Carmakers in for a Long Haul in Paying Retiree Health Care
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For older domestic manufacturers like General Motors, health care represents a severe financial burden.
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Paul Ding: "You don't have to change the oil in your car. You can always replace the engine instead. Works the same way with health care." Great essay on the cost heath care.
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Time is on their side when it comes to earning money for retirement.
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DETROIT - General Motors Corp. won its struggle to unload $51 billion in retiree health costs and improve competitiveness in the latest round of contract talks with the United Auto Workers, but not without a short-lived strike that wrung promises out of GM to keep jobs at US plants.
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SAN FRANCISCO (CBS.MW) -- Despite absorbing three straight years of double-digit increases in retiree health-care costs, more than half of employers that offer retiree health and drug coverage plan to keep it when the Medicare prescription drug benefit
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General Motors Corp. and Ford Motor Co. said Tuesday the Securities and Exchange Commission has asked them to provide information on their pension and retiree health care plans as part of an inquiry into how companies prepare estimates used to calculate pension costs.
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Money is running out for some local governments who use pension funds to help pay for retired workersâ health care.
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Automaker's cash rebates hit yet another new record.
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At a time when cost-cutting pressures have strained relations between automakers and suppliers, General Motors Corp. Chairman and CEO Rick Wagoner said Tuesday that the two sides must cooperate to rein in soaring health-care expenses.
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Employers may continue the long-standing practice of taking Medicare into account when structuring the health care benefits voluntarily provided their retired workers, says the Equal Employment Opportunity Commission in a rule published in response to a 2000 court decision.
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Growing number of U.S. families beset by medical problems are exceeding lifetime benefits caps.
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U.S. regulators asked automotive giants  General Motors Corp. GM.Nand Ford Motor Co. F.N for  information on how they account for pension and health care  plans, the companies said on Tuesday.
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Despite exploding costs, most Americans got sizable life-extending bang for their medical bucks over recent decades, says one of the most sweeping studies ever of health-care value.
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Older Americans will have to pay about 17 percent more next year -- the largest increase in Medicare's history -- for their government-run health insurance, U.S. officials announced on Friday.
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U.S. regulators asked automotive giants General Motors Corp. and Ford Motor Co.  for information on how they account for pension and health care plans, the companies said on Tuesday.
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Car buyers, tired of designs that roll  off the assembly line, are shifting gears to decades past.
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Detroit's Big Three automakers are  preparing to push for more help from Washington to ease the  burden stemming from massive health-care and retiree costs, the  head of DaimlerChrysler AG's Chrysler division said on Monday.