Walgreens cuts health care for retirees

Walgreens cuts health care for retirees

Walgreens has written to former employees who have taken retirement from the pharmacy chain informing all those aged under 64 on March 31, 2019 that they will no longer be entitled to health care benefits, according to a report published by CNBC.

Some 550 retirees will be affected by the move, which is viewed as unusual – companies rarely remove benefits from employees post-retirement. Current employees who were eligible for the benefit before Walgreens made the changes will also now not receive the benefit.

“We are continuing to work toward a new retiree health care program for 2020, paying particular attention to the transition impact for those with current subsidized coverage,” Phil Caruso, a Spokesperson for the drugstore told CNBC in an email. “We will continue to update our retirees.”

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