Alliance for Retired Americans Blog

Seniors for Financial Reform

This week, Nevada Alliance President Scott Watts joined Senator Harry Reid on a statewide conference call on financial reform.

On the call, Watts said:

"We are very concerned, very concerned, about 'business as usual' on Wall Street and how it affects Nevada's retirees and seniors.

"We are on fixed incomes. Stronger protections are especially needed for retirees and older workers. We have been at risk and we need protections that look out for our pensions, 401Ks, savings and provide a real retirement security without the traps and schemes. This is part of the change we voted for.

"Retirees and older workers don't have the time to make up for losses caused by schemes or speculations because we are either not working, working part-time or only have a few years left in the workforce."

Download Remarks by NARA President Scott Watts

Yesterday, Alliance President Barbara Easterling joined Senators Harry Reid, Chris Dodd and Sharod Brown at the U.S. Capitol for a press conference on a Financial Reform Bill. 

Easterling said that the Financial Reform Bill is crucial to seniors. She said it would strengthen their retirement security which has been devastated in recent years.

 Barbara Easterling expressed strong support for S. 3217 and stressed "It's time for certain Senators to act in the best interests of people, not profits."

Download Easterling Financial Reform Release Remarks

The reasons Easterling gives for Alliance support include that the bill

• Requires the terms and conditions of loans and credit cards be written in plain English. 
• Puts in place strict new rules to protect seniors from gimmicks and predatory lending. 
• Creates a powerful new federal watchdog to stand on the side of consumers. 
• Provides badly-needed financial education to people of all ages, including seniors.

Read Roll Call article from yesterday "Seniors Lobby for Wall Street Bill"

CEO Pay at the Big Health Insurance Companies: Enough to Make You Sick

According to new data from the AFL-CIO’s Executive Pay Watch, none of the big health insurance CEOs need to clip coupons to make ends meet.  A few examples of annual Chief Executive pay: Aetna - $24.3 million; Travelers - $20.6 million; Cigna - $18.8 million; and Prudential - $18.4 million.  “For too long
our health care system took better care of CEOs than it did patients.  The new health law will start to change this,” said Ruben Burks, the Alliance’s Secretary-Treasurer Ruben Burks. 

For more information on CEO pay in different sectors, visit the AFL-CIO’s Executive Paywatch site.

Today the truth strikes back! Help the cause ~

Big insurance companies are spending millions of dollars to frighten seniors about health care reform. 
 
Their scare-tactics are intended to kill urgently needed changes to a health insurance system that rewards corporations that deny care and increase premiums.
 
This ad (below) is going up today, aimed at Senators who are wavering in their support of health care reform.

Please click here to help us get the word out to more seniors.

Spread the word about this to your friends and allies (even add it to your Facebook page, etc.)!

MSNBC - Seniors & Health Reform

Last Thursday, Alliance Executive Director Ed Coyle went up against Jim Martin (President of the 60 Plus Association) on Dr. Nancy Snyderman's show. Watch the debate here:

 

Several months ago, Rachel Maddow discussed the wonders of the 60 Plus Association. Find out what she said here:

 

 

Nevada Retirees Resist Cuts to Health Benefits

In October, Nevada Energy called a meeting for about 300 retirees in Reno announcing a massive cut in retiree health care benefits. Nevada Energy refused to negotiate with Local 1245 about benefits under the contract expiring later this year and has unilaterally decided to set up a defined medical insurance benefit caps the company's share of health care insurance costs at the 2009 level and force all retirees to pick up any future increases.

Nevada Energy retirees (at right) decided to organize to defend themselves and other retirees who had worked many years to retire with dignity. (Photo courtesy IBEW)

Before 1998, the electrical workers' union (IBEW Local 1245) negotiated for the company to pick up 100 percent of medical insurance benefits for retirees. That changed in 1998, when prospective retirees agreed to pick up 20 percent of the cost of their health insurance premiums in exchange for an early retirement plan that would allow workers to retire at age 55 if they had 30 or more years of service. The situation would change significantly for retirees if Nevada Energy's plan to cap health benefits starting January 1 goes through.

"It used to be if you were loyal to the company, they were loyal to you," said Mickie Baryol, who retired last year as an Auto-CAD draftsman and is currently active in defending the rights of Nevada Energy retirees.

Full article here.

Last month's news clip here.

Nevada Seniors File Complaint with AG

Nevada Alliance for Retired Americans President Scott Watts filed a complaint into Nevada Attorney General Catherine Cortez-Masto’s office Monday and requested an investigation into who is really behind misleading TV ads that attack U.S. Rep. Dina Titus (NV-3) for supporting the Affordable Health Care for America Act.

The complaint asks to AG to look into whether any insurance companies licensed to do business in Nevada helped fund the misinformation campaign from the shadowy special interest group “60 Plus Association,” and if so, to direct them to stop funding any further communications that intentionally mislead policyholders and determine whether these companies should disclose their vested financial interest in blocking passage of health insurance reform.

Watts noted in the complaint:

“The inflammatory ads make claims about the legislation’s effect on Medicare recipients that are confirmed by numerous nonpartisan sources to be blatantly untrue. The group who is running the ads, 60 Plus, claims to be a nonprofit, nonpartisan organization speaking for a grassroots movement of senior citizens.”

“If insurance companies licensed to do business in Nevada are indeed behind this group, we would request they be enjoined from doing so if their donations support communications that intentionally misleading policyholders about choices that will affect their health and health care access. Insurance companies have a fiduciary and contractual duty to their insured to provide accurate information as it pertains to their health or health care…”

“We also request a determination as to whether insurers licensed in Nevada should be required in all communication with policyholders, either directly or through a front group, to disclose their vested financial interest in blocking passage of health insurance reform and particularly in keeping out competition from a proposed public option. Such a disclosure is vital to policyholders making informed choices in support of or against health care reform and therefore informed choices about their health.”

