GM Salaried Workers To Receive Only High-Deductible Plans
"General Motors Co. will offer only high-deductible consumer-driven health care plans to its 24,000 salaried employees, effective Jan. 1," Business Insurance reports. "GM salaried employees will choose from two plans, both linked to health savings accounts.In addition, GM will contribute $1,300 to employees' HSAs. That contribution is intended to help employees pay for uncovered health care expenses and to help them accumulate funds to pay for health care expenses after they retire, a GM spokeswoman said. GM salaried employees hired after 1993 are not eligible for retiree health care coverage."
"The move to high-deductible CDHPs is a big change for a company once known for its lavish health care benefits program" (Giesel, 10/22).