Quote:
Originally Posted by fastball
The big problem is health insurance for retirees. Why doesn't GM just go with a third party healthcare provider that most retirees in America have? Where the retiree pays some out of pocket and GM pays some as well, but not 100% of all the bills?
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They've got a plan in place. It's called the Voluntary Employee Beneficiary Association (VEBA)...or something like that...might be 'benefits'.
Anyways -- It was set to come 'online' in 2010. Basically -- GM, Ford, and Chrysler makes a one-time payment to an account that's managed by the Union. This money will be managed in such a way that it will support worker healthcare costs for 80 years -- all while GM pays nothing. I'm not sure where it stands now with the aggressive cost-cutting, though...but it was in the works, and was very promising.
