In addition, there’s no money given out to help retirees to purchase health insurance as some companies offer, so I am guessing the exchanges may help fill the gap? Moen makes those nice pretty faucets you see in your bathrooms and kitchens. Current employees are also getting less with a new higher deductible plan. The high deductible plan change is becoming more common place with both big and small companies it seems. BD
LORAIN — Judy Starcovic was one of nearly 230 Moen Inc. retirees who opened letters last week informing them their company-provided health care insurance will end as of Jan. 1, 2014.
“I was there 35 years and they told me I had health care with them,” Starcovic, 71, said Monday.
The letter, which was signed by Moen President David Lingafelter, informed retirees that as of Jan. 1, Moen will no longer offer health care insurance to approximately 440 retirees in the U.S., including the almost 230 who live in Northeast Ohio and the rest of the state, according to Robyn Hill, Moen vice president of human resources.
Hill cited the cost of insurance, coupled with adapting the company’s health care to conform to changes mandated by the health care reform bill for its current workers as the reason for the change. Those moves include extending the coverage to age 26 for dependents and paying 100 percent coverage for birth control.