GM Retirees Losing Benefits???

[G.Gordon]

I have a 9am appointment with a couple that called me yesterday saying they are losing their benefits.

Has anyone heard anything about this? I'd figure that if anyone lost benefits during this Obama take over of the auto makers it would have been big news.

Their communication skills weren't the best on the phone so I wasn't able to get a clear answer about "what" benefits they are losing other than they will lose vision/dental and then she kept saying they will lose the benefit that pays after medicare. I'd assume that GM retirees benefits were primary and not secondary.... I dunno.

I'll report back latter. I have to do about 3-4 of these reviews per year due to clients refering me to their friends that can't understand the letters they get from their retirement benefit plans.

 

[Insuranceman]

I talked to a Chrysler retiree, he said he is only losing vision & dental. The way he discribed to me he is being swithched over to a group MA plan.

 

[G.Gordon]

I talked to a Chrysler retiree, he said he is only losing vision & dental. The way he discribed to me he is being swithched over to a group MA plan.

That's going to be great for a retiree that lives out in the boonies. Slam them into a HMO or PPO when the country docs probably don't belong to the network.

We'll see.

 

[insurance0707]

GM & Ford Salaried retiree's lost their health, dental and vision coverage.

GM & Ford Hourly retiree's lost their dental and vision but were able to keep their health coverage. I've had a lot of calls from concerned hourly retiree's. They are afraid their health benefits will be taken also and they just want to know what's available. If you reassure them and let them know they'll be able to apply with any company on a guaranteed issue basis, that seems to calm them down a bit.

 

[somarco]

According to Mr Google . . .

UAW approves GM concessions - UPI.com

U.A.W. Makes Concessions in Bid to Help Automakers - DealBook Blog - NYTimes.com

Health Care Marketplace | UAW To Accept Up to 20% of GM Stock; Agrees to Concessions on Retiree Health Care Obligations, Labor Rules - Kaisernetwork.org

I believe it took me 2 minutes to find this . . .

 

[G.Gordon]

According to Mr Google . . .

UAW approves GM concessions - UPI.com

U.A.W. Makes Concessions in Bid to Help Automakers - DealBook Blog - NYTimes.com

Health Care Marketplace | UAW To Accept Up to 20% of GM Stock; Agrees to Concessions on Retiree Health Care Obligations, Labor Rules - Kaisernetwork.org

I believe it took me 2 minutes to find this . . .

And it took you ten words to turn asshole. Google is one thing, but a fellow agent's actual experience is another.

 

[moonlightandmargaritas]

That's going to be great for a retiree that lives out in the boonies. Slam them into a HMO or PPO when the country docs probably don't belong to the network.

They could buy a Medicare supplement policy couldn't they?

 

[G.Gordon]

They could buy a Medicare supplement policy couldn't they?

Yea, but convincing someone that has been getting Cadilac benefits for next to nothing out of pocket to spend $100+ on a supplement is a challenge. This is not a market share I'm after, but just helping the family of a current client.

I've got a copy of everything GM and VEBA sent them and there are a couple of items I need to research. The changes make sense to me, but will result in a bit more out of pocket to the retirees. No biggee.

 

[somarco]

You are welcome . . .

 

[moonlightandmargaritas]

Yea, but convincing someone that has been getting Cadilac benefits for next to nothing out of pocket to spend $100+ on a supplement is a challenge.

Then they'll have to settle for the alternative, a limited network.