Potential Tab For California’s Retiree Health Care: $6.6 Billion
The state spends $2 billion a year on health care for retired state employees, but according to a new report it would have to spend more than three times that amount to fully cover current health care costs and chip away at its $80.3 billion unfunded liability for future health care obligations.
The Sacramento Bee:
State Retiree Health Care Could Cost California $6.6 Billion A Year
California is spending more than $2 billion a year on health care for retired state employees – up more than 80 percent in the last decade, according to Gov. Jerry Brown’s latest budget. However, the state would have to spend over three times as much – $6.6 billion a year – to fully cover current health care costs and whittle down its $80.3 billion unfunded liability for future health care obligations, according to a new report from Pew Charitable Trusts. (Walters, 5/11)
Meanwhile, the Los Angeles Times answers questions about the state's new aid-in-dying law, doctor-backed Prop 30 will be on the ballot in November and analysts say the financial impact of a different initiative is unclear —
Los Angeles Times:
How California's Aid-In-Dying Law Will Work
Starting June 9, terminally ill Californians can request prescriptions from physicians for medications that would end their lives. Here are questions and answers about the End of Life Option Act. (Karlamangla, 5/12)
Capital Public Radio:
Prop 30 Income Tax Increase Extension Likely Headed To Voters
Californians will likely decide this fall whether to extend the Proposition 30 income tax increases on the rich that voters approved in 2012. A coalition of interest groups said Wednesday it’s turning in enough voter signatures to place a measure on the November ballot. The initiative’s backers include unions, school groups, doctors and hospitals – all of whom say their programs would suffer if the tax increases expire as scheduled in 2019. (Adler, 5/11)
California Healthline:
Will Rx Ballot Initiative Save Money? Report Offers An Educated Shrug
It is “highly uncertain” how much money the state of California would save if a ballot measure to cap drug prices passes in November — and it might not save money at all. That’s the key finding in a preliminary report by the Legislative Analyst’s Office. The ballot initiative, known as the Drug Price Relief Act, would prohibit the state from paying more for a prescription drug than the lowest price paid by the U.S. Department of Veterans Affairs. The VA is thought by proponents of the measure to get the best bargains from drug companies. (Ibarra, 5/11)