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Wed May 26, 2010
Higher Costs For Texas Retirees
By KRWG News
Texas – The board of the Employees Retirement System of Texas has approved higher health care co-payments for participants as medical costs go up.
Board members cited unexpected higher health care costs and underfunding from the Texas Legislature.
The changes approved Tuesday in Austin take effect Sept. 1.
The plan provides health insurance for about 500,000 state retirees and workers and their dependents. The co-payment increase comes as Texas faces a projected budget shortfall as high as $18 billion next year.
Information from: Austin American-Statesman, http://www.statesman.com
Copyright 2010 The Associated Press.