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Tobacco companies, US to work out settlement on health care payments

Published by Steve Coleman on April 16, 2012

Three US tobacco companies say their combined bill to help ailing smokers has topped $6.5 billion this year.

Under a 1998 agreement with American states, the companies are obligated to help cover the health care costs of their sick former customers. However, most are disputing how much they have to pay.

Several companies have put at least part of the amount in escrow. The agreement was drawn up to level the playing field between companies that signed the document and those that didn't.

A series of meetings have been planned for Chicago to settle any disputes over how much the tobacco companies actually owe for health care.

Check the following link to read the full story.


 

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