Oh, this new policy interpretation will work out just great.
The Equal Employment Opportunity Commission said Wednesday that employers could reduce or eliminate health benefits for retirees when they turn 65 and become eligible for Medicare.
The policy, set forth in a new regulation, allows employers to establish two classes of retirees, with more comprehensive benefits for those under 65 and more limited benefits — or none at all — for those older.
More than 10 million retirees rely on employer-sponsored health plans as a primary source of coverage or as a supplement to Medicare, and Naomi C. Earp, the commission’s chairwoman, said, “This rule will help employers continue to voluntarily provide and maintain these critically important health benefits.”
No, Ms. Earp, here is what it will do.
For younger retirees (generally prosperous to begin with) the same ol’ same ol’, i.e. "don’t get sick".
For those who retire at 65 or older; or the first group — when they usually get the sickest…as far as their former employer is concerned, they can just go ahead and die.
It’s all on the tax payers now, and they demand their tax cuts, or so we are always told.
If ever there was a new policy interpretation that you know is going to work out badly, this is it.
(photo from kyeung808)