding to Fight Waste, Fraud, and Abuse. You mean the Government with an $18 mil website?
* PGs 701-70420Section 1619 If your part of HealthCare plan that isn’t in Government HealthCare Exchange but you qualify for Federal aid, no payment.
* PG 705-709 SEC. 1128 If Secretary gets complaints (ACORN) on HealthCare provider or supplier, Government can do background check.
* PG 711 Lines 8-14 The Secretary has broad powers to deny HealthCare providers/suppliers admittance into HealthCare Exchange.
* Pg 719-720 Section 1637 ANY Doctor who orders durable medical equipment or home medical services MUST be enrolled in Medicare.
* PG 722 Section 1639 Government Mandates Doctors must have face-to-face with patient to certify patient for Home Health Services.
* PG 724 23-25 PG 725 1-5 The same Government certifications will apply to medicaid & CHIP (your kids) Pg 735 lines 16-25 For law enforcement purposes, the Secretary of Health & Human Services will give Attorney General access to ALL data.
* PG 724 Lines 16-22 Government reserves right to apply face-to-face certification for patient to ANY other HealthCare service.
* PG 740-757 Government sets guidelines for subsidizing the uninsured (That’s your tax dollars peeps)
Pg 757-762 Fed Government will shift burden of payments to Disproportionate Share Hospitals (DSH) to States. (Taxes)
* PG 763 1-8 No DS/EA hospitals will be paid unless they provide services without regard to national origin
* Pg 765 Section 1711 Government will require Preventative Services including vaccines. (Choice?)
* Pg 768 Section 1713 Government – Nursing Home Visitation Services (Hello union paybacks)
* Pg 769 11-14 Nurseing Home Visit Services include-economic self-sufficiency, employment advancement, school-readiness.
* Pg 769 3-5 Nursing Home Visit Services – “increasing birth intervals between pregnancies.” Government Abortions anyone?
* Pg 770 SEC 1714 Federal Government mandates eligibility for State Family Planning Services. Say abortion & State Sovereign.
* Pg 789-797 Government will set & mandate drug prices, controlling which drugs will brought to market. Goodbye innovation.
* Pgs 797-800 SEC. 1744 PAYMENTS for grad medical education. The government will now control Drs education.
* PG 801 Sec 1751 The Government will decide which Health care conditions will be paid. Say RATION!
* Pg 810 SEC. 1759. Billing Agents, clearinghouses, etc. required to register. Government takes over private payment system.
* PG 820-824 Sec 1801 Government will identify individuals ineligible for subsidies. Will access all personal finances.
* Pg 824-829 SEC. 1802. Government Sets up Comparative Effectiveness Research Trust Fund. Another tax black hole.
* PG 829-833 Government will impose a fee on ALL private health insurance plans including self insured to pay for Trust Fund!
* PG 835 11-13 fees imposed by Government for Trust Fund shall be treated as if they were taxes.
* Pg 838-840 Government will design & implement Home Visitation Program for families with young kids & families expecting kids.
* PG 844-845 This Home Visitation Program includes Government coming into your house & telling you how to parent!!!
* Pg 859 Government will establish a Public Health Fund at a cost of $88,800,000,000. Yes thats Billion.
* PG 865 to 876 The NHS Corps is a program where Drs. perform mandatory HealthCare for 2 years for part loan repayment.
* PG 876-892 The Government takes over the education of our Medical students and Drs.
* PG 898 The Government will establish a Public Health Workforce Corps. to ensure supply of public health professionals.
* PG 898 The Public health workforce corps shall consist of civilian employees of the U.S. as Secretary deems.
* PG 898 The Public health workforce corps shall consist of officers of Regular & Reserve Corps of Service.
* PG 900 The Public Health Workforce Corps includes veterinarians.
* PG 901 The Public Health Workforce Corps WILL include commissioned Regular & Reserve Officers. HealthCare Draft?
* PG 910 The Government will develop, build & run Public Health Training Centers.
* PG 913-914 Government starts a HealthCare affirmative action program thru guise of diversity scholarships.
* PG 915 SEC. 2251. Government MANDATES Cultural & linguistic competency training for HealthCare professionals.
* Pg 932 The Government will establish Preventative & Wellness Trust fund – initial cost of $30,800,000,000-Billion.
* PG 935 21-22 Government will identify specific goals & objectives for prevention & wellness activities. Control You!!
* PG 936 Government will develop “Healthy P eople & National Public Health Performance Standards” Tell me what to eat?
* PG 942 Lines 22-25 More Government? Offices of Surgeon General -Public Health Services, Minority Health, Women’s Health.
* PG 950- 980 BIG Governme nt core public health infrastructure includes workforce capacity, lab systems; health information systems, etc
* PG 993 Government will establish school based health clinics. Your kids won't have a chance.
* PG 994 School Based Health Clinics will be integrated into the school environment. Say Government Brainwash!
* PG 1001 The Government will establish a National Medical Device Registry. Will you be tracked?
* PG 1003 9-11 National Medical Dev Reg ‘‘(iii) other postmarket device surveillance activities” you WILL be tracked.
* PG 1018 States give up some of their State Sovereignty.
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Joined: 09 Jun 2008, 21:40

17 Aug 2009, 19:52 #3

I apologize for not posting something from a far-right-wing blog.


