Retiree's Wife Sends Letter to D'Amelio and Russo - 9-13-04
We have just read an AP article about Lucent cancelling retiree health benefits. In the article you state that the new "awful" Medicare law will cover prescriptions for seniors. Well this is not true!!! It will only cover prescriptions for the poorest of the poor (most of whom are covered by state programs already). A couple cannot have income exceeding $19,000 a year or assets of more than $1,500 not including a home, an automobile, burial plot and wedding ring. What a joke. If we lose our prescription benefits, our out-of-pocket expenses for our scripts will cost $18,000 a year.
We were promised these benefits and counted on them as part of our retirement budget. Are you now going to break your promise???
In addition to breaking your promise, Lucent will collect millions of dollars from the Medicare fund as an incentive to continue these benefits. However, Lucent gets to keep these millions even if they cancel the benefits. This so called Medicare benefit is not for the benefit of seniors, but is another benefit for employers and insurance companies.
You may wonder why the people in this country are fed up. Mark my words, if companies and government continue to betray their current and retired employees there will be a violent revolution in the US.
Beatrice M. Krieger (spouse of retiree William Krieger)
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