Postal Service Reform Act of 2016

[AI summary unavailable — showing source text] Postal Service Reform Act of 2016 TITLE I--POSTAL SERVICE BENEFITS REFORM This bill requires the Office of Personnel Management (OPM) to establish a Postal Service Health Benefits Program within the Federal Employees Health Benefits Program to offer health benefits plans for U.S. Postal Service (USPS) employees, annuitant retirees, and their families at rates that reflect the cost of benefits provided solely to the USPS risk pool. To obtain or continue federal coverage, Medicare-eligible postal retirees must be enrolled in part A (Hospital Insurance) and part B (Supplementary Medical Insurance Benefits for Aged and Disabled) of title XVIII (Medicare) of the Social Security Act. Each plan must provide Medicare part D (Voluntary Prescription Drug Benefit Program) prescription drug benefits. Postal retirees not previously enrolled in Medicare will be transitioned automatically into Medicare part B, with their premiums reduced by 75% in the first year, 50% in the second year, and 25% in the third year, after which they will pay the full premium. The USPS's annual prefunding payments to the Postal Service Retiree Health Benefits Fund must be recomputed each year based on economic and ac…