Goodyear Tire and Rubber is dropping its group health insurance plan for salaried retirees who are eligible for Medicare. It's a move that Goodyear's Keith Price says will save most, but not all, retirees money.
"We began a cost analysis of our group plan versus individual plans several years ago," said Goodyear Spokesman Keith Price. He says they looked into cases where a retiree dropped the Goodyear plan to pick up a plan on their own in addition to other data.
Price says it doesn't save Goodyear any money at all to drop the plan. The company has hired a private company to administer the new program for retirees and their dependents - about 13,000 in all. The change does not impact retirees who were hourly workers.
A lot of other large companies, including FirstEnergy, PolyOne, GM, Ford, Chrysler have started doing the same thing.