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Aetna Retirees Say Insurer Broke Promises by Cutting Health Benefits.
Knight Ridder/Tribune Business News, May, 2004
By Diane Levick, The Hartford Courant, Conn. Knight Ridder/Tribune Business News
May 1--Aetna's turnaround motto is "under-promise and over-deliver" on financial performance.
But Aetna has simply broken promises by cutting retiree health and dental benefits, retirees alleged at the company's annual meeting in Hartford Friday.
Although a reinvigorated Aetna is making millions again, it is phasing out medical insurance subsidies for employees who retire in 2004 or later. Many other U.S. employers have been cutting back retiree benefits, too.
Just this year, Aetna stopped paying for dental coverage for employees who retired Jan. 1, 2003, or later. As of Jan. 1, 2005, Aetna will end the dental subsidies for its other retirees....
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