Kodak moves to end health coverage for retirees 65 and older

[Yo_Mama]

43. We were all always reliant on Medicare

Retiree medical benefits are indexed to Medicare, so that once a retiree moves onto Medicare, their benefits are supplemental. Otherwise no one could ever have afforded to offer the retiree medical benefits in the first place.

Medicare only covers 80% and there are deductibles, and some medical costs are excluded (such as dentistry, orthopedics). Also you have to pay separately for prescription drug coverage. So retiree medical coverage is quite valuable even if you have Medicare. Private insurance that would cover all that would run many couples at least $500-600 a month, with more limitations, and many couples would pay more than $800 monthly. With an average SS check somewhere close to $1,100, that doesn't leave a lot to live on.

We're playing with fire right now on Medicare. Everything tips over without it.

Retirement medical benefits have usually allowed workers that have them to retire earlier - who can afford to retire at 62 when a private insurance plan will run a couple upwards of 20K annually? Only rich people.

Most of us are not and never will be rich. Trying to make a country that only works for the rich just increases irresponsible behavior.

Right now very few of us REALLY have medical insurance in the private sector. We may have it now, but if we get sick or get laid off and we are older, we are going to be uninsured. That's pointless - only a system that guarantees that you can always have coverage is really worth it.