THE WALL STREET JOURNAL News Alert
IBM to Move Retirees Off Health Plan
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International Business Machines plans to move about 110,000 retirees off its company-sponsored health plan and instead give them a payment to buy coverage on a health-insurance exchange, in a sign that even big, well-capitalized employers aren’t likely to keep providing the once-common benefits as medical costs continue to rise.
The move, which will affect all IBM retirees once they become eligible for Medicare, will relieve the technology company of the responsibility of managing retirement health-care benefits.
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This is just another of the dropping shoes!
I foresee litigation.
Unless the politicians and bureaucrats give the Crony Capitalists a “free pass” because it is a big boost to their plan for “single payer socialized medicine”.
In any event, the “Age of the Golden Watch” when paternalistic companies could be trusted with the best interest of valuable employees. Foolish meme at its heart. But, if I was an IBM employee, or potential IBM retiree, the hand writing is on the wall.
Yes, the new employment meme should be “Every person for themselves!”.
Cause NO ONE — not your employer, not the folks you buy from, not the politicians — NOBODY is looking out for YOU, but YOU!
Forget that at your own peril.
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