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Author Topic: "...union bosses make promises that they can’t keep..." - HR3200 Union Bailout  (Read 1149 times)
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WhiskeyGirl
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« on: August 26, 2009, 08:23:05 AM »

Quote
Obamacare bails out union pension plans, too
By: Kevin Mooney

Union bosses who have mismanaged benefits for their own members are poised to receive a $10 billion bailout from U.S. taxpayers in the form of a “reinsurance program” that has been folded into the healthcare bill, according to the Workforce Fairness Institute (WFI).

Quote
Section 164 of the Affordable Health Choices Act of 2009 provides that the government pay 80 cents on the dollar to corporate and union insurance plans for claims between $15,000 and $90,000 for retirees age 55 to 64. Union health insurance funds only have about 30 cents available to cover each dollar of anticipated claims, according to the Lewin Group and other research outfits.

If this provision were to be passed as part of the overhaul package favored by the Obama Administration, the $10 billion figure would probably expand overtime as union plans continue to come under financial pressure, Packer said. 

“What we want to see is some kind of accountability,” she said. “These union bosses make promises that they can’t keep. I don’t know what exactly they are doing with union dues and other money but they seem to have hundreds of millions of dollars to spend every time there is a campaign. It’s the labor bosses that have put the companies over a barrel and extracted commitments that they know were unsustainable. Now they expect the taxpayers to bail them out and they use their own workers as victims.”

http://www.washingtonexaminer.com/opinion/blogs/beltway-confidential/Obamacare-bails-out-union-pension-plans-too--54816897.html

Where is the healthcare bailout for millions that rely on employer or private insurance?

Why shouldn't the union plans end just like employer and private insurance?

Isn't the government option good enough for unions?  The president?  Members of Congress?

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