If the U.S. Postal Service is successful in its plan to withdraw from the Federal Employees Health Benefits Program (FEHBP), tremors will be felt throughout the federal workforce.
Pulling out is one of the key elements in a radical new set of proposals by the Postal Service, whose financial foundation has been badly shaken by $20 billion in net losses over four years, including an $8.5 billion loss for fiscal 2010.
In addition to quitting the FEHBP in order to create its own health insurance plan, the Postal Service wants to develop its own retirement program and permission to circumvent no-layoff provisions in labor contracts. All of this would require legislation.Read full article >>