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Release Date: February 13, 2006
Release Number: 06-264-CHI
Contact Name: Gloria Della/David James
Phone Number: 202.693.8664/202.693.4676
Focus Is President Bush’s Retirement and Health Care Agenda
Grand Rapids, Michigan - U.S. Assistant
Secretary of Labor Ann L. Combs spoke to members of the American Society
of Pension Professionals and Actuaries (ASPPA) in Grand Rapids,
Michigan, today to highlight the Bush Administration’s priorities to
encourage retirement security and make healthcare more affordable for
American workers, retirees and their families.
“Retirement security and the rising cost of health
care are on everyone’s minds these days,” Combs told the audience.
“President Bush’s agenda includes proposals to strengthen the
private pension system and improve access to affordable, quality
healthcare for Americans.”
Combs emphasized the Administration’s plans to
reform the single-employer, defined benefit pension system that covers
34 million Americans. She stressed that reforms strengthening the
funding rules, improving disclosure to workers, and shoring up the
federal insurance system must be enacted to ensure that pension promises
made by employers to workers are kept.
She went on to point out that, “The President has
made it clear that he won’t sign legislation that is weaker than
current law. We want real reforms that strengthen the private pension
system.”
Combs also discussed the Administration’s proposals
to increase access to affordable, quality health care through the use of
Health Savings Accounts and the enactment of Association Health Plan
legislation. Health Savings Accounts are tax-favored savings accounts
used in conjunction with a consumer-directed, high-deductible health
plan.
“Putting the consumer back into the equation in
health care will dramatically change the market and lead to better price
transparency and competition – driving health care costs down.”
Combs also said, “President Bush strongly supports legislation to
create Association Health Plans.”
Association Health Plans - benefit arrangements
offered through industry associations - would allow small businesses to
enjoy the same advantages, administrative efficiencies and negotiating
clout enjoyed by big businesses and labor unions.
For more information about the Administration’s
pension reform and health initiatives, visit the Labor Department’s
Web site at www.dol.gov/ebsa.
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