Read excerpt below:

November 10, 2008

By Emily Brandon
U.S. News & World Report

Note to retirees: Don't count on your retiree health insurance from your company. Even if you have the agreement in writing, many retiree health insurance agreements include clauses giving the company the right to modify, suspend, revoke, terminate, or change the program at any time. And for many employers, that time has come.

General Motors plans to eliminate retiree healthcare coverage for approximately 100,000 white-collar retirees at the end of this year. Former factory workers, however, have union contracts that prevent the company from revoking coverage.

Read entire article: http://www.usnews.com/blogs/planning-to-retire/2008/11/10/general-motors-cuts-healthcare-for-retirees.html