General Motors Retirees Lose Company Health Care Coverage, Will Receive $300 Monthly To Purchase Coverage

Last year General Motors spent $3.3 billion on retiree health coverage. As a result of the crisis going on now, GM is looking to reduce its spending habits. Therefore some 100,000 workers will feel its wrath. But kindly, GM will add $300 to their monthly pension checks. Provision has been made for the workers to enroll in medicare one month earlier than the enrollment period.