Archive for March 18th, 2009

Many of Michigan’s senior citizens who spent their working years employed by larger corporations have the comfort of knowing that they are covered by good quality health insurance.  This insurance is supposed to last well into their retirement years or even for the rest of their lives.  However, in an unexpected offshoot of the current financial crisis, many large companies are threatening to cancel the health coverage of their retirees in an effort to cut costs.  Also, seniors can be caught off-guard when companies file for bankruptcy and eliminate their retirement benefits entirely.   

This frightening prospect has already happened to retirees in some of America’s largest corporations.  Some municipalities are threatening to follow their example.  Paul Miller, the Executive Director of the national retiree advocacy group, ProtectSeniors.org, says that the situation is as dire as the financial crisis in the auto industry, Wall Street and America’s banks. (more…)


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