Today's Minneapolis-St. Paul Business Journal reports that 3M is dropping its health coverage for retirees thanks to ObamaCare. Oh, and that Medicare program they'll be herded into, cattle-car style? The Democrats slashed it by $500 billion, so the hundreds of thousands of additional seniors covered should really be in fine fettle.
3M Co., citing new federal health laws, said Monday it won't cover retirees with its corporate health-insurance plan starting in 2013... Instead, the company will direct retirees to Medicare-backed insurance programs, and will provide reimbursement for that coverage...
...Maplewood-based 3M (NYSE: MMM) is one of the first large companies to indicate that it won't tap a large federal-government reimbursement program created by Congress as part of the health insurance reform package... The rebate program was meant to encourage employers to keep in place their health-insurance plans for retirees.
...3M noted that these changes affect current and future retirees of 3M, regardless of their retirement date... The new policy is likely to save 3M money because it reduces the risk to the manufacturer for rising medical costs...
Just wondering: when is President Obama going to apologize to Joe Wilson?
Countdown to another Chavez-like threat by Kathleen Sebelius in 3... 2...
Update: 840,000 lose their health care coverage to ObamaCare... so far.
Hat tip: RoF
The company my employer uses is getting out of the insurance biz entirely thanks to obamacare. Dunno WHAT we're going to end up with, but I suspect we won't like it much.
This must be another one of those 'unexpected' moments the brilliant Jon Stewart had no idea would actually happen.
Suckers and losers are Comedy Channel viewers; it take some real stuck-on-stupid to get your news from Jon Stewart's ass.
I like the runner up headline better.
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