GE Cuts In Retiree Health Care Called "Shameful"

ALBANY, NY (09/22/2014)(readMedia)-- Edward C. Farrell, Executive Director of the Retired Public Employees Association (RPEA) of New York, called General Electric's (GE) recent decision to drop its health coverage for Medicare eligible retirees a "shameful" action on the part of the corporate giant.

Farrell stated, "These retirees are the people who built GE. They are not widgets, they are real people with real lives and real obligations. For GE to dump them into private insurance exchanges is morally repugnant. The U.S. Supreme Court has recently ruled that corporations are people. If this is the case, then based on this action, GE has no soul."

Farrell continued, "If GE wants to expand its corporate profits even further, it should not be paid for by retired employees. Changes in retirement benefits should always be prospective in nature, and not be imposed on those who have already retired. These are the people who can afford it the least."

While RPEA is an organization of retired public employees, Farrell noted, "We are all in this together. The one thing that we share is that we have already retired and based that decision upon the commitments that were made at the time. Those commitments should be honored."

In announcing its decision, GE noted that other companies, such as IBM and Time Warner, were doing the same thing. Farrell called that explanation "lame and pathetic".

Approximately 50,000 retired GE workers and spouses will lose their eligibility under the move. Those affected are former salaried workers, not union members. The retirees are being dumped into private insurance exchanges, and GE's action was not induced by the Affordable Care Act.

Farrell concluded, "GE's slogan used to be 'We Bring Good Things To Life', it should be amended to add 'unless you are a retiree'".