Up for a Challenge
Fran Parker ’88 Leaves Retirement to Direct UAW Retiree Medical Benefits Trust
Fran Parker ’88 doesn’t walk away from a challenge—even one as big as creating and then leading a trust that manages the medical benefits of hundreds of thousands of United Auto Workers retirees.
Parker, after “retiring” in 2008 as president and CEO of the Health Alliance Plan (HAP), soon jumped back into the workforce. She was named executive director of the UAW Retiree Medical Benefits Trust, which manages the benefits of approximately 750,000 retirees of the “Big Three” automakers of Ford, General Motors and Chrysler.
“(The UAW) came to me to do this because of my background,” said Parker, who has more than 40 years of health care experience. “Taking the membership of three different organizations, Ford, GM and Chrysler, with no infrastructure, you had to create (the trust) from nothing. You knew that come January 1 of 2010, these retirees depended on you.”
When the trust launched in 2010, it became the largest non-governmental purchaser of retiree health care in the U.S. The trust is governed by an 11 person Committee of Directors. All of the retiree health care liabilities were transferred to a new independent Voluntary Employee Beneficiary Association (VEBA). Parker said she is enjoying her latest challenge, and considers it one of her greatest career achievements.
“I kind of divide the day into thirds,” Parker said of her typical day on the job, which usually begins about 7 a.m. and ends around 6 p.m. “A third might be day-to-day running of an organization. Another third (is) trying to keep abreast of regulatory changes. And (then) some time on strategy. I try to interact with staff and others, and I spend time with our insurance carriers and medical providers.”
As a leader, Parker considers herself to be “fact-based” and “data-driven.” However, she said she also values the opinions of others in the decision making process.
