[Congressional Record Volume 148, Number 63 (Thursday, May 16, 2002)]
[Senate]
[Pages S4496-S4497]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]

      By Mr. AKAKA (for himself and Mr. Cochran):
  S. 2527. A bill to provide for health benefits coverage under chapter 
89 of title 5, United States Code, for individuals enrolled in a plan 
administered by the Overseas Private Investment Corporation, and for 
other purposes; to the Committee on Governmental Affairs.
  Mr. AKAKA. Mr. President, I rise today to introduce legislation to 
provide health care coverage under the Federal Employees Health 
Benefits

[[Page S4497]]

Program, FEHBP, to individuals enrolled in a health care plan 
administered by the Overseas Private Investment Corporation, OPIC. I am 
pleased to be joined by my good friend Senator Cochran in this 
endeavor.
  In the 1980s, a number of Federal banking-related agencies--including 
OPIC, the Office of Comptroller of the Currency, the Office of Thrift 
Supervision, and the Farm Credit Administration--established separate 
health insurance plans outside the FEHBP. The agencies were able to 
offer enhanced benefits at significantly lower costs because of the 
demographics of their workforce. However, increasing health care costs, 
an aging workforce, and an overall reduction in the Federal workforce 
has made it economically impractical for these agencies to maintain 
their separate programs. As a result, all of these agencies, except 
OPIC, discontinued their separate programs through legislation and 
transferred their employees to the FEHBP. Legislative action is needed 
because current law requires that Federal employees participate in a 
FEHBP plan for the 5 years prior to retirement in order to retain 
coverage after retirement.
  OPIC established its separate program in 1982 and discontinued 
offering the plan to new employees on January 1, 1995. There are 21 
retirees and 18 near-retirees who would be affected by the change. Due 
to the large costs involved in covering retirees in the FEHBP, OPIC 
would be required to pay the employees health benefits fund for the 
benefits provided by this legislation. OPIC has agreed to pay this 
amount from its existing appropriated resources. It is estimated that 
OPIC will save approximately $300,000 per year in premiums when the 
transfer occurs.
  I ask my colleagues to support this legislation and for unanimous 
consent that the text of the bill be printed in the Record.
  There being no objection, the bill was ordered to be printed in the 
Record, as follows:

                                S. 2527

       Be it enacted by the Senate and House of Representatives of 
     the United States of America in Congress assembled,

     SECTION 1. CONTINUATION OF HEALTH BENEFITS COVERAGE FOR 
                   INDIVIDUALS ENROLLED IN A PLAN ADMINISTERED BY 
                   THE OVERSEAS PRIVATE INVESTMENT CORPORATION.

       (a) Enrollment in Chapter 89 Plan.--For purposes of the 
     administration of chapter 89 of title 5, United States Code, 
     any period of enrollment under a health benefits plan 
     administered by the Overseas Private Investment Corporation 
     before the effective date of this Act shall be deemed to be a 
     period of enrollment in a health benefits plan under chapter 
     89 of such title.
       (b) Continued Coverage.--
       (1) In general.--Any individual who, on June 30, 2002, is 
     covered by a health benefits plan administered by the 
     Overseas Private Investment Corporation may enroll in an 
     approved health benefits plan described under section 8903 or 
     8903a of title 5, United States Code--
       (A) either as an individual or for self and family, if such 
     individual is an employee, annuitant, or former spouse as 
     defined under section 8901 of such title; and
       (B) for coverage effective on and after June 30, 2002.
       (2) Individuals currently under continued coverage.--An 
     individual who, on June 30, 2002, is entitled to continued 
     coverage under a health benefits plan administered by the 
     Overseas Private Investment Corporation--
       (A) shall be deemed to be entitled to continued coverage 
     under section 8905a of title 5, United States Code, for the 
     same period that would have been permitted under the plan 
     administered by the Overseas Private Investment Corporation; 
     and
       (B) may enroll in an approved health benefits plan 
     described under section 8903 or 8903a of such title in 
     accordance with section 8905a of such title for coverage 
     effective on and after June 30, 2002.
       (3) Unmarried dependent children.--An individual who, on 
     June 30, 2002, is covered as an unmarried dependent child 
     under a health benefits plan administered by the Overseas 
     Private Investment Corporation and who is not a member of 
     family as defined under section 8901(5) of title 5, United 
     States Code--
       (A) shall be deemed to be entitled to continued coverage 
     under section 8905a of such title as though the individual 
     had, on June 30, 2002, ceased to meet the requirements for 
     being considered an unmarried dependent child under chapter 
     89 of such title; and
       (B) may enroll in an approved health benefits plan 
     described under section 8903 or 8903a of such title in 
     accordance with section 8905a for continued coverage 
     effective on and after June 30, 2002.
       (c) Transfers to the Employees Health Benefits Fund.--
       (1) In general.--The Overseas Private Investment 
     Corporation shall transfer to the Employees Health Benefits 
     Fund established under section 8909 of title 5, United States 
     Code, amounts determined by the Director of the Office of 
     Personnel Management, after consultation with the Overseas 
     Private Investment Corporation, to be necessary to reimburse 
     the Fund for the cost of providing benefits under this 
     section not otherwise paid for by the individuals covered by 
     this section.
       (2) Availability of funds.--The amounts transferred under 
     paragraph (1) shall be held in the Fund and used by the 
     Office in addition to amounts available under section 
     8906(g)(1) of title 5, United States Code.
       (d) Administration and Regulations.--The Office of 
     Personnel Management--
       (1) shall administer this section to provide for--
       (A) a period of notice and open enrollment for individuals 
     affected by this section; and
       (B) no lapse of health coverage for individuals who enroll 
     in a health benefits plan under chapter 89 of title 5, United 
     States Code, in accordance with this section; and
       (2) may prescribe regulations to implement this section.
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