Health insurance

[jkiel]

This is sorta off-topic, but I wasn't sure where to ask: do Louisville-area employees have an HMO? And on related note, we were told @ union meeting today (Saturday 2/20) that retirees are getting an HMO thru the VEBA; that's good news for our retirees.

[ScottR@KTP]

VEBA may be the worst thing that ever happened to our retirees if it goes bankrupt like many other VEBAs which have been created throughout the years. Someone can correct me, but I think Caterpillar's VEBA lasted less than 10 years before they busted. If VEBA goes under, our retirees are left with no insurance.
And yes, Louisville employees have an HMO.

[elmer]

Ron Gettlfinger and Bob King said that it would last 80 years ;D Now we all know they would tell us the truth. ;D

Now it will last 80 years if you count them in dog years so that would mean it would last about 12 years.

[jkiel]

Thanks for the replies; good points about the VEBA, too. I forgot about the CAT VEBA.

[TonyV]

ScottR, you are correct. Caterpillars VEBA was created in 1998 and went bankrupt in 2004. It was much better funded than the IUAW's VEBA also. It has been tied up in Federal Bankruptcy court ever since with Steelworkers union, Caterpillar, and the retirees.

[justaworker]

Feb 20, 2010 22:30:44 GMT -5 ScottR@KTP said:

VEBA may be the worst thing that ever happened to our retirees if it goes bankrupt like many other VEBAs which have been created throughout the years. Someone can correct me, but I think Caterpillar's VEBA lasted less than 10 years before they busted. If VEBA goes under, our retirees are left with no insurance.
And yes, Louisville employees have an HMO.

its all part of the liberal scam. the VEBA goes under, the those employees will be reliant on the federal gov't.