State Farm retirees lose some medical coverage

By Associated Press
Posted Feb. 9 at 4:51 p.m.

Bloomington-based State Farm Insurance Cos. will stop providing supplemental medical coverage for its Medicare-eligible retirees next year in a cost-cutting move.

The company says it will instead help them find supplemental Medicare coverage and provide them with $200 a month to help. About 18,000 of the company’s 27,800 retirees are Medicare-eligible.

State Farm also will make changes in the availability of retirement health care for current and future employees. People hired after this year, for instance, will have to pay for all of their own retirement medical insurance.

State Farm spokesman Phil Supple told The Pantagraph newspaper in Bloomington that growing medical claims have driven up the company’s health care costs.

Many companies have announced similar changes in recent years.

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10 comments:

  1. Chicago Feb. 9 at 6:41 pm

    While these large companies corporate profits continue to grow to outrageous amounts!!!!

  2. chicagoannie Feb. 9 at 6:47 pm

    Pathetic how this very profitable company is now screwing over those who made them profitable. Shame on State Farm.

  3. Mike Feb. 9 at 7:06 pm

    And like a good neighbor,state farm isn’t there???lol

  4. supersniffy Feb. 9 at 7:27 pm

    Don’t blame State Farm…..Blame ObamaCare. This “Reform” will continue until no one can afford it. Then will all be in Jail…..(cause we can’t afford the mandatory coverage….) Socialism @ its finest….bleeding the country out.

  5. Jerry Wattron Feb. 9 at 7:40 pm

    STATE FARM SCREWS EVERYBODY, EMPLOYEES, AUTO BODY SHOPS & CONSUMERS. CAN 40 MILLION POLICY HOLDERS BE WRONG? YEP!!! THE POWER OF ADVERTISING WINS OVER A GULLIBLE PUBLIC EVERY TIME.

  6. Justin Feb. 9 at 8:48 pm

    Funny to see supersniffy holding the party line. Question for the republican who doesn’t want to think for himself, nor does he have any evidence that “HUURR DURRR OBAMACARE!!!11″ is to blame.

    Serious question though, if State Farm can cut benefits to their employees without any disregard FOR ACTUAL PEOPLE THAT WORKED FOR THEM, all in the name of cost cutting mind you, why do you actually think insurance companies won’t do the same to policyholders? Remember party hacks, Health Care Reform protects us from things like this.

  7. Lou Feb. 10 at 1:06 pm

    I have had State Farm insurance for home and auto for 30 years and never had problems with them. I hope they continue their service.

  8. Flem Feb. 10 at 5:37 pm

    I wonder how long before we get to jump to the point where we send them checks for no services in return.

  9. TogosTurn Feb. 10 at 8:49 pm

    Being forced to buy health insurance from private companies that aren’t even regulated by antitrust provisions to prevent price fixing collusion is not socialism, it’s corporate welfare at its worst.

  10. Jerry Feb. 17 at 10:21 pm

    I have worked for State farm for over 20 years ,they are a good Co. to work for. The problem is our benefit package is bigger than our competitors. Unfortunately people now by cheaper policies with lower limits,from substandard companies ,that advertise well.