Yuma (Ariz.) Regional Medical Center has announced the elimination of 135 positions and the freezing of pension plans, according to a Yuma Sun report.
Hospital CEO Pat Walz attributed the changes to the cuts within the Arizona Health Care Cost Containment System — the state's Medicaid program — and federal healthcare reform. New Medicaid eligibility requirements left the hospital with more charity care. It ended 2011 with $20 million in uncompensated care but has provided $40 million so far this year.
A review found the hospital needed to eliminate 135 positions, 65 of which were interim and 70 of which were core positions. The YRMC board of directors has also frozen the employee pension plan. Employees active in the pension plan will be vested, and benefits already earned will be there for them at retirement. Employees will keep what they've earned in pension as of Sept. 30.
Employees will no longer have the option of the Prime Benefit Pension Plan beginning Sept. 30. Employees will automatically be transitioned to a 401(k) plan Oct. 1.
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Hospital CEO Pat Walz attributed the changes to the cuts within the Arizona Health Care Cost Containment System — the state's Medicaid program — and federal healthcare reform. New Medicaid eligibility requirements left the hospital with more charity care. It ended 2011 with $20 million in uncompensated care but has provided $40 million so far this year.
A review found the hospital needed to eliminate 135 positions, 65 of which were interim and 70 of which were core positions. The YRMC board of directors has also frozen the employee pension plan. Employees active in the pension plan will be vested, and benefits already earned will be there for them at retirement. Employees will keep what they've earned in pension as of Sept. 30.
Employees will no longer have the option of the Prime Benefit Pension Plan beginning Sept. 30. Employees will automatically be transitioned to a 401(k) plan Oct. 1.
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