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My Dad's Retired From Chrysler. Will He Lose His Health Insurance And Pension?

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Dinger Donating Member (1000+ posts) Send PM | Profile | Ignore Sun Apr-26-09 11:07 AM
Original message
My Dad's Retired From Chrysler. Will He Lose His Health Insurance And Pension?
Before Chrysler, he worked at American Motors. He's 78, and this is worrying him.
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Captain Hilts Donating Member (1000+ posts) Send PM | Profile | Ignore Sun Apr-26-09 11:08 AM
Response to Original message
1. Coal and steel workers have. nt
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blue_onyx Donating Member (1000+ posts) Send PM | Profile | Ignore Sun Apr-26-09 11:14 AM
Response to Original message
2. I can't see the Obama adminstration....
allowing Chrysler workers to lose all their insurance and pension. They may lose some of it though.
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Dinger Donating Member (1000+ posts) Send PM | Profile | Ignore Sun Apr-26-09 11:15 AM
Response to Reply #2
3. Would It Help If I Wrote Him?
Ot called the White House? Something?
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blue_onyx Donating Member (1000+ posts) Send PM | Profile | Ignore Sun Apr-26-09 11:22 AM
Response to Reply #3
4. It wouldn't hurt to write a letter
Our government leaders won't do what we want unless we voice our opinions. I just don't see Obama letting the insurance and pensions disappear....at least I hope he wouldn't.
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stillcool Donating Member (1000+ posts) Send PM | Profile | Ignore Sun Apr-26-09 01:16 PM
Response to Reply #3
12. I'd write to everyone..
or call. Especially your representative.
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Dr.Phool Donating Member (1000+ posts) Send PM | Profile | Ignore Sun Apr-26-09 11:42 AM
Response to Reply #2
5. Why not?
Steelworkers completely lost their health care, and the PBGC took over their pensions, and slashed the fuck out of them.

That's just how it works. It happened to me.
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jody Donating Member (1000+ posts) Send PM | Profile | Ignore Sun Apr-26-09 11:46 AM
Response to Original message
6. At 78, he should be eligible for medicare and that's protected. He could lose part his of pension
but that depends on what congress does.

IMO all retirees who have lost health and pension benefits caused by a business failure should be treated exactly the same.
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prolesunited Donating Member (1000+ posts) Send PM | Profile | Ignore Sun Apr-26-09 12:57 PM
Response to Reply #6
10. What you don't realize is that the unions
negotiated MUCH better health care plans for their employees than Medicare. You don't need to buy supplemental coverage or pay much for prescriptions. My dad was a union steelworker and among the minority who was able to keep his union-negotiated plan.

He hardly pays anything for his multiple conditions and meds, but he also worked his ass off and risked death daily on the job to *earn* that guarantee.

That's why bankruptcy is such a popular option among the union-dominated industries. They get to ditch the legacy costs associated with fulfilling these obligations while remaining in business or leveraging themselves as an attractive takeover target.
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jody Donating Member (1000+ posts) Send PM | Profile | Ignore Sun Apr-26-09 01:09 PM
Response to Reply #10
11. I realize that unions had better health insurance than those on medicare. My point is he should have
at least some health coverage.
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Coyote_Bandit Donating Member (1000+ posts) Send PM | Profile | Ignore Sun Apr-26-09 12:04 PM
Response to Original message
7. Those are liabilities
which will most likely be discharged rather than restructured in any bankruptcy proceeding.

Your Dad will not be left without access to health care unlike millions of working taxpayers who will fund his Medicare coverage. And your Dad will also qualify for Social Security benefits. He may be forced to change his liefstyle but he will still have an income and health care. That puts him in a far better position than millions of unemployed folks.
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IdaBriggs Donating Member (1000+ posts) Send PM | Profile | Ignore Sun Apr-26-09 12:13 PM
Response to Original message
8. Yes. nt
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SoCalDem Donating Member (1000+ posts) Send PM | Profile | Ignore Sun Apr-26-09 12:41 PM
Response to Original message
9. It would end up in the PBGC..and will be reduced dramatically
You can look at their website to see what percentages might be. This page has a lot of links he/you can follow to see what the result might be.
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ProgressiveProfessor Donating Member (1000+ posts) Send PM | Profile | Ignore Sun Apr-26-09 03:59 PM
Response to Original message
13. They are certainly at some risk
Anything more generous than Medicare and Social Security may be impacted by a bankrupcy
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