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Article: GM pact needs makeover.(General Motors Corp., United Automobile Workers)
- Article from:
- Business Insurance
- Article date:
- November 7, 2005
CopyrightCOPYRIGHT 2005 Crain Communications, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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If there ever was a case of reality not meshing with rhetoric, the new proposed contract between General Motors Corp. and the United Auto Workers union is it.
To judge by the headlines when the agreement was announced, one would have thought it was a landmark in the area of health care coverage.
Certainly, the initial impression was that GM was making deep cuts in the gold-plated health care plans offered to UAW-represented employees and retirees.
While the contract does shift more costs-through, for example, higher co-payments for prescription drugs for active employees and new premium contributions by retirees-from GM to plan participants, it ...