UAW is Set to Vote on GM Healthcare Cut Proposal
I think it's going to pass. Under the circumstances, it's hardly draconian. Here's how it is described in this AP article carried by the Detroit News:
GM pays for health care for 750,000 U.S. hourly employees, retirees and their dependents. Under the proposed agreement, GM retirees would have to pay up to $752 annually for families and $370 for individuals for their health care. Right now, retirees pay no monthly premiums and pay a small fraction of the rest of their health care costs.
The agreement would exclude around 74,000 low-income retirees whose GM pension is $8,000 a year or less.
The agreement would require GM hourly workers to contribute $1 per hour in future pay increases to a new fund to help pay for retirees' coverage. GM would contribute $3 billion to that fund over the next six years. It also would require hourly workers and retirees to pay slightly more for their prescription drugs.
Ford Motor Co. and DaimlerChrysler AG's Chrysler Group have already said they will seek similar concessions from the UAW. The Big Three's combined health care costs are expected to top $11 billion this year, versus $10 billion in 2004.
Latest Reports - The Detroit News Online
Thursday, November 03, 2005
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment
Note: Only a member of this blog may post a comment.