On coverage, all Canadians have insurance for hospital and physician services. There are no deductibles or co-pays. Most provinces also provide coverage for programs for home care, long-term care, pharmaceuticals and durable medical equipment, although there are co-pays.

On the U.S. side, 46 million people have no insurance, millions are underinsured and healthcare bills bankrupt more than 1 million Americans every year.

Lesson No. 1: A single-payer system would eliminate most U.S. coverage problems.

On costs, Canada spends 10% of its economy on healthcare; the U.S. spends 16%. The extra 6% of GDP amounts to more than $800 billion per year. The spending gap between the two nations is almost entirely because of higher overhead. Canadians don't need thousands of actuaries to set premiums or thousands of lawyers to deny care. Even the U.S. Medicare program has 80% to 90% lower administrative costs than private Medicare Advantage policies. And providers and suppliers can't charge as much when they have to deal with a single payer.

http://www.latimes.com/news/opinion/la- ... 8126.story
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Joined: 30 Dec 2008, 18:41

26 Aug 2009, 21:37 #4

Since my post of 8/19/2009 seems to have disappeared into the ether, or whatever, here's a reprint:
Now that we've heard from the LA Times on the status of health care in Canada, the following is the story directly from Canada. the link is:
http://blog.heritage.org/2009/08/17/how ... -canada-2/
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Joined: 24 Oct 2011, 18:32

24 Oct 2011, 18:58 #5

Just two more years or so until all of it becomes effective. It should be an interesting time until then as both sides continue to argue over it. I do look forward to the preexisting rule since I have a preexisting condition that has affected my health insurance premiums.
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Joined: 04 May 2012, 16:14

16 Nov 2012, 14:07 #6

mendomann wrote:I apologize for not posting something from a far-right-wing blog
Mendomann, I've been reading most of the discussions on this board with interest and appreciate the time you take for providing information. However, as a retiree primarily interesting in getting an objective view regarding current (and future) healtcare issues, I would like to gently encourage you to step back a bit from your politically charged posts and consider the fact that everybody who doesn't agree with you does not have to be a racist or a far-right-wing American. Maybe there are viable thoughts provided by posters with opposing ideas? Maybe there could be a separate forum for these politically influenced posts? Just curious.

I only insert this message as I notice most of your replies come back with you "swinging" at those who do not agree with your input, politcally. I would hope this board would be a place for everybody's input to be respected and considered.
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Joined: 09 Jun 2008, 21:40

16 Nov 2012, 19:10 #7

I made those posts 3 years ago. I think you have to get current.
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Joined: 04 May 2012, 16:14

16 Nov 2012, 20:54 #8

At least you didn't come back swinging. (lol)
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Joined: 09 Jun 2008, 21:40

17 Nov 2012, 20:19 #9

Obamacare is the law of the land and President Obama has been re-elected. Get over it.
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gk
Joined: 14 Jun 2008, 14:54

16 May 2014, 19:05 #10

RECENT ANNOUNCEMENT BY ALU

On Friday May 9, 2014 the Chief Financial Officer of Alcatel-Lucent made the following announcement during the 1st quarter earnings presentation:

“Announcement of intent to make a onetime offer to approximately 45,000 of our US retirees and former employees and related beneficiaries in our US Management Pension Plan, to convert monthly pension benefit payments into a single, lump-sum payment settling all outstanding pension liabilities relating to such offeree. Offer expected to be made in 2015 and to be exclusively funded out of US pension plan assets.”
The above announcement is all of the information that the LRO has at this time, but we can provide some related information:

1.In the Annual Funding Notice (AFN) you recently received (discussion on our website) our Management Pension Plan is funded at about 108%.
2.In the same AFN they reported about 100,000 people in our plan at 1/1/2013. Therefore, the number of 45,000 does not include all of the plan participants. We do not, at this time, have any information about how the selection for the offer will be made.
3.It is our understanding that if an individual is already retired and receiving a pension that it is voluntary as whether you continue to receive your monthly pension or take a lump-sum. We believe that is covered by ERISA.
4. At this time we also do not know how they will handle survivor benefits or supplemental pensions in the lump-sum calculation.
5. We would also want to know what impact this may have on our healthcare benefits and our group life insurance.
6. A lump-sum payment transfers two risks from the company to the retiree, life expectancy and earnings on the lump-sum. The lump-sum is calculated based on published life expectancy and those who live longer could use up their pension assets. A person taking the lump-sum would need to earn as much on the lump-sum assets as the percentage used to discount the lump-sum.
From the above we caution all of our members to be patient until we know more. Since the offer is not being made to all of our plan participants, it is possible you may not be affected. The LRO Officers will ask for a meeting with the ALU Human Resource people once the formal announcement is made. It is possible that ALU may have a number of meetings to provide additional information and the LRO could have a number of retiree meetings on this matter.
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