3M will drop retirees from their health care

[littlewolf]

http://www.bizjournals.com/twincities/stories/2010/10/04/daily3.html




Monday, October 4, 2010, 12:28pm CDT | Modified: Monday, October 4, 2010, 12:56pm
3M Co. will drop retirees from health plans, steer to Medicare
Minneapolis / St. Paul Business Journal - by Sam Black Staff Writer

3M Co., citing new federal health laws, said Monday it won't cover retirees with its corporate health-insurance plan starting in 2013.

Instead, the company will direct retirees to Medicare-backed insurance programs, and will provide reimbursement for that coverage. It'll also reimburse retirees who are too young for Medicare; the company didn't provide further details.

The company made the changes known in a memo to employees Friday; news of the move was reported in The Wall Street Journal and confirmed Monday by 3M spokeswoman Jackie Berry.

In its memo, the company said the new health-reform act would create new opportunities for people in their 50s and 60s to find affordable insurance.


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[glinda]

1. and produces multitudes of cancer causing agents that make people sick in the first place

[mike_c]

2. THIS is what I feared from crappy HCR without a public option....

Affordable insurance my ass. No one is going to find affordable insurance outside the umbrella of group coverage unless they're old enough for Medicare.

[depakid]

11. It was pretty much a foregone conclusion

Expect to see a lot more of this over the next several years.

[Bozita]

3. Promises made, promises broken. And, big bonuses for the heartless execs ...

... who dreamed this bullshit up.

[femrap]

6. Loopholes abound. nt

[Pilotguy]

4. 3M also among corporations giving to...

pro-Emmer anti-gay group MN Forward.

"Despite public backlash against Target Corporation’s political donations to a Republican-run independent expenditure committee that is backing GOP-endorsed candidate Tom Emmer for governor, other Minnesota businesses continue to contribute to the very same group, MN Forward.

3M is the latest major contributor to MN Forward, as revealed in a new campaign finance report (PDF) released Wednesday morning. The Minnesota-based corporation added $100,000 to the independent organization on Sept. 10. A number of other business have contributed small amounts to MN Forward since the last campaign finance filing, but a $10,000 donation from Frandsen Financial Corp. is the only other major money transfer besides 3M’s $100,000."

http://www.tcdailyplanet.net/news/2010/09/26/3m-among-corporations-giving-pro-emmer-group-mn-forward

[meow mix]

5. thanks to the public option killers, they have nothing to fear

great work there blue dog idiots

[madrchsod]

7. putting retirees into medicare and picking up the supplemental?

or paying the 20% medicare does`t pay? either way it`s a good deal for retirees and a really good deal for 3m`s bottom line.

my parents had medicare and when they retired their employer paid their supplemental.they never had to pay a dime. the only thing they had to pay was the cost of drugs. i`m hoping i can afford the same in 14 months.

[WinkyDink]

8. "You will be able to keep the plan you have." I think we've found the flaw.....

[DURHAM D]

9. Could someone explain to me what this means?

"will direct retirees to Medicare-backed insurance programs"

What insurance programs does Medicare back?

Don't they mean to private companies that provide medicare supplemental insurance?

[doc03]

10. Convenient McDonald's and 3M are coming out with this just

before the election. The day after the election they can just change their mind and still mission accomplished.