Wednesday, July 19, 2006
NEW YORK - Leroy McKnight retired in 2000 as a manager after more than three decades with General Motors Corp., thinking his retiree health care desires were covered. Now, he's taking stock trading classes at a local college, just in case.
"People like me worked for 30 years for wages and health care while we worked and a pension and health care in retirement," McKnight said. "They've come along and changed that, and it isn't fair."
GM is among hundreds of American companies, which are cutting back on retiree health care by suspending benefits or requiring retirees to pay more for their care.
McKnight, who is 56, said that some GM retirees be anxious that they may have to go back to work to cover higher medical expenses.
Retiree health care benefits helped quite a few generations of Americans deal with the ills that come with aging. Now a growing number of retirees are seeing their benefits cut or abolished as companies struggle to contain health care expenses. Meanwhile, fewer companies are contribution retiree health care coverage to their current workers.




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