Youngstown schools retirees insurance spikes; they want answers
YOUNGSTOWN
A retired president of the nonteaching employees’ union of Youngstown schools wants to know why life insurance premiums rose 165 percent this year for retirees.
George Phillips told the school board at its Tuesday meeting that AFSCME retirees had been paying $205 a year for an insurance policy of $10,000 they were buying themselves.
They were able to pay such a low premium for the last 20 years, he said, because the union had negotiated for them to be enrolled in a group with the active employees.
But this year, their premiums rose to $546, half of which is due by May 1.
“This is devastating to them,” Phillips told the board,
“A lot of them are 80, 90 years old,” he said, adding that they’re worried about funeral expenses.
“We’d like to have some answers,” Phillips said. “It seems like the insurance companies are trying to drive out the retirees from the life insurance polices.”
Read more of the story in Wednesday's Vindicator or on Vindy.com.