Steel Retirees Offered Deeply Discounted Health Insurance
|By Thomas Olson, The Pittsburgh Tribune-Review|
Retirees ages 55 through 64 and their dependents in
A federal bankruptcy judge in
Under the trust, retirees pay 27.5 percent of their medical, prescription-drug, dental and vision benefits cost. The federal government pays the other 72.5 percent.
Eligible retirees are not restricted to former Bethlehem Steel workers and dependents. The group includes retirees from more than 50 bankrupt steel companies, including
A key qualifier is that the steel company must have had its pension terminated and turned over to the
"Anyone who worked for those companies can participate," said
"The real purpose of the VEBA is to provide coverage while retirees are in the pre-
Once retiree reach 65,
The federal subsidy stems from health-coverage tax credits made available through the American Recovery and Reinvestment Act, the economic stimulus law passed in 2009.
The law allowed a similar VEBA to be established for retirees of bankrupt auto-parts companies, said
"We're reaching out to the newspapers to reach as many people as we can to find out about this," said Cone. "This (steel VEBA) even gives you choices and coverage options, depending on your needs."
Officials at the United Steelworkers either declined to comment or could not be reached.
For more information about the health coverage, visit www.conebenefits.com/steel or call 855-407-8335.
In addition, experts involved in the coverage will conduct road shows in
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|Source:||McClatchy-Tribune Information Services|