General Motors on Jan. 1, 2009, will cease to provide health care coverage for more than 100,000 retirees and their dependents and instead will add $300 to their monthly pension checks to purchase insurance, the Detroit Free Press reports. The move is an effort to reduce spending by GM, which spent $3.3 billion on retiree health coverage in 2007.
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General Motors on Jan. 1, 2009, will cease to provide health care coverage for more than 100,000 retirees and their dependents and instead will add $300 to their monthly pension checks to purchase insurance, the Detroit Free Press reports. The move is an effort to reduce spending by GM, which spent $3.3 billion on retiree health coverage in 2007.
