If the U.S. Postal Service is successful in its plan to withdraw from the Federal Employees Health Benefit Program (FEHBP), it would have ramifications for the entire federal workforce.
Pulling out of the program was one of the key points in a new set of proposals the Postal Service is pushing to deal with structural financial problems that have led to $20 billion in net losses over four years, including an $8.5 billion loss for fiscal year 2010.
A key question for USPS is “how do you control health care costs going forward,” Postmaster General Patrick R. Donahoe said in an interview. “Currently, the Postal Service spends $7.3 billion on heath care for about 1 million employees, retirees and their dependents.”Read full article >>