Information for Constituents Regarding Kodak Filing for Chapter 11 Bankruptcy Protection

 

    This area will provide information for constituents regarding Eastman Kodak and their recent announcement that the company has filed for Chapter 11 Bankruptcy Protection. While my office can not answer specific questions regarding an individual's case, we can provide information where employees, retirees, and family can direct those questions to. This webpage will also provide news, statements, and on-going events and programs to help our community through this difficult time.

    Senator Joe Robach Introduces Bill To Protect Kodak Retiree Health Care

    Legislation would provide safety net in the event retiree health benefits are eliminated

     

    Eastman Kodak’s filing for Chapter 11 bankruptcy protection last month has prompted much uncertainty for employees and retirees of the company. To try to mitigate these fears, Senator Robach joined with Assemblyman Reilich and Brighton Securities last week to host an informational forum which addressed potential implications Kodak’s bankruptcy may have on employees, retirees, vendors and local municipalities.  The one concern heard over again, which there was no clear answer to, was the potential fate of health benefits for retirees. 

     

    If Kodak eliminates health benefits for retirees, those who have not yet reached the age of 65 (when they qualify for Medicare) will be left uninsured.  For this reason, Senator Robach  has introduced legislation (Senate Bill S.6331) to make these individuals eligible for Healthy NY.  Specifically, this bill would make any retired person who is ineligible for Medicare and who lost employer sponsored health insurance coverage during the course of their retirement eligible for the Healthy NY program. 

     

    Senator Robach said “Retirees are worried that sooner or later, they will be without the health care benefits that they previously received from Kodak.  This legislation will help put these retirees at ease by providing them a safety net and making them eligible for Healthy NY program.”

     

    "Healthy NY" was introduced as part of The Health Care Reform Act of 2000 to provide comprehensive health insurance to those citizens who need it most.  All HMOs in New York State offer the streamlined, yet comprehensive Healthy NY health insurance benefit packages to eligible businesses and individuals. Healthy NY includes health benefits that cover essential health needs including inpatient and outpatient hospital services, physician services, maternity care, preventative health services, diagnostic and x-ray services, and emergency services.

    This legislation is currently pending in the Senate’s Committee on Insurance.  In addition, Assemblyman Reilich has introduced a companion bill in the NYS Assembly.  

    CLICK HERE TO READ THE ENTIRE BILL.

     

    # # #

    Governor Cuomo's Statement on Eastman Kodak:

    Albany, NY (January 19, 2012)

    "The announcement that Kodak is filing for bankruptcy is difficult and disappointing news for the City and people of Rochester. Although Kodak will continue to operate during the bankruptcy process, the State has been in touch with the company and local officials and New York State stands ready to support the Rochester community. This is a time for all of us at all levels of government to come together and work with the private sector to support Rochester's growth. Rochester is known the world over as a place where businesses can come to thrive and grow and the State will continue to empower the Rochester community in order to build on that remarkable strength."

    Senator Joe Robach's Statement on Eastman Kodak:

    Rochester, NY (January 19, 2012)

    “I hope Kodak’s recent financial status and restructuring will move the company to beneficially assist the remaining employees and the many retirees in our region. While facing these difficult times, Kodak is still very important to many people and families in our community. I, and my colleagues in every level of government, stand ready to assist Kodak, its employees, and its retirees during this transformation.”

    Helpful Links:

    http://ekra.org/ (as association of Eastman Kodak retirees)

    http://www.kodaktransforms.com/ (Eastman Kodak Reorganization Information)

    http://brightonsecurities.com/ (partner for Eastman Kodak information session on January 27th)

    Other information