In an attempt to resolve their bankruptcy, Eastman Kodak Co. has said that they plan to stop providing health care benefits to retired, former employees who are over the age of 65-years-old because these individuals would be eligible for health insurance through Medicare. In addition, the change would only affect retirees who retired after October 1991.

This plan could go into effect on May 1, and save Kodak approximately $20.5 million. In a statement to their retirees over the age of 65, Kodak said that the step “represents a necessary step in Kodak’s efforts to become a competitive and sustainable enterprise during and after its Chapter 11 reorganization process.” Kodak filed for bankruptcy in January.

If you are considering filing for bankruptcy and would like to speak with an experienced attorney about your current financial situation, contact the Florida bankruptcy attorney, Ryan J. Really, by calling (239) 237-0675 today.