Quote:
Originally posted by Moneyguy1
I think we are all missing the point here.
I wonder what would happen if large corporations like Ford or GM decided to become "self insured" for medical expenses...
A modest pension plan, adequately funded and providing no more than, say, 50% of final average annual wage after, say, 25 years of service and an age of no less than 60 should be do-able and if properly managed, be self sustaining.
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GM is self-insured:
" GM is the largest private buyer of health care in the world. Most companies pay an insurance company to assume the financial risk for health care claims. GM, on the other hand, is self-insured, meaning the cost of every mammogram and Viagra prescription comes straight out of the auto giant's pocket."
GM's pension plans are funded to the tune of $100 BILLION dollars, so the pension side has always been manageable.
Healthcare, not so manageable.