Late News; Verizon, unions reach agreement.(California considering health cover mandate)(Caremark Rx deal would create big PBM)(401(k) matching little changed: Hewitt)(Aon restructures reinsurance operations)(Judge declines seconds on McDonald's lawsuit)(Credit Lyonnais to settle ELIC probe)

Business Insurance, September, 2003

New York-based Verizon Communications Inc. estimates it will save $500 million over five years after reaching an agreement late Thursday with its two largest unions, ending a clash that centered largely on health care costs. The five-year pact, which Verizon's union employees still must approve, would essentially maintain the current arrangement in which employees and retirees pay no premiums.

Under the agreement, covering 79,000 union workers, employees would have to pay slightly higher deductibles and copayments. For Verizon, the deal allows it to add a preferred provider organization to the existing indemnity plan options, as well as more prescription options. California considering health cover mandate A conference committee of California lawmakers is...

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