NBA players union to fund health coverage for retirees
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The union representing National Basketball Association players will begin funding health insurance for retired athletes who played at least three years in the league.
The National Basketball Players Association voted unanimously in June to establish the retiree health insurance program, which will include medical, hospital and prescription drug coverage through UnitedHealthcare Services Inc., the players association said Wednesday in a statement.
Current NBA players will fund the insurance plan, with coverage beginning Jan. 1. 2017.
According to the statement, retired players who were in the NBA for three to six years but who are not yet eligible for Medicare will be offered medical, hospital and prescription drug coverage with “modest” out-of-pocket costs.
Those with seven to nine years of NBA service will be offered the same coverage with lower out-of-pocket costs.
Those who played at least 10 years in the NBA will be offered that lower-expense plan and will be eligible for family coverage.
Coverage for Medicare-eligible retirees who played in the league three to nine years will be eligible for a health plan with no deductible or copayment and a low-cost prescription drug plan. For Medicare-eligible players who played more than 10 years, that coverage will be extended to spouses.
"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,” union President Chris Paul, a point guard for the Los Angeles Clippers, said in the statement.
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