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no long-term solution to the lack of protection for retiree health benefits.
A few days ago, the Senate Special Committee on Aging, of which I am a member, held a hearing to examine this issue. It was an eye opener for me.
Today, seven million retired Americans count on health insurance from a former employer as their only coverage prior to age 65, or as a supplement to Medicare after 65. But a growing number of retirees are finding that such benefits can be a fair weather promise. In the past five years, company bankruptcies have increased over 200 percent and once in bankruptcy, the potential for
96.2%