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One of the two largest pharmacies in TN is cutting its promised healthcare retirement benefits to its employees. This will mean older workers will be forced to work longer before they can retire.
cnbc.com/amp/2019/06/07…
cnbc.com/amp/2019/06/07…
“Indeed, Walgreens retirees say they trusted the subsidies wouldn't go away and have found the cuts hard to justify.”
"’If Walgreens was a struggling company… I could see it," said Chris Knupp, 61, who retired from Walgreens in 2016 as a senior director in the insurance department. He and his wife will lose his subsidies under the new rules."
"But this is a company who reported $5 billion of income last year and has posted profits for I don't know how many years."
“I didn't think that would happen," said Alessio, who hadn't taken the cuts into account in her retirement planning. She currently pays $27,600 annually for health insurance for herself, her husband & son, about $10,800 of which was covered by Walgreens. "I was totally shocked.'’
