H.R. 1322 would amend title I of the Employee Retirement Income Security Act of 1974 to provide emergency protection for retiree health benefits.
Detailed Summary
Emergency Retiree Health Benefits Protection Act of 2007 - Amends the Employee Retirement Income Security Act of 1974 (ERISA) to add a program for emergency retiree health benefit protections.
Prohibits group health plans from reducing retiree health benefits after the retirement of a plan beneficiary. Requires such plans to adopt provisions barring post-retirement reductions in retiree health benefits.
Requires group health plan sponsors to grant retired plan participants the option of benefit restoration. Authorizes the Secretary of Labor to waive or vary requirements for benefit restoration if compliance with such requirements would: (1) be adverse to the interests of plan participants in the aggregate; (2) not be administratively feasible; and (3) cause substantial business hardship to plan sponsors.
Establishes the Emergency Retiree Health Loan Guarantee Program. Authorizes the Program to guarantee loans provided by private financial institutions to assist plan sponsors in meeting benefit restoration obligations under this Act. Terminates loan guarantee authority after 2013.
Authorizes the Secretary to assess civil penalties for violations of this Act.
Status of the Legislation
Latest Major Action: 6/5/2007: Referred to House subcommittee. Status: Referred to the Subcommittee on Health, Employment, Labor, and Pensions.
Points in Favor
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Points Against
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Visitor Comments
Brunno
Does a Senator or a Congressman lose his/her government provided health care coverage after they leave Congress?
Anthony S. Jarvis
Retiree health care insurance was a part of a compensation package agreed upon by employes and their employer. This benefit was in lieu of wages. Thus, it is benefits earned over the years of work, not a perk given free gratis by the employer. Also, it was an incentive to remain with that employer rather than seeking higher wages elsewhere. The agreement must not be reduced, abridged or mitigated.
Anthony S. Jarvis
Charles F. McGuire
Congress must act on this bill with haste. More and more corporations are stealing from their retirees, by reducing and eliminating hard earned benefits. The comments by Mr Jarvis are accurate. The health care benefits were earned by the employees in lieu of wages. These benefits should be protected the same as a pension plan. Our elected officials have protected their plan and it is time to protect the plans of their constituents.
Charles F McGuire
Charles F. McGuire
The title of this bill has the word "EMERGENCY" in it yet there has been little or no movement since it was introduced. What gives?
[handle and identifying info removed at commenter request - Webmaster]
I worked for a FORTUNE 100 COMPANY, AT&T, for 35+ years.
After retiring [recently,] I found out that my wife of 26 years would not be covered under the RETIREE MEDICAL ASSISTANCE PLAN.
We vote for a PRESIDENT, CONGRESSMAN, SENATOR, ETC...
I bet they do not have to worry about MEDICAL COVERAGE for their SPOUSE once they retire.
If they are good enough to be covered under medical insurance once retired, why can't normal citizen's like myself BE AFFORDED THE OPPORTUNITY for similar medical coverage.
So folks seem to think that HIGH GAS PRICES are the number one issue facing American's. I say the number one issue is the lack of affordable medical coverage for those like myself who worked 35+ years for a Fortune 100 Company, and will be forced to spend retirement funds towards medical insurance.
To me it does not seem fair that one would work for the same company for 35+ years and have their hard earned medical benefits removed once they retire.
Harry Mundy
Congress needs to get the ball rolling on this legislation that will ensure that retirees that spent 35-40 years of their lives working for large corporations do not lose their Medical Insurance Coverage.
Benefits were acquired in lieu of real wages, not just given by the graciousness of employer. In the same way, our votes are cast for candidates who earn our respect through action and accomplishment.
Congress must act on this legislation, or I for one will be taken action on November 4, 2008.
Richard Subora
I worked for Gm for Forty years and always felt that my health benefits were part of my compensation package.GM also considered health benefits part of total compensation because they reminded us of this each and every time we were given a merit raise. "Sorry the raise couldn't be more but you know that you health benefits are a big part of your compensation." That's whar we were told. Come on Congress give us some help and do it quickly.
Lynn Riner
ALl of the commentators above are correct. Companies must not be allowed to hide behind "subject to change without notice" phrases. Benefits were earned by employees who dedicated their working lives to these companies. Congress must act NOW to protect us as they protect themselves.
Jack4KOOA
To view more information on this bill visit www.overthehillcarpeople.com
laura clark
All my health problems are from General Motor 37 years of stress working with all kinds of cheminals
betty kelp
the bill is phony as congress. it does not give you protection when the companies go out of business or is sold to others. wake up folks this is our congress bill.
bill cauffman
I was promised by General Motors that as part of my employment I would have medical, dental and eye care for the rest of my life. After 31 years of beleving GM has found a way to renige on their promise at a time in my life when I need it the most.
Roy Lindsey
I worked almost 31 years with GM. I always gave a good days works and more believing in GM and that my wife & I would always be taken care of by my GM pension & health care. After becoming 62 I gave up $1200 of my pension, I assume as my retirement agreement w/GM? Now I will be losing my health benefits! I have always supported GM but this just isn't right!
gary knode
In 2000, when GM outsourced our jobs, one of the options was to take early retirement. With that option was the promise that health care would be given to us for the rest of our life. I thought a promise was a promise - evidently not. Okay Congress, give us some help by acting on this legislation.
Paul Huggins
Corporate America has no heart! no morals! I worked for a very large public employee union for over 26 years, they are doing the same thing to all the retirees who worked all our lives to protect the rights and benefits of our members and now our own union is hafting us by actively proceeding with reducing the benefits of long term employees who are retired.
Don't look to the "Republicians" to help out because, that isn't going to happen. they represent the corporate fat cats/campaign contributors to the party.
Paul Huggins retiree and getting more poor by the day.