Retiree Medical Premiums

        Several members have expressed concerns over the increase in the monthly premiums beginning in 2012 for coverage under the Retiree Medical Plan, administered by Aetna. Participants were notified in November 2009 in a mailing from Life Technologies that the premiums might change in the future. Then, in September and October of 2010, the company notified participants that they can expect yearly increases in the monthly premium cost retirees pay in 2011, 2012 and 2013. Specifically, the amount Life Technologies would pay of the total cost (called the company subsidy) would be decreasing over that time, which would then shift additional premium cost increases to the retiree. It is noteworthy that in advance of the activation of major aspects of the Patient Protection and Affordable Care Act, often referred to as Obamacare, 30% of U.S. corporations have already announced they will cancel retiree medical coverage.

        More companies are expected to follow. Life Technologies has no legal obligation to offer the Medical Plan to retirees and is entitled to cancel at any time. However, the company has agreed to continue the coverage through 2013. Annual cost to Life Technologies to administer the Plan is several million dollars. Participants are being advised to begin looking for an alternate plan for supplemental coverage in case Life Technologies decides to cancel the coverage in 2014. Questions pertaining to the Medical Plan should be directed toll-free to the Benefits Resource Center at 1-855-236--5433.