Health Benefits – Costco Member Prescription Program

The next big battle being healthcare benefits, whether or not Heller will offer COBRA, etc. here is a good bit of news: if you are a Costco member, you may be able to get your prescriptions filled at a lower cost even if you do not have health insurance.

Here is a link to the program:

A quote from the site: “The Costco Member Prescription Program is a new prescription savings program for you and your family. It allows Members who have no prescription drug insurance coverage to be the beneficiaries of Costco’s commitment to member service, value, quality and product confidence. Costco is committed to passing on savings to the members and are able to do that by monitoring expenses, taking lower markups, and now negotiating manufacturer/supplier discounts and passing those savings back to Costco members.”

You will need to have a written presciption so make sure you get that taken care of before 10/31/2008 when current medical benefits are scheduled to end.

Heller Drone
Cruise Director


3 Responses to “Health Benefits – Costco Member Prescription Program”

  1. 1 Hellboy 20 October 2008 at 6:24 pm

    I think we can assume that the (former – since most if not all the principles are at new firms) Dissolution Comm. and The Bankers (’nuff said) will continue to violate principle and law. I believe we should be focusing on the freezing of the 401Ks. I have not read the fine print and “it’s OK–it’s held in trust” does not exactly give me peace of mind. I see no reason why funds held in trusteeship must be frozen if those funds are indeed untouchable in order to commence an orderly wind-down. Where does that figure factor on the balance sheet?

    So…HEWM violates statutes re accrued vacatation, WARN requirements and possibly other (e.g., COBRA) labor laws…fine. Class actions will settle that. But I need my 401K funds now!

  2. 2 Observer 20 October 2008 at 10:31 pm

    The 401(k) does not figure in the firm’s balance sheet. But 401(k) plan accounts can — per applicable ERISA law — be charged their pro rata share of administrative expenses. It’s true in general trust law that the beneficiaries of a trust can be surcharged for the expenses of administering the trust. My best guess is that those expenses will not be very much as a percentage of plan account assets.
    The funds are frozen, as I understand it (and I hate it myself), so that Vanguard can deduct pro rata costs of closing down the plan. Of course, the firm should have prepaid administrative expenses at Vanguard so this would not be necessary. Apparently, Larrabee et al chose to spend the firm’s money on something else — don’t ask me what, I don’t know.
    I’ve said before, but just a reminder, you can still shift your investments around inside your plan account. If you want to be out of stocks and into a Treasuries money market fund, or out of a money market fund and into stocks, you can still do that despite the freeze on withdrawals.

  3. 3 Hellboy 21 October 2008 at 2:03 am

    I just hope it doesn’t become another orphaned plan requiring a lawsuit in all this carnage.

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