Here’s another little jewel tucked away in Obama’s Un-Affordable Care Act.
More union workers, city workers, county workers, etc. will be able to retire early. This is now possible because YOU will be stuck with paying for their healthcare under the democrat’s new health care law.
This was discovered by RepandProudofit at Free Republic:
The health care bill gave Health and Human Services a $12 Billion slush fund designed to help people who decide to retire early, i.e. before 65, Medicare age.
From the Healthcare.gov website:
Rising health care costs have made it difficult for employers and unions to provide quality, affordable health coverage for workers and retirees while also remaining competitive in the global marketplace. The percentage of large firms providing workers with retiree health coverage dropped from 66 percent in 1988 to 29 percent in 2009.1. Many Americans who retire before they are eligible for Medicare without employer-sponsored health coverage see their life savings disappear because of medical bills and exorbitant rates in the individual health insurance market. Health insurance premiums for older Americans are over four times more expensive than those for young adults,2, and the deductible these enrollees pay is, on average, almost four times that in a typical employer-sponsored insurance plan.3
The Affordable Care Act creates a new program called the Early Retiree Reinsurance Program to help address this challenge that employers and older employees are facing. The Early Retiree Reinsurance Program (ERRP) provides much-needed financial relief to businesses, schools and other educational institutions, unions, State and local governments, and non-profits, in order to help retirees and their families continue to have quality, affordable health coverage.
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Here is the list of the “employers” who have qualified for the supplements so far. Note that the “employers” on the list are mostly unions, cities, counties and colleges. Dems knew this would be the case when they wrote the bill by making supplements available only to employers who continue providing health coverage to workers who retire early, before Medicare age. How many private companies do that?
Basically, this is based on the argument that people deserve to retire early and you and I should help them pay for their health care insurance.