An industry group says that a provision in the Senate's health plan could cause up to a third of companies to drop retiree health benefits. Lobbyists from companies including Deere & Co. plan to express to Democratic leaders their concerns over the provision, which would change the tax status of the benefits and could mean a one-time 35% loss in earnings for companies that continue to provide the benefits.

Senate health plan could hit retiree benefits

December 31, 2009

An industry group says that a provision in the Senate’s health plan could cause up to a third of companies to drop retiree health benefits. Lobbyists from companies including Deere & Co. plan to express to Democratic leaders their concerns over the provision, which would change the tax status of the benefits and could mean a one-time 35% loss in earnings for companies that continue to provide the benefits.

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