About 350 retirees just learned their life insurance benefit will end Jan. 1, according to WENY. Cayuga Health told former employees it will stop covering a $4,000 retiree policy long included with retirement packages.
The benefit came through Cayuga Medical Center and insurer Unum. Retirees can keep coverage by converting to an individual policy, but they must pay the premiums themselves. One retiree told WENY the change could cost about $300 a year.
Cayuga Health’s parent company, Centralus Health, said financial pressures forced the decision and staff will help retirees navigate their options.
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