Caterpillar says costs to skyrocket with health plan

03/22/2010 | MarketWatch

Caterpillar sent a letter to federal lawmakers, saying the new health care plan would increase its costs by $100 million. The potential extra costs would come from a tax on federal subsidies the company now receives for providing prescription-drug benefits to retirees. Caterpillar and more than 3,500 companies nationwide that have provided drug benefits for retirees have received tax-free subsidies from the federal government since the Medicare drug program was enacted in 2003.

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