Health Insurance Blog | Please Comment On Health Insurance Issues

Delphi Corp., a Michigan based parts supplier has made the request of a bankruptcy court judge to cancel health and life insurance benefits for its current and future salaried retirees. Another victim of the economic downturn, the automobile parts manufacturer would stand to save roughly $70 million a year by eliminating these benefits and reduce its liabilities by $1.1 billion. The company filed for bankruptcy last October and has been working to recover. If the request is granted, it could very well save the compaby, but what will all of its retirees who currently count on their benefits be forced to do? What position will they be left in?