Retiree Drug Benefits

So far, most companies seem to be retaining existing plans providing prescription drug coverage for retirees. However, as time wears on, employers may "revisit this issue" and decide to alter their retiree benefits, thus forcing retirees to rely on the Medicare program for their health care needs.

One company that will be scaling back their retiree benefits is Verizon.Verizon has recently announced that it will be restructuring retiree benefits for the managers in their corporation. Pensions will be frozen, and less money will be contributed to retiree health coverage. Some people fear that other companies will follow suit - perhaps not now, but in future years.