Health Insurance Blog - Arconic cuts pre-Medicare health insurance for retirees
Arconic notified retirees last week that the company will end all pre-Medicare health coverage for non-bargained employees and retirees.
Effective Dec. 31, Arconic spokesman Justin Falce said both current and future retirees will lose pre-Medicare medical and prescription drug coverage.
"Arconic regularly reviews our benefit programs to ensure they are cost-effective and allow our business to remain competitive," Falce said in a statement. "This difficult decision was made due in large part to low enrollment and to provide more consistent benefit offerings across its employee population."
False declined to comment on how many employees and retirees are affected, or how much the company expects to save by cutting the benefits.
The news follows an announcement in January in which Arconic officials said the company will freeze pension plans for salaried and non-bargained hourly employees. The pension freeze went into effect in April.
source : https://qctimes.com/business/arconic-cuts-pre-medicare-health-insurance-for-retirees/article_ef955a02-58fa-56ca-bb0f-31b57fe0d214.html