At The GE Talks: GE Health Care Below Inflation For 2002 – 2006

[Omaha Steve]

Source: Workers Independent News

At The GE Talks: GE Health Care Below Inflation For 2002 – 2006 - 05/28/07

By Doug Cunningham

Contract talks are underway between GE and the IUE-CWA. GE is complaining about health care costs and says in the new contact health care cost increases have to be “competitive”. But the company’s own data shows that the costs of retiree health care at GE are below that of inflation. Between 2002 and 2006 retiree health care costs at GE rose 11 percent, well below inflation during that period. And because GE got a government subsidy through Medicare’s drug program, prescription drug costs for GE employees and retirees actually went down in 2006.



Read more: http://www.laborradio.org/node/6014

[GoddessOfGuinness]

1. But if they compensate to keep up with inflation,

they won't have enough money to raise their CEO's salary at twice the inflation rate...