When Your Former Employer Is On Life-Support...
Talk about rocking the health care world -- at least as it pertains to retirees. General Motors, which has 100,000 salaried retirees and their dependents on ...
Talk about rocking the health care world -- at least as it pertains to retirees. General Motors, which has 100,000 salaried retirees and their dependents on its health care rolls, is dumping them and the $3.3 billion a year it costs the company to provide them with insurance.
In lieu of covering them under the GM health plan, the retirees will get an additional $300 a month tacked onto their pension payments to use toward buying health care -- $3,600 a year to buy insurance that costs a whole lot more than that. They can, however, sign up for Medicare plans starting this week, which is a month earlier than Medicare's enrollment for everyone else.
As a story in the Detroit Free Press noted, "Given costs of the Medicare drug plans, many retirees will wind up paying much more than $300 a month."
With other major companies -- to say nothing of states and localities -- feeling a whole lot of fiscal pressure over retiree health care coverage, it brings up the old saw about GM: Is what's good for General Motors good for the country?
Join the Discussion
After you comment, click Post. You can enter an anonymous Display Name or connect to a social profile.
Virginia Governor Restores 13,000 Felons' Voting Rights, This Time One by One54 minutes ago
Big Transit Plans Go Before Voters in November5 minutes ago
In Closely Watched Case Around U.S., California Teachers Unions Get a Major Victory3 hours ago
Video Release of Milwaukee Police Shooting Delayed3 hours ago
Michigan State Police Lab Mishandled 4,000+ Alcohol Tests3 hours ago
Despite California's Strict Law, Thousands Start School Unvaccinated4 hours ago