Wednesday, September 26, 2012

Rumor Mill

While we don't normally engage in speculation and rumors, this one comes from a reliable source. It appears that General Electric (GE) has sent a letter to current retirees regarding their benefit program.

According to the letter, effective January 1, 2015, GE will no longer offer post retirement life insurance or health insurance to their salaried employees.

This does not apply to current retirees, or those who retire prior to 1/1/2015.

This move will impact all retirees, including those who retire prior to age 65. That means more people that will be losing corporate sponsored health insurance that will seek coverage through the Obamacare insurance exchanges . . . assuming they are ever created and funded.

Retirees age 65 and older will have Medicare as an option, further swelling the rolls there and putting more pressure on a bankrupt system.
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