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Delphi, Retirees Reach Agreement On Health Care And Benefits

Ohio white-collar retirees from  Delphi Corp. could be getting some help with their health care costs after a tentative agreement was reached between the bankrupt company and a committee representing those retirees. The settlement must be approved by Delphi’s creditors and the bankruptcy court.

The company will contribute $8.75 million into a separate fund that will be established to subsidize medical costs for salaried retirees.

The fund also covers the cost of creating a Voluntary Employees’ Benefit Association (VERA), a system that covers health care insurance costs with tax-free funds. A national health care program will be selected to manage the fund.

Delphi estimates that it will cost the typical retiree between $300 and $660 per month to maintain coverage, while family coverage could cost as much as $1,800 per month. Dental coverage would cost between $45 and $125 extra, depending on whether individual or family coverage is requested.

Earlier this year, a U.S. Bankruptcy judge allowed Delphi to abruptly terminate health care and life insurance benefits for its current and future salaried employees.

We offer professional local advice to Delphi employees. All major companies are researched to find high quality Ohio health care at the guaranteed lowest available cost.

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