The National Basketball Players Association has talked for more than a year about covering medical expenses for retired players.
Today, the union announced a formal plan.
NBPA release:
The National Basketball Players Association (NBPA) announced today that its player representatives have voted unanimously to fund health insurance for all retired NBA players with at least three years of service in the league. This program is the first of its kind among North American professional sports. It also exemplifies the NBPA’s focus on the health and welfare of its current, retired and future members.
“The game has never before been more popular, and all the players in our league today recognize that we’re only in this position because of the hard work and dedication of the men who came before us,” said Chris Paul, NBPA President and nine-time All-Star. “It’s important that we take care of our entire extended NBA family, and I’m proud of my fellow players for taking this unprecedented step to ensure the health and well-being of our predecessors.”
The unanimous vote – which took place during the NBPA Summer Meeting in New York on June 26 – established a multi-faceted health insurance program through UnitedHealthcare, the country’s leading health benefits provider. The current proposal includes:
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Retired players with between three and six years of NBA service time but who are not yet eligible for Medicare would be offered a plan that includes medical, hospital and prescription drug coverage with modest out-of-pocket costs for deductibles and co-pays;
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Those with between seven and nine years of service would be offered the same coverage with even lower out-of-pocket costs;
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Retired players with at least 10 years of service would be offered the same coverage as the seven-to-nine year players, and would include coverage for their entire family;
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Retired players with three-nine years of service who are eligible for Medicare would be offered a $0 deductible and $0 co-pay plan along with a low-cost prescription drug plan; those with 10+ years of service to receive this coverage for themselves and their spouse.
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The open enrollment period for retired players would begin this fall, with coverage beginning on January 1, 2017.
This is a good thing.
It also could become a bargaining point in Collective Bargaining Agreement negotiations. Should current players face the entire burden of insuring retired players, or should owners split the cost? (The fact that the question is even being posed paints players in a positive light.)
But back to the bigger point: This is a good thing. It’ll help retired players who need it, retired players who helped position the current generation to afford this. Kudos to the union for stepping up.
