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Healthcare: High Costs Force States to Cheat on Retiree Benefits

<p class&equals;"p1"><span class&equals;"s1">A handful of state governments are eliminating or reducing the health benefits they once offered to state workers&period; <&sol;span><&sol;p>&NewLine;<p class&equals;"p1"><span class&equals;"s1">The cuts come in response to growing medical costs&comma; the aging of the American workforce&comma; and new rules which force governments to be more transparent about how much they owe&period; <&sol;span><&sol;p>&NewLine;<p class&equals;"p1"><span class&equals;"s1">According to the latest report from the American Legislative Exchange Council &lpar;ALEC&rpar;&comma; nearly all states are unable to afford the retiree health benefits and pensions they promised employees&period;<&sol;span><&sol;p>&NewLine;<p><strong>The same report found that the<span class&equals;"s1"> average US pension is funded at about 35&percnt; of what it should be&period; <&sol;span><&sol;strong><&sol;p>&NewLine;<p class&equals;"p1"><span class&equals;"s1">&OpenCurlyDoubleQuote;Pension liabilities are really the existential financial threat facing state and local governments today&comma;” says ALEC economist Jonathan Williams&period; &OpenCurlyDoubleQuote;This is a huge crowding-out area for states&comma; in that pension obligations will threaten future core government areas of spending such as healthcare&comma; transportation&comma; and education&period; And they also threaten future tax increases&period;”<&sol;span><&sol;p>&NewLine;<p class&equals;"p1"><span class&equals;"s1">Because the legal protections for pensions tend to be strong&comma; officials in several states are taking aim at retiree benefits to cut down on debt&period; <&sol;span><span class&equals;"s1">States like Texas&comma; Michigan&comma; and Connecticut have already pushed workers out of the system by increasing<&sol;span><span class&equals;"s1"> premiums&comma; reducing benefits&comma; and tightening eligibility requirements&period; <&sol;span><&sol;p>&NewLine;<p>Kansas was more aggressive&comma; announcing in 2017 its decision to charge retirees the full cost of healthcare coverage&period; The policy caused <span class&equals;"s1">75&percnt; of participants to drop out and pushed the state’s retiree healthcare liability down from &dollar;6&period;1 million to &dollar;508&comma;000&period;<&sol;span><&sol;p>&NewLine;<p class&equals;"p1"><span class&equals;"s1">North Carolina&comma; which struggles with a retiree healthcare liability of more than &dollar;28 billion&comma; will stop offering retiree healthcare benefits to workers hired in 2021 and beyond&period; <&sol;span><&sol;p>&NewLine;<p>&&num;8212&semi;<&sol;p>&NewLine;<p class&equals;"p1"><span class&equals;"s1">While these cuts may be states&&num;8217&semi; only option to avoid bankruptcy&comma; the changes are sure to make it harder for states to find employees&period; <&sol;span><&sol;p>&NewLine;<p class&equals;"p1"><span class&equals;"s1">&OpenCurlyDoubleQuote;It’s going to make a difficult situation even more difficult&comma;” says Charles Johnson&comma; who works as a corrections official in North Carolina&period; The facility is currently looking to fill 100 positions&period;<&sol;span><&sol;p>&NewLine;

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