Corporate America and Retiree Coverage

Discussion in 'UPS Retirement Topics' started by InsideUPS, Sep 10, 2013.

  1. InsideUPS

    InsideUPS Active Member

    Looks like others are now joining in reducing retiree coverage. Note the UPS quote from the linked article:

    "Retirees aren’t the only ones feeling the pinch. Last month, United Parcel Service Inc. told workers it would no longer provide health care for 15,000 spouses who can get benefits through their own employer. The company cited rising medical costs in general as well as the added expenses and new insurance options created by the health law."

    GE, IBM Ending Retiree Health Plans in Historic Shift - Bloomberg

    Ironic that our government officials named it the "Affordable Health Care Act". Affordable for who? Certainly not for the retirees that have worked their entire life for these benefits.
     
  2. purplesky

    purplesky Active Member

    So if Obamacare ends up not working? Will we see these Corporations bring back the spousal medical coverage to their employees?

    You are kidding about the retirees I hope? Retired workers have been getting screwed long before Obama came along. Pensions and healthcare have been taken away piece by piece for millions of retired workers.
     
  3. Sleeve_meet_Heart

    Sleeve_meet_Heart making the unreadable unreadabler

    "enhancing", not reducing.
     
  4. InsideUPS

    InsideUPS Active Member

    Last edited: Sep 11, 2013
  5. InsideUPS

    InsideUPS Active Member


    Corporations will do anything to cut cost whether it be on the pretense of "Obamacare", competition, etc.. Some cost cutting is justified, other cost cutting is simply a short term strategy to impress Wall Street. Short term gains at the expense of long term growth. I do not believe that UPS will bring back spousal medical coverage.

    Please elaborate on, "You are kidding about the retirees I hope?". Retiree health costs continue to rise and are not eligible for the "government subsidies" of the "Affordable Health Care Act".
     
  6. oldngray

    oldngray nowhere special

    That is the goal of the ACA - let the old people die off so they won't be a drain on the system. ACA begs for more young people to enroll but since they can ride on their parents plan until 26 they have no incentive to pay for their own healthcare. Especially when they would be charged so much more to pay for older people who use healthcare more often.
     
  7. InsideUPS

    InsideUPS Active Member

    Re: Gulp! Just when I thought it was safe to retire.

    Mr. Hoaxster...... as a moderator here on BC, could you please explain the decision making process that we contributors should follow when trying to choose the appropriate forum category? For example, I linked (7:20 P.M. yesterday (9/10/2013) the very same article that you linked (at 10:34 pm) just hours before your post. Your post ends up on UPS Partners.... my post gets moved from UPS Retirement to Current Events (which is for politics and current events NOT UPS related). Hmmm....Not UPS related???? So...even thought I quoted the folllowing:.....it was not UPS related?

    Note the UPS quote from the linked article:

    "Retirees aren’t the only ones feeling the pinch. Last month, United Parcel Service Inc. told workers it would no longer provide health care for 15,000 spouses who can get benefits through their own employer. The company cited rising medical costs in general as well as the added expenses and new insurance options created by the health law."

    Read more: http://www.browncafe.com/forum/f13/corporate-america-retiree-coverage-352406/#ixzz2ecSeFnVh

    http://www.browncafe.com/forum/f13/corporate-america-retiree-coverage-352406/
     
  8. Monkey Butt

    Monkey Butt You can call me Chappy Staff Member

    Re: Gulp! Just when I thought it was safe to retire.


    Sorry but I don't understand the question but the linked thread was in Current Events.
    I moved it to Retirement Forum based on your cryptic request.
    It could have been moved by accident I guess.
    Threads are usually moved to Current Events when they are political in nature but this one seems to be related to Retirement.

    Most people simply ask that a thread be moved via PM or the "Report Triangle" but I understand some feel they are more special than others.
     
  9. purplesky

    purplesky Active Member

    Well for multi-billion profit companies like UPS,GE,IBM,etc. its just good old fashioned corporate greed with the very convenient excuse of blaming Obamacare.

    Its just the corporate capitalism world we live in today. Its the big business culture of huge tax loopholes to hide cash offshore, cut pensions, cut healthcare (blame Obama now but its been going on for years), etc etc.

    It just gives me a headache thinking about it.
     
  10. ActionJaxson

    ActionJaxson Member