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In reply to the discussion: Kodak moves to end health coverage for retirees 65 and older [View all]Roy Rolling
(6,908 posts)26. Yes, Kodak made a deal
...and they need to live up to their end of the bargain. If they are let off with the excuse "Medicare covers that" and Medicare goes broke (God forbid) then the retirees would be up s**t creek without a paddle.
And even though Medicare covers it, why should the taxpayer-funded Medicare cover medical costs that a private insurer paid by a compay like Kodak should be paying? Why should I have to pay and let Kodak off the hook for its contractual obligation?
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Thank you for that. I found this to be misleading. If it's about medigap policies,
cbayer
Feb 2012
#25
Some employees can be Medicare eligible but with younger, non-working spouses who would go uncovered
cyberpj
Feb 2012
#38
as I suspected, Kodak began robbing their retirees in the form of underfunding pension plans...
mike_c
Feb 2012
#19
You are aware that the Federal government did essentially the same thing
ProgressiveProfessor
Feb 2012
#36
If these are binding contracts, then why do employees always lose their pensions?
Canuckistanian
Feb 2012
#46
Kodak is in bankruptcy-- their retirees just became another class of creditors...
mike_c
Feb 2012
#53
I agree. Are they going to cash them out for the value of the insurance. No, of course not.
IndyJones
Mar 2012
#56
Is (was) Kodak paying for FULL insurance as part of the retirement pkg. or was it supplemental?
Hassin Bin Sober
Feb 2012
#21
Good question. If it's about the supplemental, then that's a whole different story.
cbayer
Feb 2012
#22
And people thinkg pre-funding the USPS pension funds is a BAD thing?!?!? nt
Snake Alchemist
Feb 2012
#13
The amount required is far beyond what is actuarily required, even by the most stringent
rfranklin
Feb 2012
#14
The prefunding of the USPS pension fund was applauded by the union and smartly so.
Snake Alchemist
Feb 2012
#16
Prefunding or not they're going to be losing money. Might as well prefund. nt
Snake Alchemist
Feb 2012
#55
Or end up like Kodak employees. There is a reason that pre-funding is required for pensions. nt
Snake Alchemist
Mar 2012
#58
Is there a reason to prefund over a 10 yr span 80% of future retiree benefits?
brentspeak
Mar 2012
#59
GAO: USPS prefunding for retiree health benefits should be eliminated or restructured
brentspeak
Mar 2012
#61
Most private companies were extremely careful for decades to not contract for retiree health care
FarCenter
Feb 2012
#27
Please note that the Federal government did much the same thing...
ProgressiveProfessor
Feb 2012
#37
It's safe to assume that all those demanding Kodak honor contracts they agreed to when they
WestSeattle2
Feb 2012
#35
Giving up the home to foreclosure if you cannot or will not make payments is part of the contract..
Fumesucker
Feb 2012
#48
As with any financial contract, if you cannot or will not make payments than you
WestSeattle2
Mar 2012
#65
Because of ballooning pension costs, I suspect we are going to see a lot more of this
Yo_Mama
Feb 2012
#41
Could this turn out to be a GOOD thing in the long run, as more workers see the need for
CTyankee
Feb 2012
#42