From Reuters - Unionized workers at General Motors Corp. , the world's largest auto maker, have ratified a landmark deal to help the automaker cut its massive health-care costs, the United Auto Workers union said on Friday. Full Article
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The proposed changes are subject to approval by the U.S. District Court for the Eastern District of Michigan.
Under terms of the deal, which GM said would cut its hourly health-care liability by 25 percent, health care will no longer be free for hundreds of thousands of hourly retirees, their spouses and dependents.
Instead, most will pay a maximum of $752 per year for their family health-care coverage, including monthly premiums. Drug co-payments are not included.
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