Frank Pallone: “Let me thank Chairwoman Maloney. She has worked hard on this and has constantly been telling us for months and years how…”

“Let me thank Chairwoman Maloney. She has worked hard on this and has constantly been telling us for months and years how important this was and we had to get it done. So congratulations. The day has arrived. {time} 1445 The U.S. Postal Service, Madam Speaker, is one of the oldest and most essential American institutions. Unfortunately, it has struggled financially for many years. That is why this comprehensive, bipartisan legislation is important, because it will address the financial challenges facing the Postal Service. A report last year by the GAO found that, since 2007, Postal Service expenses have grown faster than revenues, in part due to the cost of benefits, including retiree expenses. The Energy and Commerce Committee has worked closely with the Oversight and Reform Committee to craft healthcare provisions in the Postal Service Reform Act that both protect the benefits of retirees and put the Postal Service on a better financial footing. Under the bill, current Postal Service retirees will be able to keep their retirement health plans provided by the Postal Service and will not be required to enroll in Medicare. However, the legislation creates a one-time special enrollment period for Postal Service retirees who are eligible for Medicare to enroll in Medicare part B if they so choose. Postal Service retirees who enroll in Medicare part B through this special enrollment period would not pay late enrollment penalties on their part B premium.…”