Governor Andrew Cuomo signed a bill into law designed to protect Kodak retirees’ from a dramatic increase in health care costs.
The law serves as a kind of safety net for former Kodak employees’ worried about losing their health insurance plans during the bankruptcy. Its gives will allow insurance companies to compete to provide health care coverage for Kodak retirees should their current plans be dropped.
During a stop in Rochester, Lieutenant Governor Bob Duffy spoke about the importance of the measure, "So, it provides a plan going forward, should these men and women need it, that would keep the cost pretty much the same as what they are experiencing today. It's based on the experience of these retirees previously with insurance claims."
Kodak retiree Alyce Hahn says the new law is good news given the research she’s done about options without this law, "We've been quoted $1,300 a month, and for an individual that's a lot of money. So I would have had to think very seriously about no coverage, but now we know it's more affordable and so it gives everybody a lot of peace of mind."
The law impacts more than 5,000 Kodak retirees in the Rochester region.