Posts Tagged ‘Goodyear’
Goodyear’s onsite clinic to be closed
Citing rising costs and fewer patients, Goodyear Tire & Rubber Co. is closing the onsite medical center at its corporate headquarters in Akron at the end of the year.
The Goodyear Family Medical Center had been providing primary-care services to employees and retirees at the site on Goodyear Boulevard since 1989. Workers and retirees pay lower co-payments by using the practice.
But the company has removed liabilities for United Steelworkers retiree health-care benefits from its balance sheet by fully funding a $1 billion Voluntary Employees’ Beneficiary trust, or VEBA, that will pay for retirees’ health care.
Once the VEBA takes effect, accounting rules prohibit covered retirees from using the onsite clinic, because the company can no longer contribute toward their health care, spokesman Keith Price said.
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