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In reply to the discussion: Kodak moves to end health coverage for retirees 65 and older [View all]Marthe48
(16,932 posts)The benefits were offered in lieu of wage increases. Even if someone is eligible for Medicare, there is still the 20% and prescriptions that are not covered. My m-i-l pays about $240.00/month for secondary insurance through AARP. My husband retired from ORMET, with promises of life-time health benefits in lieu of higher wages. Well, ORMET filed for bankruptcy 2 years later, got rid of our benefits, and we went from paying about $1000.00/yr to 8000.00, +plus 20% of hospital visits and so on.
Example: He went to ER a few yrs ago, spent night in hospital, about 12 hrs. total. Cost: about $8000.00. We had to pay $1600.00. We asked for an itemized bill and saw he was charged for 12 bags of IV fluid. They had him on slow drip, which took over an hour to administer. And they took him off IV about 10 PM, so he was only on it for 6 hours. There was no freaking way he got 12 bags of IV. We questioned that and got no adjustment.
Anyway, if you take early retirement rather than get laid off, you have to have some kind of insurance-God, if they can charge $8000.00 for a stomach upset, you better plan on losing the farm if you have to have heart surgery, God forbid. And even after you get Medicare, plan to pay anywhere from $50.00/month on up for secondary insurance and prescription coverage. That's probably what the Kodak employees are losing and my heart goes out to them.
If companies enter contracts with employees, it should be binding. If the employees tried to open a contract and change the agreement, well, it just wouldn't happen. You young people who still have jobs--get your cash on the barrelhead and put it away for the rainy days that are coming.