RSEA Legislative UpdateMay 12, 2015
HOUSE VOTES ON HB 42 (COLA BILL)May 28, 2015
The 3rd reading and final passage of our COLA bill (HB 42) is today, May 26, 2015.
It is not too late to call your local Representative and ask for his/her support on HB 42. Click on the link below to find YOUR Louisiana Representative.
If you would like to watch HB 42 on the House Floor, please click on the link below. The Floor is scheduled to convene at 2:00 p.m. today.
Here are some reasons why we are asking for a COLA:
- Inflation increased by 2.1% in 2014.
- The average benefit increase to be implemented by this legislation for eligible members of LASERS will be in the neighborhood of $30.00 per month before taxes.
- The Office of Group Benefits has indicated premiums for medical insurance will increase 12% on July 1, 2015. That means a retiree, who is not Medicare eligible, participating in the Magnolia Local Plus Plan, will be paying an additional $16.83 per month for single coverage and up to $58.00 additional per month on a family plan for their health insurance coverage.
- Physician copays have increased – from $15.00 to $25.00 for general practitioners, and from $25.00 to $50.00 for specialists.
- Prescription drug copays have also increased on certain medicines.
- Retiree COLAS have only been granted twice since 2008 totaling 4.5% in 7 years.