Amid Bankruptcy GM and Chrysler Retirees Face an Anxious Future of UAW Healthcare

The health care of thousands of retired auto workers is about to change: On Friday the membership of the United Auto Workers overwhelmingly approved a restructuring plan with GM, according to UAW president Ron Gettelfinger. The plan gives the union’s health care vehicle some promissory notes plus a 17.5% stake in GM and warrants to purchase another 2.5%. Assuming the deals survive bankruptcy court, and experts expect it will, the change marks a new direction in health care for GM retirees, and now puts them in much the same camp as Chrysler retirees.