News May Not be as Bad as it Sounds

On July 15th, General Motors announced that retired salaried employees 65 and older will lose their GM medical benefits. In exchange, GM will increase pension payments by $300 per month. My father is a retired GM employee, so I am very familiar with this situation.

The information below will hopefully answer some of your questions, and eliminate some of the fear, uncertainty and confusion, that you are feeling. Most General Motors retirees have had Medicare since they turned 65. You should have a red, white and blue Medicare card in your wallet or purse like the one below.

Sample Medicare Card

You will see two dates on the card, a Hospital (Part A), and a Medical (Part B) date. These are the dates that you enrolled in each part of Medicare. Your GM insurance is your “Secondary” insurance. It pays some or all of what Medicare does not cover. Medicare also has two other “parts.” Part C is the name for Medicare Advantage Plans. Part D is Medicare prescription drug coverage.