Reply #26

In the discussion thread: Kodak moves to end health coverage for retirees 65 and older [View all]

Mon Feb 27, 2012, 07:03 PM

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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65 replies	Author	Time	Post
Kodak moves to end health coverage for retirees 65 and older [View all]	Earth_First	Feb 2012	OP
Why should they pay for healthcare that the employees can access through	cbayer	Feb 2012	#1
Define "they" in your sentence please. Thanks.nt	FLyellowdog	Feb 2012	#3
Kodak.	cbayer	Feb 2012	#6
It usually converts into Medigap once the retiree moves onto Medicare	Yo_Mama	Feb 2012	#23
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
because the employees bargained for it and signed a contract....	mike_c	Feb 2012	#7
But they are all Medicare eligible. Why would this even be a bargaining chip?	cbayer	Feb 2012	#8
Kodak had the right to NOT make the promise...	mike_c	Feb 2012	#12
I see your points. I thought there were pretty strict laws about the funding	cbayer	Feb 2012	#15
as I suspected, Kodak began robbing their retirees in the form of underfunding pension plans...	mike_c	Feb 2012	#19
This is true for most negotiated retirement medical plans	Yo_Mama	Feb 2012	#24
Yes, Kodak made a deal	Roy Rolling	Feb 2012	#26
You are aware that the Federal government did essentially the same thing	ProgressiveProfessor	Feb 2012	#36
+++++	Betsy Ross	Feb 2012	#29
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
We Have a Winner!	we can do it	Mar 2012	#64
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
They should have been required to pre-fund their pension fund 75 years ahead	csziggy	Feb 2012	#2
Not quite	dipsydoodle	Feb 2012	#9
Well said!	Marthe48	Feb 2012	#20
dammit-- corporations should be dismantled and sold for scrap...	mike_c	Feb 2012	#4
The Plutocracy speaks, The Court abides... n/t	Earth_First	Feb 2012	#5
This corporation is being effectively dismantled and sold for scrap.	boppers	Feb 2012	#17
To the retirees?	dmallind	Feb 2012	#45
I am all for this	cstanleytech	Feb 2012	#10
This is why I will never be against 401Ks.	Snake Alchemist	Feb 2012	#11
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
Your source for roughly how much money USPS lost during those five months?	brentspeak	Feb 2012	#49
Quarterly earnings	Snake Alchemist	Feb 2012	#50
Reads that losses would have doubled had the prefunding been in place	brentspeak	Feb 2012	#54
Prefunding or not they're going to be losing money. Might as well prefund. nt	Snake Alchemist	Feb 2012	#55
Sure, what's an extra $5.5 billion lost a year?	brentspeak	Mar 2012	#57
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
I do set aside my income to fund my retirement.	Snake Alchemist	Mar 2012	#60
GAO: USPS prefunding for retiree health benefits should be eliminated or restructured	brentspeak	Mar 2012	#61
Uh....	Snake Alchemist	Mar 2012	#62
If you read that article carefully,	Yo_Mama	Feb 2012	#28
LIke other companies Kodak promised then reneged	Marthe48	Feb 2012	#18
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
I wonder if Kodak is also planning to end executive compensation	primavera	Feb 2012	#30
I would bet they get bonuses after all is done.	liberal N proud	Feb 2012	#32
Message deleted by the DU Administrators	safgertrt	Feb 2012	#31
If corporations are people	The Wizard	Feb 2012	#33
This message was self-deleted by its author	WestSeattle2	Feb 2012	#34
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
I don't understand how this works?	stuffmatters	Feb 2012	#39
what kinds of pay cuts are CEO's and	SemperEadem	Feb 2012	#40
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
We were all always reliant on Medicare	Yo_Mama	Feb 2012	#43
I know very well the costs of what is left out of Medicare.	CTyankee	Feb 2012	#44
Eeek	Yo_Mama	Feb 2012	#47
OK. So far so good. Nerve damage takes a LONG time to heal, and maybe then only at a certain	CTyankee	Feb 2012	#52
Socialization of corporate debt.	truthisfreedom	Feb 2012	#51
Any contract between an individual and a corporation is a one way street	flexnor	Mar 2012	#63

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