Today @OversightDems and @GOPoversight are releasing our discussion draft of bipartisan postal reform legislationhttps://www.youtube.com/watch?v=RyvtKJPjr0M&feature=youtu.be …
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Replying to @RepStephenLynch
Proud to join
@jasoninthehouse@RepCummings@GerryConnolly@RepMarkMeadows in this important postal reform effort.pic.twitter.com/oHOzoTJRyf
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Replying to @RepStephenLynch
In Fiscal Year 2015, the Postal Service reported total healthcare costs of $13.6 B including $8.8 B in retiree health costs alone.
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Replying to @RepStephenLynch
The Postal Service currently spends approximately 20 cents of every revenue dollar on healthcare.
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Replying to @RepStephenLynch
Postal employees and retirees have paid over $29.4 billion into Medicare but are not drawing on the benefits that they’ve already paid for.
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Replying to @RepStephenLynch
However, postal employees are not currently required to enroll in Medicare once they are eligible.
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Replying to @RepStephenLynch
This is costly for the Postal Service and its employees/retirees because non-participation shifts claim costs from Medicare to FEHBP.
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Replying to @RepStephenLynch
Agreement would establish postal-specific health plans within FEHBP that would be fully integrated with Medicare beginning in January 2018.
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Replying to @RepStephenLynch
Medicare integration would eliminate onerous requirement from 2006 that the Postal Service prefund healthcare costs for future retirees.
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Medicare integration would eliminate 94% of the Postal Service’s unfunded retiree health benefit liability.
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Replying to @RepStephenLynch
It would also reduce expenses by $38 billion over the next 10 years.
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Replying to @RepStephenLynch
Thank
@USPS 4 major postal employee unions & key mailing industry associations for coming together on joint proposal of Medicare integration1 reply 1 retweet 2 likes - 1 more reply
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