Wyoming coal firm to eliminate retired health care benefits
CASPER, WYO. (AP) — Wyoming’s leading coal company plans to eliminate a health care benefit program for retired miners as a cost-saving measure.
The Casper Star-Tribune reported Peabody Energy Corp. has announced plans to discontinue coverage of medical expenses for workers enrolled in Medicare and stop providing life insurance to retirees.
The change is expected to take effect Jan. 1.
Peabody conducted a review that determined coverage of existing retiree medical benefits was not sustainable.
Discontinuing the retiree health care program is expected to save Peabody $174.5 million.
The company owns the North Antelope Rochelle, Rawhide and Caballo mines in the Powder River Basin.
Source: Casper (Wyo.) Star-Tribune