Fact check:

Health care reform will NOT hurt Medicare.

None of the health care reform proposals being considered by Congress would cut Medicare benefits or increase out-of-pocket costs for Medicare services.

Health care reform will lower prescription drug costs for people in the Medicare Part D coverage gap or "donut hole" so they can get better afford the drugs they need.

Health care reform will protect seniors' access to their doctors and reduce the cost of preventive services so patients stay healthier.

Health care reform will reduce costly, preventable hospital readmissions, saving patients and Medicare money.

Rather than weaken Medicare, health care reform will strengthen the financial status of the Medicare program.

Download Press Release - 60 Plus Letter

Some Points on Health Care Reform Costs & H.R. 3962

· The House health care reform bill will extend the life of the Medicare Trust Fund by five years, significantly longer than any other recent proposal.

· Out-of-pocket spending will decline by more than $200 billion by 2019.

· H.R. 3961, companion legislation to H.R. 3962, will improve how physicians receive Medicare reimbursements, allowing older Americans the ability to keep their choice of doctor.

· Overall, national spending on health care would increase by less than 1.3% over the next decade, even though millions of additional people will gain coverage.  Without health care reform, health care costs are expected to rise at rates double that of inflation, growing every year as a larger share of the Gross National Product.

· The bill will help retirees right away.  For example, in 2010, Medicare beneficiaries will no long have to pay co-payments for screenings for cancer, diabetes, and osteoporosis.

· The Medicare Part D doughnut hole coverage gap for prescription drugs will immediately close by $500 and will be phased out. 

· More screenings and preventive care are associated with a longer lifespan, which will increase costs slightly - it is the price of staying alive longer!

· In addition, early retirees, who are not old enough for Medicare, will get help keeping or finding affordable health insurance.

· The elimination of pre-existing conditions as a basis for denial of coverage, along with the creation of a public option, will benefit pre-Medicare eligible retirees.
 
· The bill requires the Secretary of Health and Human Services (HHS) to negotiate drug prices on behalf of Medicare beneficiaries, cutting costs for everyone.

· Hospitals and nursing homes will still need Medicare patients as part of their business.

· Insurance and drug companies are increasing their prices BEFORE health care reform passes, because they fear the competition health reform will provide.  Drug companies are raising prices by 9% this year, even though the Consumer Price Index has fallen 1.3% in the last year.

California Seniors Blast Humana

This Tuesday, days after America's Health Insurance Plans (AHIP), the national insurance trade industry association, unveiled it's second massive advertising campaign aimed at sabotaging health insurance reform and deceiving seniors about their benefits, more than two dozen California Alliance for Retired Americans seniors called on the health insurance industry to stop attempts at scaring seniors with disinformation about health insurance reform to protect its bottom line.

Last week Humana reported a 65% jump in third quarter profit as soaring Medicare Advantage premiums and membership overcame the company’s slumping commercial business.

California seniors delivered a letter to the regional headquarters of AHIP member company Humana, calling on the company to stop participating in the AHIP ad campaign and to end its own highly controversial outreach to seniors about health insurance reform.

Humana was found in violation of Medicare rules for "misleading beneficiaries" when it sent deceptive mailers to at least 900,000 retirees, warning their benefits would be at risk if reform passed.

Humana receives federal subsidies for Medicare Advantage plans that cost 14% more than traditional Medicare offering similar services.  The California Alliance for Retired Americans (CARA) seniors discussed how reducing these overpayments will strengthen Medicare by reducing prescription drug costs, making preventive care free of charge and securing the Medicare Trust Fund.

According to CARA Vice President Hene Kelly, removing the windfall overpayments to private Medicare profiteers like Humana is as essential as fighting for a strong public option in the final Senate bill.  He said, "Humana’s behavior is unacceptable.  Seniors like myself know the truth about health insurance reform and are working harder than ever to cut wasteful government subsidies to insurance companies and to push real health reform.  Seniors will benefit from significant health insurance reform and the big health insurance industry will not stop us!"

More photos here.

1984

Virginia Foxx (R-NC) said yesterday on the House floor that a health reform bill is a greater threat to our country than any terrorist organization.

 

Sounds like fiction to us.

 

URGENT! CALL CONGRESS

Download Call in On October 7th_1

Join Alliance for Retired Americans members across the country and call your member of Congress now on health care reform!

October 7th is National Call-in Day for Health Care Reform! Call toll-free at 1-877-323-5246

During the coming weeks, the full United States Senate and House of Representatives will debate and vote on health care reform. We must tell them we are counting on them to make Medicare,
prescription drugs, and health reform work for us.

Congress needs to hear from us in loud, strong voices. We've seen how the big drug and insurance companies are already trying to stop health care reform.

Call today and ask your members of Congress to enact health reform that:

- Has a public plan option. It will make coverage more affordable, make private plans more competitive and drive quality improvements in the health care system.
- Does not tax health benefits. Taxing benefits could actually cause a reduction in coverage, and it would penalize retirees, active workers and employers who have coverage.
- Allows 55-64 year old retirees to buy into Medicare at affordable premiums. Five million Americans need this coverage now.
- Closes the Medicare doughnut hole. Seniors need drug coverage all year long.
- Includes the CLASS Act (S. 697 and H.R. 1721). It is an important first step in addressing long term care needs.
- Eliminates Medicare Advantage overpayments.

For more information on participation, please call: 1-888-373-6497, option #1, or email ARAorganizing@retiredamericans.org.

Pictured: Bob Meeks of Florida Alliance for Retired Americans