NBA union to fund health care for retirees
‘ UNPRECEDENTED’
NBA players have recently made headlines for raking it in, as a new TV contract has led to massive, eyebrowraising deals for even average performers. Now those players have made an unprecedented decision to share some of that fortune with their NBA predecessors by funding health care for many of them.
The NBA Players Association made the announcement Wednesday that it will provide health insurance for retired players who spent at least three years in the league.
The program is the first of its kind among North American professional sports.
“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 Clippers guard Chris Paul, the NBAPA president. “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 wellbeing of our predecessors.”
The proposed program would be administered through United Healthcare and would include these features, according to the NBAPA:
❚ Retired players with between three and six years of NBA service time but who are not yet eligible for Medicare would be offered medical, hospital and prescription drug coverage with “modest” out- of- pocket costs for deductibles and co-pays.
❚ Those with between seven and nine years of service would be offered the same coverage with lower out- ofpocket costs.
❚ Retired players with at least 10 years of service would be offered the same coverage as the seven-to-nine-year players, and would also receive coverage for their families.
❚ Retired players with three to 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-plus years of service would receive this coverage for their spouses, as well.
At an average of 4.8 years ( according to recent numbers compiled by RAM Financial Group), NBA players have the second-shortest careers among the four major U. S. sports leagues, greater than those of NFL players ( 3.5) but less than those of athletes in the NHL (5.5) and MLB (5.6).